2006 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Scott, J.M.
Virginia Foundation for Housing Preservation

Item 481 #258h

Item 481 #258h

First Year - FY2007 Second Year - FY2008
Nonstate Agencies
State Grants to Nonstate Entities-Nonstate Agencies FY2007 $50,000 FY2008 $50,000 GF

Page 418, line 4, strike "$19,210,000" and insert "$19,260,000".
Page 418, line 4, strike "$600,000" and insert "$650,000".
Page 419, after line 49, insert:
"Virginia Foundation for Housing Preservation     50,000     50,000".

(This amendment provides grants of $50,000 each year from the general fund to support the development of a loan-loss reserve fund by the Virginia Foundation for Housing Preservation. The foundation seeks to attract private lending capital in the preservation of affordable rental units by providing services such as a site acquisition loan fund and by assisting developers with putting projects together for consideration by local government agencies.)