RICHMOND, Va. (WAVY) — Virginia’s Planning District Commissions just received $40 million to help provide more affordable housing in the Commonwealth.
The grant from Virginia Housing’s REACH program will be used for a number of local housing needs across Virginia including:
- financing new affordable homeownership opportunities
- renovating vacant and blighted properties
- supporting the development of a regional housing trust fund
- and creating upper-story housing in downtown business districts
PDCs are able to provide a variety of technical and program services to local governments, including strategic planning, administration of housing program funds, land use planning, and transportation planning.
The $40 million grant program is a new initiative provided through Virginia Housing’s REACH Virginia program. The program uses Virginia Housing’s own resources to provide support to local housing groups, non-profits, developers and other partner groups working to meet affordable housing needs.