AGENDA DATE: 2/19/2025
TITLE:
Title
Revitalization Area Designation - Parkview at South Pantops
BODY
SUBJECT/PROPOSAL/REQUEST: Resolution supporting determinations for Virginia Housing Low Income Housing Tax Credit project located at 210 South Pantops Drive.
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Richardson, Dimock, Herrick, Curfman, Pethia, Rennolds
PRESENTER (S): Shaqual Rennolds, Housing Programs Coordinator
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: Parkview at South Pantops apartments (Tax Map Parcel 07800-00-00-020Q0) is an existing 4-story, 90-unit low-income senior apartment building placed in service in 2006. Parkview consists of 54 one-bedroom and 36 two-bedroom senior apartments. It serves a low-income senior population. Enterprise Community Development, Inc. is proposing moderate rehabilitation of all 90 units and common areas. Virginia Housing financing through Low-Income Housing Tax Credits will make this rehabilitation possible and preserve the property as affordable.
STRATEGIC PLAN: Quality of Life: Encourage a vibrant community with economic and recreational opportunities that serve all community members.
DISCUSSION: To help obtain this financing, Virginia Housing recommends that the local governing body adopt a resolution (Attachment A) designating the development site as a Revitalization Area as defined under Virginia Code Section 36-55.30:2(A). The designation for the proposed project is based on the following conditions: (1) the project is located in area that is blighted, deteriorated, deteriorating, or, if not rehabilitated, likely to deteriorate by reason that the buildings, improvements or other facilities in such area are subject to one or more of the following conditions: dilapidation, obsolescence, overcrowding, inadequate ventilation, light or sanitation, excessive land cover-age, deleterious land use, or faulty or otherwise inadequate design, quality or condition; and (2) ...
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