The Industrial Revitalization Fund (IRF) leverages local and private resources to achieve market-driven redevelopment of vacant and deteriorated industrial and commercial properties.
The program is targeted toward vacant non-residential structures whose poor condition creates physical and economic blight to the surrounding area in which the structure is located. Eligible properties shall include those formerly used for manufacturing, warehousing, mining, transportation and power production, as well as large-scale white elephant structures, such as department stores, theaters, hotels and shopping centers. Structures whose original intended use was solely residential are not eligible.
Remnants of past economic vibrancy and local economies in transition, these structures are no longer suited for their former purpose, and in their current deteriorated condition, stand as a significant deterrent for future economic opportunity in the surrounding area and region. The maximum level of funding is $600,000.
Only local governments (city, county or town) or regional or local economic or industrial development authorities may apply for the funds. However, localities may designate a redevelopment authority or other similar organization as the designated agent for implementation and administration of activities. Eligible applicants may also partner with private and nonprofit entities.
The Department of Housing and Community Development’s Community Revitalization Office is seeking public input on proposed changes to the Industrial Revitalization Fund program design for fiscal year 2020. Click the link below to review the proposed changes, highlighted in orange.
*Please note: These changes are only PROPOSED at this point, and have not yet been finalized. Staff will consider all public input submitted by March 30, 2018 before finalizing any changes to the program design. In addition, only changes that would affect the overall scope of the program have been highlighted. Grammatical and structural changes have not been captured.
Applications for the 2018 IRF funding cycle will be accepted during the spring of 2017. Please check back at a later date for the application deadline and schedule of how-to-apply workshops. If you would like to discuss a potential project, please get in touch with, Tory McGowan at (804) 371-7066, Jordan Snelling at (804) 371-7121 or Joy Rumley at (276) 676-5471 ext.7.