Revolving Fund Program
In 1989, the Virginia General Assembly created the Historic Preservation Trust Fund with the goal of saving endangered historic properties from demolition and severe neglect. In 1999, the fund was transferred to Preservation Virginia and became the Revolving Fund Program. This program is the only one of its kind in Virginia.
Virginia is home to some of America’s most historic properties. Unfortunately, many of them are at risk because of severe neglect, demolition or inappropriate development. The Revolving Fund program has had a significant impact on communities across the Commonwealth by helping save several historic residential and commercial properties.
Here’s how the program works:
- Endangered historic properties are acquired and placed under protective easement with the Virginia Department of Historic Resources.
- The properties are then sold to new owners who agree to undertake the necessary rehabilitation.
- All proceeds generated from the sale of these properties are then returned to the Revolving Fund to replenish the reserves, which enables future acquisitions.
You can support the Revolving Fund program with gifts of property or donations that will support the management of the program. Contact us to learn more.