Regional Affordable Housing Demands Sought | Business
STAR-EXPONENT STAFF REPORT
Affordable housing developers in the region are invited to submit proof of concept submissions for projects that will increase the number of affordable housing in the Rappahannock-Rapidan Regional Commission area of ââinfluence, the agency said on Wednesday.
The funding is part of a $ 2 million award from the Virginia PDC Housing Development Program.
According to the Commission, the submission of the proof of concept is the first step in the overall application process and is designed to allow interested partners to provide a brief overview, goals, objectives and expected results of the proposed projects, as well as the expected funding demand, number of units to be produced, organizational capacity, targeted income levels and location of the project.
The information gathered at this stage will allow the Regional Commission to determine the overall interest of the funding available and identify the most suitable projects for funding, he said. Selected projects will move on to a second application phase which will allow partners to submit detailed timelines, scopes of work, action plans and produce additional financial information for funding review.
âWe are pleased to announce this process and begin to identify partners who will increase the number of affordable housing units in the region,â RRRC Executive Director Patrick Mauney said in a statement. âThe grant received from Virginia Housing is timely, with the Commission’s regional housing study completed earlier in 2021, and our local government and housing partners indicate a growing need for diverse housing options according to income levels in the region. â