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1999 Session

Budget Amendments - SB800 (Committee Approved)

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Virginia Housing Partnership Study (language only)

Item 91 #7s

Item 91 #7s

Commerce And Trade
Housing and Community Development, Department of

Language
Page 71, after line 11, insert:  "H.  The Department and the Virginia Housing Study Commission shall study and report on the impact of the Virginia Housing Partnership Fund in meeting the housing needs of Virginia's low- and middle-income citizens.  The report shall include, but not be limited to, a description of projects funded to date and the location of these projects by locality, income levels of populations served, and loan performance including delinquency rates and defaults.  The report shall also include an assessment of the Fund's performance in addressing the purposes for which it was established and an analysis of alternatives in which the state can meet the various housing needs across Virginia.  The Virginia Housing Development Authority is requested to provide assistance in the development of this report.  The report shall be submitted to the Secretary of Commerce and Trade and the Chairmen of the Senate Finance and House Appropriations Committees by December 31, 1999.
".


Explanation
(This amendment directs the agency to study the performance of the Virginia Housing Partnership Fund in meeting the purposes for which it was established. The study is also to address alternatives by which the state can meet the various housing needs of Virginians.)