The Shadow
RICHMOND, VA (VR) — Governor Glenn Youngkin announced Virginia Main Street grants for 16 communities totaling more than $257,000. The funded projects will revitalize historic commercial districts, expand small businesses and bolster local economies through new technology and improved marketing.
“For over 30 years, the Virginia Main Street program has been critical to economic development, small business growth and job development through the revitalization and preservation of our historic downtown districts,” said Governor Glenn Youngkin. “I look forward to seeing the economic opportunity that these projects will spark while preserving and utilizing the historic character of their communities as well.”
Since 1985, the Virginia Department of Housing and Community Development has been providing assistance to localities engaged in downtown commercial district revitalization through the Virginia Main Street Program. Virginia uses the National Main Street Center’s comprehensive, incremental Main Street Approach to downtown revitalization, which is built around a community’s unique heritage, culture, and historic building attributes.
“Virginia Main Street continues to create opportunities for long-term economic growth throughout the Commonwealth,” said Secretary of Commerce and Trade Caren Merrick. “These grants allow us to provide targeted support while preserving the unique cultures and histories that make Virginia’s downtown areas consumer destinations.”
VMS allocates funding for three types of grants: Downtown Investment Grants (DIG), Community Vitality Grants (CVG) and Financial Feasibility Grants (FFG). Downtown Investment Grants (DIG) are available only to Advancing Virginia Main Street communities and must be administered through the designated local VMS organization. Grants can be used to fund complete projects, provide seed funding for new projects or provide gap financing that allows a project to become fully funded.
Community Vitality Grants (CVG) are designed to assist organizations and communities in achieving their downtown revitalization goals. Grants are available to all active Exploring Main Street and Mobilizing Main Street communities and organizations, non-designated VMS program tiers. This funding supports projects that will create a positive impact on the downtown neighborhood’s long-term goals.
Financial Feasibility Grants (FFG) allow communities to work with owners of significant derelict buildings or structures with non-productive upper-floor space. This grant also allows for small-scale development by providing feasibility resources to new or beginning developers for buildings within the district.
In 2021 the state-designated and nationally accredited Main Street Communities in Virginia created or retained more than 700 jobs and 221 businesses, and generated public and private investments of approximately $76 million.
To learn more about the Virginia Main Street program, visit dhcd.virginia.gov/vms.
