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$6 million in Homeless Reduction Grants to help fund 38 housing projects
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Virginia Housing Trust Fund awards $6M in Homeless Reduction Grants
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The first apartments opened in 2007. Valley Supportive Housing which now has 38 affordable supportive apartments.
The VHTF is coordinated through the state Department of Housing and Community Development. In the current fiscal year, more than $55 million was invested into it by the General Assembly, and Northam has proposed upping that to $70.7 million.
It is designed to finance affordable-housing initiatives supporting low- and moderate-income families, and homeless-reduction grants.
The process for obtaining VHTF financing is competitive. According to Northam s office, 43 applications were received for this round of funding.
Funding was also granted to programs in Petersburg, Richmond, Newport News and Northern Virginia, among others.
Funding will support construction, rehab of affordable, permanent supportive housing units
Published Tuesday, Mar. 2, 2021, 12:01 pm
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Front Page » Government/Politics » Politics2 » Funding will support construction, rehab of affordable, permanent supportive housing units
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Gov. Ralph Northam announced Monday more than $24 million in Affordable and Special Needs Housing loans for 28 projects across the Commonwealth, creating or preserving 1,635 affordable housing units for low-income Virginians.
The funding will help increase access to affordable housing, reduce homelessness, and provide permanent supportive housing options for individuals with intellectual and developmental disabilities.
NoVA Housing Projects Get $5.5M In Affordable Housing Loans Patch 3/2/2021 Mark Hand © Shutterstock The funded projects across Virginia, totaling $24 million in loans, will create or preserve 1,635 affordable housing units in the state.
NORTHERN VIRGINIA Five affordable housing projects in Northern Virginia will receive a total of $5.5 million in funding as part of Affordable and Special Needs Housing loans approved by the state.
Forty-three affordable housing loan applications were received during the current round of funding, requesting more than $42 million. Proposals were ranked and loans were offered to the highest-ranking proposals based on funding availability.
The funded projects, totaling $24 million, will create or preserve 1,635 affordable housing units, targeting low-income and very low-income Virginians, according to the state.
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