V.I. Housing Finance Authority (VIHFA) has officially launched its Neighborhood Revitalization Program and the issuance of a Notice of Funding Availability (NOFA) for eligible community-based projects.
Within the Notice of Funding Availability:
The Building Façade and Streetscape Enhancement Program make available up to $7.6 million for forgivable loans to targeted projects located in traditional business districts or within a commercial neighborhood, retail or mixed-use zones affected by the September 2017 hurricanes Irma and Maria.
The Small Business Entrepreneurship Grant and Technical Assistance Program offers up to $5.1 million in grants for small businesses and microenterprises that suffered physical and/or financial losses due to the 2017 hurricanes. The technical assistance offered through the program is designed to support entrepreneurs by providing specialized training to eligible businesses to build economic resilience and reduce future losses from disruptions.
“Direct investments in our community stimulate tourism, job creation, greater shared knowledge about our past, and strengthens regional identity and local pride,” Interim Executive Director Dayna Clendinen said. “We are thrilled to be able to offer, through this meaningful program, the funding to facilitate new improvements and opportunities in a way that makes a lasting impact on the quality of life of or residents.”
The Neighborhood Revitalization Program will be administered by the Community Development Block Grant-Disaster Recovery Economic Revitalization Program (CDBG-DR).
Upcoming public hearings will be held for the community to find out more about eligibility, criteria and the application process. Dates, times and virtual log-in information are as follows:
Thursday, March 9 | 3-4 p.m.:
Registration Link
https://us02web.zoom.us/meeting/register/tZMtcOqqrTkiG9cv9dxrs6Pysa2Oct–dR81
Meeting ID: 870 7323 2813
Passcode: 986429
Thursday, March 16 | 5:30-6:30 p.m.:
Registration Link
https://us02web.zoom.us/meeting/register/tZcrf-CgqTsjGNQ5zxtJKXofnRqgtrmKg0mx
Meeting ID: 836 8987 0920
Passcode: 155673
For NOFA requirements and policy information, click here https://cdbgdr.vihfa.gov/wp-content/uploads/2023/02/Neighborhood-Revitalization-NOFA.pdf. Applications can be found on the VIHFA website at DR-Scope-and-Eligibility-App_v3.4-Fillable-1.pdf (www.vihfa.gov). All applications and supporting documentation must be submitted by Monday, May 8. Applications received after the deadline will not be considered.
Applicants can submit their applications using the following methods:
Electronic Application – Applicants must follow the instructions provided within this document and submit their application package to ERNR@vihfa.gov.
Electronic applications are due by 11:59 p.m. (EDT).
Hard copies will be accepted from 8 a.m. to 5 p.m. at the following locations:
St. Thomas: 3202 Demarara Plaza, Suite 200 (Frenchtown VIHFA Office).
St. Croix: 100 Lagoon Complex, Suite 4 (Old Legislature Building)
For more information, contact Donnie E. Dorsett, Economic Revitalization Senior Program manager, at 777-7734 ext. 4228 or email ERNR@vihfa.gov
