AGENDA DATE: 5/1/2024
TITLE:
Title
Recommendations for the Affordable Housing FundBODY
SUBJECT/PROPOSAL/REQUEST: Consideration of proposed uses of Housing Fund Reserve
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Rosenberg, Curfman, Dimock, Pethia
PRESENTER (S): Stacy Pethia, Assistant Director of Housing
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: Since Fiscal Year 2019, Albemarle County has maintained a Housing Fund to support housing initiatives that further the County's strategic and housing goals, which were adopted by the Board on July 7, 2021. The County has received two requests for funding from Piedmont Housing Alliance (PHA) and the City of Charlottesville.
Albemarle County has received a request for funding support in Fiscal Year 2024 (FY 24), from PHA. PHA submitted a formal request for financial support as part of the Albemarle County FY 24 budgeting process through the Community Non-Profit Capital Request Process on December 9, 2022 (Attachment A). Staff recommended that the item be considered for funding from the Housing Fund.
The City of Charlottesville has requested the County partner with them on the completion of a homeless services assessment. The County's share of the cost to complete the assessment is $100,000.
STRATEGIC PLAN: Quality of Life - Encourage a vibrant community with economic and recreational opportunities that serve all community members.
DISCUSSION: Staff evaluated both requests for Housing Fund support and found them to be in alignment with Albemarle County's affordable housing goals.
Staff recommends funding PHA's request for $2,025,000 to support the construction of 60 units of affordable housing for low-income families and seniors in Phase II of the Premier Circle project. The units will be built to Enterprise Green Communities and Passive Housing energy efficiency standards, providing benefits to residents through increased durability, healthier interiors, and ...
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