Dec 20, 2012

Info about IDAs and more

DHCD Community Revitalization Office offers the following programs for individual and household economic development:

Virginia Enterprise Zones (VEZ)

VEZ program is a partnership between state and local government that encourages job creation and private investment. VEZ accomplishes this by designating enterprise zones throughout the state and providing two grant-based incentives, the Job Creation Grant (JCG) and the Real Property Investment Grant (RPIG), to qualified investors and job creators within those zones. VEZ staff will provide a "how-to-qualify" session that will present detailed information on the Grant Year 2012 application process for the JCG and RPIG. Businesses located within the boundaries of an enterprise zone that have experienced increased employment, invested in real property or have future plans to expand are highly encouraged to attend this information session. CPA's and other related parties are also encouraged to attend as the presentation will provide guidance on the CPA Attestation, a required component for both JCG and RPIG applications.

Virginia Individual Development Accounts (VIDA)

VIDA is for individuals who are committed to changing their finances for a better future. People across Virginia have been able to improve credit, learn how to budget and find ways to save money that is matched up to $4,000 by the program. Participants are able to use their savings and the match funds towards home ownership, education, or business start-up or expansion. Along the way, achievements are supported by designated local organizations called intermediaries. DHCD contracts with intermediaries such as local governments or registered non-profit (501c3) organizations to recruit, determine eligibility, support and train participants. The session will include information for potential program participants and intermediaries.

Virginia Main Street (VMS)

VMS is an asset-based economic and community development program that follows the Main Street Four-Point Approach™, developed by the National Trust Main Street Center to help communities revitalize their historic commercial districts. VMS staff will review the VMS program and services and will explain the application process for communities interested in becoming a designated Virginia Main Street community.

Virginia Enterprise Initiative (VEI)

VEI provides grants and technical assistance to organizations that assist micro-entrepreneurs. Learn how the VEI program is evolving to integrate all of DHCD's micro-enterprise activities for localized community economic benefit by "priming the pump" of entrepreneurship in local communities and actively supporting the entrepreneurial economy as a way of leveraging the business and job creation potentials of DHCD and other programs.

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