Performance Measure
Report Filter
Export to
CSV
Excel
PDF
Help
Back to Report Menu
 
Agency Department of Housing and Community Development (165)
Measure Name Amount of new private investment in distressed communities through community development activities.
Measure Last Modified
08-19-2022 10:03 a.m.
Measure Last Published
08-26-2022 11:49 a.m.
Status
Active
Data Source and Calculation
Reports from local governments, regional partners, and grant recipients for programs such as: Community Development Block Grants (CDBG), Appalachian Regional Commission (ARC), GO Virginia, Industrial Revitalization Fund (IRF), and the Virginia Main Street (VMS) Program.
Enterprise Priorities and Strategies
Initiative Priority Strategy
Economy Business Climate and Economic Development Promote Virginia’s competitive business climate to maintain the designation as the best state for business.
Economy Poverty Develop a clear and consistent anti-poverty policy.
Associated Service Areas
Service Area Code Service Area Name
53301 Community Development and Revitalization
53305 Financial Assistance for Community Development
Targets and Baselines
Name Date Result Note
Baseline 137.6 Reported number is in the millions of dollars.
Short Target 2025 None
Long Target 2027 None None
Results
Year Result Note
2000 42.4 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2001 50.5 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2002 38.3 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2003 78.9 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2004 33.1 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2005 55.6 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2006 75.0 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2007 68.3 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2008 299.8 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2009 59.7 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2010 114.8 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2011 73.3 Reported number is in the millions of dollars. Three large Community Development Block Grant projects (CDBG) accounted for private investment of $262 million in FY 2008. The investment was more normal in FY 2009 thru FY 2011. The investment failed to meet the target in FY 2011 due to the downturn in the economy. The decrease in private investment in FY 2011 reflects reduction in major construction starts in 2008-9-10. Last year’s private investment was unusually high due to the completion of a $25 million hotel renovation. Anecdotally, DHCD is seeing an increase in demand for Main Street design services in the past 6 months in both number of projects and value of projects, indicating that FYs 12 and 13 should show an uptick in private investment. In addition, DHCD knows of one $10 million + project underway and another $6 million project in development.
2012 20.9 Reported number is in the millions of dollars. The investment failed to meet the target in FY 2012 due to the downturn in the economy. During the past year, there were not any siginificant economic development projects completed, and therefore, the investment of private leverage did not reach the projected goal.
2013 58.1 Annual reports from local governments and regional partners and grant recipients for the following programs: Community Development Block Grants (CDBG), Appalachian Regional Commission (ARC), Virginia Enterprise Initiative (VEI), Industrial Revitalization Fund (IRF), and the Main Street Program. (Reported in millions of dollars)
2014 30.2 Annual reports from local governments and regional partners and grant recipients for the following programs: Community Development Block Grants (CDBG), Appalachian Regional Commission (ARC), Virginia Enterprise Initiative (VEI), Industrial Revitalization Fund (IRF), and the Main Street Program. (Reported in millions of dollars)
2015 205.8 FY 2015 reflects a 86+ increase in private investment due to a CDBG Comm. Econ. Dev. project in Halifax County funded in 2012 being completed in FY2015. Annual reports from local governments and regional partners and grant recipients for the following programs: Community Development Block Grants (CDBG), Appalachian Regional Commission (ARC), Virginia Enterprise Initiative (VEI), Industrial Revitalization Fund (IRF), and the Main Street Program. (Reported in millions of dollars)
2016 156.8 FY 2016 reflects a 24+ reduction in private investment due a significant decrease in private investments leverage for the ARC program. In prior year the ARC program had a number of area development construction projects completed.
2017 103.2 FY2017 reflects a 35+ reduction in private investment due to a decrease in private investments in the CDBG and CBL programs. In prior years, the CDBG program completed several large scale projects. In addition, some of the FY2017 round of CBL grants are still underway.
2018 83.1 FY2018 reflects a 19+ reduction in private investment due to a decreases in the Virginia Main Street, CDBG, IRF and CBL programs. Virginia Main Street experienced the largest decline at 31+.
2019 196.6 FY2019 reflects increased funding and efforts by VMS leveraging $44m in public investment to $115m in private investment.
2020 137.6 Annual reports from local governments and regional partners and grant recipients for the following programs: Community Development Block Grants (CDBG), Appalachian Regional Commission (ARC), Virginia Enterprise Initiative (VEI), Industrial Revitalization Fund (IRF), and the Main Street Program. (Reported in millions of dollars)
2021
2022
2023
Measure ID 16553301.001.002
Measure Class Agency Key
Measure Type Outcome
Year Type State FY
Preferred Trend Increase
Frequency Annually
Statistical Unit Millions of Dollars of Private Investment
sp134 Performance Measure - 06-07-2025 07:53:08