Virginia Residential Development Infrastructure Pilot Program established; sunset. Establishes the Virginia Residential Development Infrastructure Pilot Program (the Program) for the purpose of assisting local governments with the costs incurred for expanding or improving public infrastructure needed to support new residential development. The bill requires the Department of Housing and Community Development (the Department) to enter into a memorandum of understanding with the Financial Viability Manager, as defined in the bill, to provide a written financial viability and feasibility report to the Department as to the financial propriety of each proposed loan to a local government. The bill authorizes the Department to determine the interest rate and terms and conditions of any loan from the Program. The bill states that the Program sunsets on July 1, 2028.