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2008 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Hull
Co-Patron(s): Suit
Affordable Housing Study

Item 109 #2h

Item 109 #2h

First Year - FY2009 Second Year - FY2010
Commerce And Trade
Housing and Community Development, Department of FY2009 $450,000 FY2010 $0 GF

Language
Page 91, line 12, strike "$45,187,336" and insert "$45,637,336".
Page 92, after line 21, insert:
"F. Out of the amounts for this item, $450,000 the first year from the general fund shall be provided for a research study of the need for affordable housing, to be undertaken jointly by the Office of Housing Policy Research at George Mason University and the Virginia Center for Housing Research at Virginia Tech.  The study shall encompass analyses of 1) the housing situation throughout Virginia; 2) the "true" cost of housing throughout Virginia; 3) the economic impact of the unmet housing needs throughout Virginia; and 4) the cost to supply adequate workforce housing throughout Virginia.  Any balances for the purposes specified in this paragraph which are unexpended at the close of business on June 30, 2009, shall not revert to the general fund but shall be carried forward and reappropriated for such purpose in fiscal year 2010."


Explanation
(This amendment provides $450,000 in the first year from the general fund for a research study of the need for affordable housing and the economic impact of unmet housing demand in the Commonwealth. The study would be jointly conducted by the Office of Housing Policy Research at George Mason University and the Virginia Center for Housing Research at Virginia Tech.)