McAuliffe announces solicitation of applications for a second round of FACT Fund grants

virginia-blue-oversizeGovernor Terry McAuliffe announced this week that grant applications are being accepted from Virginia localities to address encroachment of military or security installations.  These grants are being supported with $4,361,600 in the Virginia Federal Action Contingency Trust (FACT) Fund. Virginia localities that have had or have pending identifiable or measurable negative impacts caused by encroachment upon military or security installations are eligible to apply for these grant funds.

The deadline for the receipt of applications is July 31 and the application and guidance documents can be found on the website of the Virginia Secretary of Finance http://finance.virginia.gov/agency-information/fact-fund/.

During the 2014 Special Session, the General Assembly reverted $4,361,600 of the FACT Fund balance included in the introduced Budget Bill.  During the 2014 Reconvened Session, the Governor vetoed this reversion. The Governor’s veto had the effect of restoring the balance to the FACT fund, making it available for the 2014-2015 FACT Fund grants.

“Virginia’s military installations play a critical role in keeping our nation safe and our Commonwealth’s economy healthy,” said Governor McAuliffe. “The FACT Fund is an invaluable tool to help mitigate the threat of encroachment or other issues that could put our bases at risk. That is why I fought to keep this funding in the budget, and why I am looking forward to reviewing these applications from communities that are invested in keeping our military assets and the jobs and economic growth that come with them in the Commonwealth.”

The FACT Fund was created by the Virginia General Assembly in 2012 to limit risks associated with or offset the adverse economic impacts of closure, relocation, or realignment of federal military or security installations or other federal agencies located in Virginia.

 



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