2006 Special Session I

Budget Amendments - HB5002 (Committee Approved)

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Washington Area Housing Trust Fund

Item 481 #51h

Item 481 #51h

First Year - FY2007 Second Year - FY2008
Nonstate Agencies
State Grants to Nonstate Entities-Nonstate Agencies FY2007 $250,000 FY2008 $0 GF

Page 418, line 4, strike "$19,210,000" and insert "$19,460,000".
Page 419, after line 49, insert:
"Washington Area Housing Trust Fund     250,000      0".

(This amendment provides $250,000 the first year from the general fund to the Washington Area Housing Trust Fund for loan capital to provide early short-term loans to help address the critical shortage of affordable housing in Northern Virginia. None of the requested funding would be used to support the organization's operating costs. Commonwealth funding will help leverage additional contributions from financial institutions.)