City of Danville City Council Regular Meeting Agenda May 19 2026
IDA to Administer Workforce Housing Revolving Loan Fund
Trusted by teams at
Description
Council authorized pass-through of a $2,000,000 Virginia Housing grant to the Industrial Development Authority to create a revolving workforce housing loan fund. The IDA will lend the money to 1700 Main LLC for the 1700 West Main workforce housing project and reinvest loan repayments in future housing developments.
Contract Details
Contract Amount
$2,000,000 (loan capital to be revolved)
Vendor
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF DANVILLE
Agency
City of Danville, VA
Contract Type
FINANCIAL_SERVICES
Document Date
May 16, 2026
Contract Term
Continuing revolving loan program
Renewal Info
Revolving loan fund is intended as a sustainable, ongoing financing mechanism; funds will be reused as loans are repaid rather than expiring on a fixed date.
More from City of Danville
City of Danville City Council Regular Meeting Agenda May 19 2026
City of Danville City Council Regular Meeting Agenda May 19 2026
City of Danville City Council Regular Meeting Agenda May 19 2026
City of Danville City Council Regular Meeting Agenda May 19 2026
City of Danville City Council Regular Meeting Agenda May 19 2026
Want to learn more?
Get alerts on contract renewals, new awards, and vendor activity.
Bring us your territory.
We'll show you what is forming.
See live SLED buying signals, source docs, decision-makers, contract context, and the next step into your CRM or pipeline.