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2022 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Hashmi
Co-Patron(s): Barker, McClellan
Restorative Homeownership Pilot Program

Item 114 #2s

Item 114 #2s

First Year - FY2023 Second Year - FY2024
Commerce and Trade
Department of Housing and Community Development FY2023 $5,450,000 FY2024 $5,450,000 GF

Language
Page 96, line 7, strike "$346,496,495" and insert "$351,946,495".
Page 96, line 7, strike "$396,496,495" and insert "$401,946,495".

Page 97, after line 52, insert:

"K. Out of the amounts in this Item, $5,450,000 the first year and $5,450,000 the second year from the general fund is provided to establish a Restorative Homeownership Pilot Program to provide down payment assistance for low-income, first-time homebuyers in the Richmond Metropolitan Statistical Area."



Explanation

(This amendment provides $4.5 million GF in each year to establish a Restorative Homeownership Pilot Program, a robust down payment assistance program for low-income first-time homebuyers in the Richmond Metropolitan Statistical Area.)