The Regional + Local Housing Study, completed in 2021, provided seven regional strategies and dozens of individualized local strategies for the region and its localities to pursue. With $2M in implementation funding from Virginia Housing, the Commission is now pursuing one of these regional strategies, the creation of a regional Housing Trust Fund (HTF).
A HTF will act as a locally-controlled bank account to construct or preserve affordable housing throughout the region and will provide funding flexibility currently not available with other state and federal funding sources.
Over the coming months, a regional working board will provide input and oversight to determine the organizational structure, programmatic design, and financial sustainability of the fund. Funding awards are slated for Winter 2023.