GOVERNOR KAINE ANNOUNCES $185 MILLION INVESTMENT IN CHESAPEAKE BAY CLEAN-UP BY VIRGINIA RESOURCES AUTHORITY

COMMONWEALTH OF VIRGINIA
Office of the Governor
Timothy M. Kaine FOR IMMEDIATE RELEASE
Governor May 08, 2009
Contact: Gordon Hickey
Phone: (804) 225-4260
Cell Phone: (804) 291-8977
Internet: www.governor.virginia.gov
Rod Davis, Program Manager Liz Bryant
VRA The Alliance Group
(804)644-3100 (804)225-5829
www.virginiaresources.org

GOVERNOR KAINE ANNOUNCES $185 MILLION INVESTMENT IN CHESAPEAKE BAY CLEAN-UP BY VIRGINIA RESOURCES AUTHORITY
~ From 2007-2009, investments total more than $810 million ~

RICHMOND – Governor Timothy M. Kaine today applauded the Virginia Resources Authority’s (VRA) issuance of Clean Water Revolving Loan Fund Bonds to finance $186,186,610 in wastewater treatment and sewer system infrastructure and upgrades statewide. VRA's total investment in nutrient removal for the Chesapeake Bay for FY 2007-09 in all programs now exceeds $810 million.

“The Commonwealth has dedicated more than $1 billion to cleaning up the Chesapeake Bay since the start of my term, and we have made fighting pollution one of our core concerns,” Governor Kaine said. “By issuing these bonds, the VRA continues to be our close partner in all of our efforts.”

The Series 2009 bonds will support improvements to 13 wastewater treatment plants and associated infrastructure owned and operated by Arlington County, the Alexandria Sanitation Authority, the City of Falls Church, the Augusta County Service Authority, the Hampton Roads Sanitation District, the Town of Lovettsville, the City of Newport News, the Rivanna Water & Sewer Authority, Stafford county, the City of Salem, and the Frederick-Winchester Service Authority. The majority of the projects will provide system upgrades to reduce nutrient pollution being discharged into the tributaries that feed the Chesapeake Bay. Ultimately, the upgrades will enhance marine life and the overall health of the Bay.

"These VRA investments are integral to the work we are doing to restore the health of the Bay," said Virginia Secretary of Natural Resources L. Preston Bryant, Jr. "VRA represents the third and critical leg of our sewage treatment plant funding strategies, rounding out what the state provides localities in out-right grants and other low-interest loan programs."

Virginia, along with Maryland, Pennsylvania, the District of Columbia, and the U.S. Environmental Protection Agency, are all signatories to the Chesapeake 2000 Agreement, which calls for each state to reduce by 40% the level of nutrients going into the Chesapeake Bay by 2010.

“Virginians have a very strong emotional connection to our water resources and these bond-supported projects will make the Chesapeake Bay and Virginia’s rivers cleaner,” said Sheryl Bailey, Executive Director of the Virginia Resources Authority. “A cleaner Chesapeake Bay and cleaner rivers will enhance the quality of life where Virginians live, work and play.”

Virginia Resources Authority partners with the Department of Environmental Quality (DEQ) to provide below-market rate loans for eligible local government projects.

“Despite the difficulties of providing funds during the current economic concerns for state budgets, the availability of this money maintains Virginia’s momentum toward improving the health of the Bay,” DEQ Director David K. Paylor said. “Thanks to the invaluable assistance of VRA, we are resolving our most pressing water quality challenges.”

High credit quality and exceptional financial management contributed to the bonds’ Natural AAA ratings by Moody’s, Standard and Poor’s and Fitch. Investor demand for the bonds was twice the actual supply – a fact which contributed significantly to the price advantage for VRA. Furthermore, VRA’s use of an array of marketing tools including radio spots, newspaper ads, an internet road show and the www.BuyVRABonds.com website facilitated investor awareness and interest.

For more information on the Virginia Resources Authority, visit their website at www.virginiaresources.org. Specifics on the projects follow, including contact information for media interviews for localization of the story.

Virginia Clean Water State Revolving Fund Revenue Bonds
Subordinate Series 2009 Project Descriptions

Arlington County – This is the fifth loan installment in the CWRLF for upgrades at the Arlington County Water Pollution Control Plant to meet the Commonwealth’s 2010 Chesapeake Bay regulations. The project will minimize the frequency and volume of external bypasses, improve treatment capabilities, address aging infrastructure, increase redundancy and reliability, and meet projected flow requirements.

