Richmond, VA – According to the state officials, the recommended projects will create and preserve 5,358 total units for low-income and extremely low-income households.
The Virginia Department of Housing and Community Development administers Affordable and Special Needs Housing loans, which combines state and federal resources to provide a simplified and comprehensive application process.
Funding comes from four main sources: the federal HOME Investment Partnerships Program, the federal National Housing Trust Fund, Housing Innovations in Energy Efficiency and the Virginia Housing Trust Fund.
VHTF is funded by the Commonwealth and supports financing for housing construction projects that create or preserve affordable housing units, reduce the cost of affordable housing and increase homeownership.
This funding is a key source of financing for these affordable housing initiatives to support moderate- and low-income families, as well as supporting homeless reduction grants to provide rapid re-housing and longer-term housing solutions for individuals experiencing chronic homelessness.
