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Governor Announces Millions in Statewide Housing Trust Fund Grants

Governor Announces Millions in Statewide Housing Trust Fund Grants

On January 19th, Governor Terry McAuliffe announced today more than $6.9 million in Housing Trust Fund grants and loans for the Homeless Reduction Grant and the Competitive Loan Program. Statewide 23 projects will receive grants through these two programs of the Virginia Housing Trust Fund. The Trust Fund is intended to create and preserve affordable housing and to reduce homelessness in the Commonwealth.  Of those grants, six organizations in Hampton Roads will be getting over $1.2 million dollars for programs and projects aimed at ending homelessness and making housing more affordable.

“Building a new Virginia economy means expanding economic security and opportunity to Virginians from every walk of life – and access to secure and affordable housing is an essential part of that effort,” said Governor McAuliffe.  “The Virginia Housing Trust Fund uses innovative funding tools to promote affordable housing and homelessness prevention across the Commonwealth. I am proud to award these grants and watch them work to improve real people’s lives and grow our economy.”

 

The Competitive Loan Pool is intended to create and preserve affordable housing units within the Commonwealth. The program provides assistance in the form of loans to projects that will meet local affordable housing needs and support the state housing policy.

The Homeless Reduction Grant program is designed to reduce homelessness within Virginia. It provides assistance to projects that address homelessness needs in the Commonwealth and supports the state housing policy. The projects are expected to decrease the length of time individuals experience homelessness, decrease the number of new incidents of homelessness and decrease the number of individuals returning to homelessness.

 

Hampton Roads Recipients of 2015 Virginia Housing Trust Fund Competitive Loan Pool Funding:

Organization

Project Name

Locality

Amount

HEGM Corporation

Ada Park

City of Newport News

$289,304

Second Act Communities SM (formerly known as Virginia Housing Corporation)

Cypress Landing

City of Chesapeake

$600,000

TOTAL:

$889,304

 

Hampton Roads Recipients of 2015 Virginia Housing Trust Fund Homeless Reduction Grants:

Organization

Service Area

Amount

3E Restoration Inc.

Cities of Hampton, Williamsburg, Newport News and Poquoson, and James City and York counties

$100,000

ForKids Inc.

Cities of Norfolk, Chesapeake and Suffolk

$81,265

Samaritan Housing Inc.

City of Virginia Beach

$100,000

The Planning Council

Cities of Norfolk, Chesapeake and Suffolk

$99,935

TOTAL:

$381,200

For the entire statewide list of grantees, visit: https://governor.virginia.gov/newsroom/newsarticle?articleId=13949#sthash.GbliQCtP.dpuf

 

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