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2025 Session

Budget Amendments - SB800 (Committee Approved)

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Removal or Rehabilitation of Derelict Structures Fund for Affordable Housing Pilot

Item 103 #2s

Item 103 #2s

First Year - FY2025 Second Year - FY2026
Commerce and Trade
Department of Housing and Community Development FY2025 $250,000 FY2026 $0 GF

Language
Page 111, line 49, strike "$150,752,325" and insert "$151,002,325".

Page 113, line 35, strike "9,000,000" and insert "$9,250,000".

Page 114, after line 13, insert:

"5. Out of the amounts in this paragraph, $250,000 the second year from the general fund is provided for a pilot program in Tazewell County for remediation of blighted properties in the Town of Richlands to create affordable housing construction sites. Notwithstanding § 36-155, Code of Virginia, the maximum grant award and local match requirements shall not apply to the amounts provided in this paragraph."



Explanation

(This amendment provides $250,000 GF the first year to the Removal or Rehabilitation of Derelict Structures Fund for Tazewell County to work with The Town of Richlands to plan for and execute the remediation of blighted properties in order to build affordable housing on the newly cleared sites. At a cost of $20,000 per property for demolition, debris removal, and administrative and legal activities, 12 structures could be addressed with this funding.)