Contacts:
Larry Slattery, Water Pollution Control Bureau Chief
703-228-6877

lslattery@arlingtonva.us
Phil Loar, Community Relations Specialist
703-228-6867
ploar@arlingtonva.us

Shannon Whalen McDaniel, Communications Manager
703-228-3685
smcdaniel@arlingtonva.us

Mylissa Kennedy, Communications Manager
703-228-3152
mkennedy@arlingtonva.us

Alexandria Sanitation Authority – The loan will fund the Authority’s portion of upgrades to meet the Commonwealth’s 2010 Chesapeake Bay regulations at the Arlington County Water Pollution Control Plant.

Contact:
Karen Pallansch, General Manager
703-549-3381
karen.pallansch@alexsan.com

City of Falls Church – The loan will fund the City’s portion of upgrades to meet the Commonwealth’s 2010 Chesapeake Bay regulations at the Arlington County Water Pollution Control Plant.

Contact:
John Tuohy, CFO/General Manager
703-248-5092
JTuohy@fallschurchva.gov

Augusta County Service Authority – The loan will fund upgrades to Stuarts Draft Wastewater Treatment Plant which will provide nutrient removal to meet the Commonwealth’s 2010 Chesapeake Bay regulations.

Contact:
Debbie White, Director of Finance
540-245-5670
dwhite@co.augusta.va.us.


Hampton Roads Sanitation District – (three projects) --
(1) The loan will fund upgrades at Nansemond Treatment Plant which will provide nutrient removal to meet the Commonwealth’s 2010 Chesapeake Bay regulations. This project is expected to receive funding from the Water Quality Improvement Fund and FY 2009 CWRLF funds.
(2) The loan will also fund upgrades at James River Treatment Plant which will provide nutrient removal to meet the Commonwealth’s 2010 Chesapeake Bay regulations. This is an innovative treatment process, one of the first of its kind in the state.
(3) And finally, the loan will provide for the design and installation of flow meters and pressure sensors at sites throughout Hampton Roads. This is part of the regional consent order to reduce sanitary sewer overflows.

Contact:
Bruce W. Husselbee, PE, Director of Engineering
757-460-7012
bhusselbee@hrsd.com

Town of Lovettsville – The loan will provide for upgrades to address inflow and infiltration and improvements to the wastewater collection system.

Contact:
Keith Markel, Town Manager
540-822-5788
kmarkel@lovettsvilleva.gov

City of Newport News – The loan will provide for sanitary sewer upgrades and rehabilitation, as well as pump station renovation.

Contact:
Steve Williams, Senior Engineer
757-269-2493
swilliams@nngov.com

Rivanna Water & Sewer Authority – The loan will fund upgrades to Moores Creek Advanced Wastewater Treatment plant which will provide nutrient removal to meet the Commonwealth’s 2010 Chesapeake Bay regulations.

Contact:
Tom Frederick, Executive Director
434-977-2970, ext. 103
tfrederick@rivanna.org

Stafford County – The loan will fund nutrient removal enhancements at the Aquia Wastewater Treatment Plant to meet the Commonwealth’s 2010 Chesapeake Bay regulations.

Contact:
Cathy Riddle, Public Information Administrator
540-658-4894
criddle@co.stafford.va.us

City of Salem – The loan will fund upgrades to the city’s collection system to address sanitary sewer overflows and bypasses at the treatment plant.

Contact:
Mike Stevens, Communications Director
540-375-4112
mstevens@salemva.gov

Frederick-Winchester Service Authority – The loan will provide for upgrades to the Opequon Water Reclamation Facility to provide nutrient removal to meet the Commonwealth’s 2010 Chesapeake Bay regulations.

Contact:
Jesse Moffett, Executive Director
540-722-3579
jmoffett@fredwin.com


About the Virginia Resources Authority:

VRA provides cost-effective financial solutions to local governments and other public bodies for projects that improve the quality of life of Virginians. Created by the General Assembly in 1984, VRA is a self-financed state authority that supports community investments in the areas of public safety, transportation, wastewater, flood prevention and dam safety, solid waste, water, federal facility development, brownfield remediation and redevelopment, airports, land conservation and preservation, broadband, parks and recreation, local government buildings, and energy. Effective July 1, 2009, VRA will also service loans in support of site acquisition and site development and administrative and operational systems for local government buildings.

Since its inception, VRA has funded more than 800 critical projects across the Commonwealth representing more than $3.75 billion of investment in Virginia’s communities. VRA’s cost-effective and custom-tailored financing solutions are often what make local and regional projects possible. These financing solutions draw on VRA’s unique ability to issue bonds backed by the moral obligation of the Commonwealth and to provide revolving fund loans to localities at below-market interest rates. The VRA staff offers extensive experience and expertise in a variety of financing techniques and the staff provides ongoing assistance and oversight to localities and their public projects.

This ability to maximize value for local communities with cost-effective and innovative financing options has made VRA a major strategic partner for Virginia communities.


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