Governor Northam Announces Major Investments in Affordable Housing for Virginians
Virginia Governor Ralph Northam announced that his proposed budget will include $92 million in new funding to address housing affordability, eviction rates and supportive housing throughout the Commonwealth. The proposal includes:
$63 million investment in the Virginia Housing Trust Fund to provide financing for housing construction projects that create or preserve affordable units, reduce the cost of affordable housing or increase homeownership.
$6.6 million to establish an Eviction Prevention and Diversion Pilot Program.
$22.4 million to ensure populations with special needs have access to safe, affordable housing – including $8.9 million for 350 new rental assistance slots for individuals with intellectual and developmental disabilities; $8 million in permanent supportive housing funds for individuals being discharged from state behavioral health facilities; and $5 million to increase funding for statewide discharge assistance plans.