Front Royal, VA — RSW Regional Jail announced today that it had received the State reimbursement for the jail construction. In order to encourage the creation of regional jail authorities, the Virginia General Assembly has authorized State reimbursement of up to one-half of the eligible construction costs of a regional jail. Since the jail authority must borrow the funds to pay for the construction of the jail prior to reimbursement, the State also reimburses the jail authority for one-half of the interest expense on the financing during construction.
The RSW Regional Jail Authority received funding today of $33,981,670.76, which represents one-half of the eligible costs of construction and eligible interest expense of the regional jail that opened July 1, 2014. The amount received will be used to pay off the $32,840,850 note and associated interest expense that the Authority issued in anticipation of receiving this State reimbursement. The Authority appreciates the partnership with the Commonwealth in providing funding for the construction of the regional jail.
Doug Stanley, Warren County Administrator and RSW Regional Jail Authority Chairman, praised the project team members including Davenport & Company LLC, Sands Anderson, Hefty and Wiley, Shenandoah and Warren County staff and RSW Regional Jail Authority Superintendent Bill Wilson and his staff for their hard work in completing all of the required paperwork to complete the reimbursement request. “This was the last major piece of this project to be completed. In total the Commonwealth of Virginia paid 49.80% of the $65,652,970 total cost of the new facility. This was the primary reason that the individual localities chose to build a regional facility rather than construct individual jail facilities.”