RD739 - The Virginia Housing Trust Fund Loan and Grant Fund Impacts and the FY 2025 Structure and Use Plan – November 2024


Executive Summary:

The following report complies with the requirements as specified in Item 114 E.2 of Chapter 2 of the 2022 Acts of Assembly Special Session I and § 36-142 E of the Code of Virginia.

The Department of Housing and Community Development (DHCD) must submit a plan outlining the proposed uses of funds appropriated to the Virginia Housing Trust Fund (VHTF) required by § 36-142 E., Code of Virginia. DHCD must also report on the impact of the loans and grants awarded through the fund, including but not limited to: (i) the number of affordable rental housing units repaired or newly constructed, (ii) the number of individuals receiving down payments and/or closing assistance, (iii) the progress and accomplishments in reducing homelessness achieved by the additional support provided through the fund, and (iv) the progress in expanding permanent supportive housing options per Item 114 E.2 of Chapter 2 of the 2022 Acts of Assembly Special Session I.