Virginia Tourism Corporation

Information for Virginia's Travel Industry

  • about
    • Contact VTC
    • Operations and Finance
    • Virginia Tourism Corporation Board of Directors
    • Employment Opportunities
    • Directions to Virginia Tourism Corporation Office
    • Virginia Film Office
  • marketing
    • Brand Management
      • VTC Industry Advertising Program
    • Communications
      • Public Relations
    • Digital Marketing
      • Marketing on Virginia.org
    • LGBT Marketing and Partnerships
    • Group Tours, Meetings and Sports Marketing
    • Consumer Services and Fulfillment
      • Virginia Welcome Center Services
    • International Sales & Marketing
  • grants
    • VTC Marketing Leverage Program
    • Virginia World War I and World War II Tourism Marketing Program
    • American Evolution™ 2019 Commemoration Finale Grant Program
    • Music Festival Sponsorship Program
    • Tourism Development Financing Program
  • partnership marketing
    • Business Assistance
    • Development Assistance Resources
    • Tourism Development Team
    • Workshop and Educational Opportunities
      • Virginia Tourism Orientation Program
    • DRIVE Tourism
    • Tourism Development Financing Program
    • Tourism Zones
    • GO Virginia
  • research
    • Economic Impact of Travel
    • Travel Data and Profiles
    • Lodging Reports
    • Research Reports
    • Virginia Excise Tax Rates and Collections
    • Research Links
  • essentials
    • Sign Up for the Virginia Travel Post
    • Employment
    • Bulk Publication Order Form
    • LOVEwork Request
    • Tourism Industry Contacts
    • Logo Request
    • Photo & Video Guidelines
    • Merchandising
    • Virginia is for Lovers Store
    • VTC Orientation
    • Visitor Centers Seminar
    • Virginia Film Office
    • Keep Virginia Beautiful
    • Virginia Green
    • VA-1 Tourism Summit
You are here: Home / Commonwealth of Virginia Tourism Development Financing Program / The Application Process

The Application Process

Commonwealth of Virginia Tourism Development Financing Program

Below is an outline of the TDFP application process, step-by-step, which is managed by VTC.

IDENTIFY A PROJECT

  • The locality is the Applicant and identifies a tourism deficiency (void) in their local business community
  • The Developer is the sole owner of all debt with Lenders and secures all  financing, including the gap loan

CREATE + SUBMIT TOURISM DEVELOPMENT PLAN

  • Prove the project fills a tourism deficiency (void)
  • Identify positive $ impact on local business community
  • VTC approves before Step 3

PAY APPLICATION FEE

  • Submit $500 application & processing fee to VTC for website maintenance

VERIFY THE FINANCING + FINALIZE PERFORMANCE AGREEMENT

  • Work with Virginia Resources Authority to verify committed financing, debt structuring and gap reimbursement

CREATE AND VERIFY TOURISM ZONE ORDINANCE

  • Pass A local ordinance creating a tourism zone in which the development project’s footprint must be located

ADOPT PROJECT ORDINANCE

  • Pass a local ordinance adopting Steps 1 through 5 including the specific development project by name

APPLICATION REVIEW
STATE COMPTROLLER

  • The State Comptroller reviews Steps 1 through 6
  • Sends certification letter when approved

ANNOUNCE PROJECT CERTIFICATION

  • Coordinate news releases with VTC from the Governor’s office, the Locality and the Developer

PAY DEBT > After business opening

  • The Locality works with Dept. of Taxation to process partner payments for the life of the gap financing debt

Tourism Development Financing Program

  • Commonwealth of Virginia Tourism Development Financing Program
  • The Application Process
    • Identify a Project
    • Tourism Development Plan
    • VTC Application Fee
    • Performance Agreement
    • Tourism Zone Ordinance
    • Adopt Project Ordinance

Related Links

  • Code of Virginia
  • TDFP Guidelines 2018
  • Tourism Development Financing Plan Template
  • *NEW: TDFP Overview Video*

Contact

Wirt Confroy
Director of Business Development
wconfroy@virginia.org
804-545-5552
Tyler Carroll
Business Development Specialist
tcarroll@virginia.org
804-545-5551
  • Bloglovin
  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube

Contact Us
Careers
Virginia is for Lovers Website
Virginia Film Office
Press Room
Log into Administration Tool
Virginia is for Lovers Store
Privacy Policy


VTC Expenditures
View VTC’s Expenditures
eVA Transparency Reports
eva Transparency Reports

Copyright © 2019 – Virginia Tourism Corporation, 901 E. Cary St., Suite 900, Richmond, VA 23219

(804) 545-5500, webmaster@virginia.org

All rights reserved.

This site uses cookies to enhance the user experience and measure marketing activities.
By continuing to use this website, you agree to their use. To find out more, please see our Privacy Policy
Accept