Governor Glenn Youngkin announced the appointment of Scott Mayausky to the Board of Directors for the Virginia Resources Authority (VRA).
The VRA was created 40 years ago and charged by the General Assembly with the mission of “working with its state agency partners, stakeholders, and local governments,” according to a news release. Mayausky says the agency “provides cost-effective and innovative financial solutions for borrowers to support vibrant and resilient communities. By utilizing federal and state resources, the VRA is able to pool money and offer low interest rate loans to local governments of all sizes.”
In its 40-year history, the VRA has financed over 3,500 infrastructure projects accounting for over $12 billion in local government investment.
The VRA Board of Directors is an eleven-member board appointed by the governor that provides oversight on operations and provides policy and strategic guidance.
Since 2004, Stafford County has borrowed over $294 million from the VRA to fund a variety of projects. From local dam restoration projects, such as Hidden Lake and Lake Arrowhead, to large upgrades to water treatment facilities, the VRA has been a partner to local governments throughout the Commonwealth.
Said Mayausky: “I am honored by this appointment and appreciate the trust Governor Youngkin has shown in me to serve on the Virginia Resources Authority. I am excited to get to work and help localities throughout the Commonwealth build the infrastructure they need to best serve their communities.”
“Given Commissioner Scott Mayausky’s expertise in public finance and his deep knowledge of local government, I am confident he will bring a wealth of knowledge to the Virginia Resources Authority,” added state Sen. Tara Durant (R-Stafford). “Governor Youngkin hit a home run with this appointment.”
