AGENDA DATE: 3/17/2021
TITLE:
Title
Revitalization Area Designation - Premier Circle
ODY
SUBJECT/PROPOSAL/REQUEST: Resolution supporting Revitalization Area Designation for Virginia Housing Low Income Housing Tax Credit project on Premier Circle.
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Richardson, Walker, Kamptner, Baumgartner, Filardo, Pethia
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: Virginia Supportive Housing (VSH) is pursuing Low Income Housing Tax Credit (LIHTC) financing for an 80-unit Permanent Supportive Housing project on the Red Carpet Inn site (TMP 061M0-00-00-00600) located on Premier Circle. To support a successful LIHTC application for project financing, VSH is requesting the Albemarle County Board of Supervisors designate the project site as a revitalization area, as defined by Virginia Code ? 36-55.30:2(A).
STRATEGIC PLAN: Infrastructure Investment - Prioritize, plan, and invest in critical infrastructure that responds to past and future changes and improves the capacity to serve community needs.
DISCUSSION: VSH is proposing the development of 80 units of permanent supportive housing for homeless and low-income individuals from Albemarle County and the City of Charlottesville. Each studio apartment will be approximately 350 square feet and will contain a kitchenette with full-size appliances and a full private bathroom. The building, which will be certified for resource and energy efficiency, will contain a community room, a computer room, a fitness room, laundry facilities, a front desk, staff offices for on-site support services and property management staff, and off-street parking. The building will have an extensive security system and the front desk will be staffed sixteen hours a day with a night monitor on-call during the evening hours.
To help obtain this financing, Virginia Housing recommends that the local governing body adopt a resolution designating the deve...
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