Virginia Housing Policy Advisory CouncilSeptember 1, 2015

• Dedicated to preserving and maintaining Virginia’s existing housing resources; improving the health and living standards of the people of Virginia; and developing new housing opportunities throughout the Commonwealth. VAHCDO represents agencies and localities that use federal, state and local funds for the development, construction and maintenance of housing

• 75th Anniversary– Established 1941- Public Housing Act 1937– Membership comprised mostly of redevelopment and housing

authorities and units of local government

• 75 year old stock,• Diminished Federal Funding, significant

backlog of capital needs• High density of poverty• Public/ Private Partnerships– Mixed Finance– RAD– VHDA/VAHCDO RAD Workgroup

• Norfolk RHA Local Economic Drivers– NRHA HCV program spent 20.2 million in HAP to

1,260 property owners, ripple effect of this 20.2 million produced an additional 8.3 million in Norfolk spending, bringing the total to $28.5 million directly and indirectly supported by HCV program

• Public Housing– 27 PHA’s operating public housing units– 19,000 total units– $5.2 mil Operating Subsidy (2014 excluding

northern Virginia) – $26.1 mil Capital Fund– $2.4 resident initiative

• 3 mil Roanoke RHA –Jobs Plus Program

• Total of $34 million

Housing Choice Voucher/Rental Assistance

– $248,495,046(FY 2015, excludes N.VA)– 1.13 million veterans assisted supportive housing

(VASH)

• Total 250 million in rental assistance

Housing Trust Fund– Langston Park Apartments-56 unit/9.8 million

Hopewell RHA/Community Housing Partners– Stonebriar-24 unit/1.9 million Wise County RHA– Commerce Village-30 unit/4.1 million

Harrisonburg RHA

Housing Trust Fund– VAHCDO supports “sustainable” HTF• Encourages use of excess revenue from the forecasted

recordation tax-Senator John Watkins • Local HTF

– Other Opportunities– Social Impact Bonds– Resources to support collaborative planning, evaluation and

data collection systems on community investment indicators