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 development site as a Revitalization Area, as defined under Virginia Code § 36-55.30:2(A). The designation for the proposed project is based on the following conditions: (1) the project is located in area such that the industrial, commercial or other economic development of such area will benefit the city or county but such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area; and (2) private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families in such area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area.
The proposed project qualifies for Revitalization Area designation under condition 2, as well as meeting critical affordable housing needs in Albemarle County.
BUDGET IMPACT: There is no direct budget impact related to this action.
RECOMMENDATION:
Recommendation
Staff recommends the Board adopt the attached resolution (Attachment A) making the determinations requested by Virginia Supportive Housing for the proposed permanent supportive housing project.
ATTACHMENTS:
A - Resolution