2:00PM, PUBLIC MEETING NOTICE Thursday, October 29, 2020 at 2 p.m. The Task…
7:00PM, The meeting of the Fairfax County Redevelopment and Housing…
7:30PM, The meeting of the Fairfax County Redevelopment and Housing Assistance…
7:00PM, The First-Time Homebuyers Orientation is an introduction to the full…
7:00PM, The regular meeting of the Fairfax County Redevelopment and…
October 22, 2020
The Affordable Housing Preservation Task Force launched a power-packed, fast-paced work schedule to provide recommendations that will preserve the county’s existing portfolio of market affordable and committed affordable housing. Under the leadership of Co-Chairs Melissa McKenna (Vice Chair, Fairfax County Redevelopment and Housing Authority) and Walter Clarke (Commissioner, Fairfax County Planning Commission) the task force has formulated a 5-month work schedule to gather information, review data and formulate policy recommendations that will help achieve the Board of Supervisors commitment to “No Net Loss” of existing affordable homes. “I am very pleased that the work of the Affordable Housing Preservation Task Force is well underway. It’s a great team of experts committed to providing the Board of Supervisors with a set of strategic recommendations for one of the most critical challenges our community is facing – the loss of our existing stock of affordable housing,” said Board of Supervisors Chairman Jeff McKay. During the task force’s initial meeting, the group undertook several key procedural measures – including adoption of the official Charter and a reaffirmation of the principles and recommendations incorporated in the Communitywide Housing Strategic Plan – and received an in-depth presentation relative to One Fairfax, the County’s racial and social equity policy. “With the abbreviated timeframe to get this work done, it was imperative for the task force to get off to a very productive and energetic start,” said Co-chair Melissa McKenna. "The presentation by our Chief Equity Officer was extremely helpful in considering critical questions we should be asking to apply an equity lens to this work or preservation – which is of critical importance when considering our pursuit of One Fairfax.” View Meeting Market affordable” homes are those considered to be affordable to households earning 60 percent of the area median income (AMI) or below – about $75,000 or less per year for a family of four. The county’s stock of “market affordable” rental homes faces three critical pressures: Redevelopment of older apartment complexes The renovation and/or “repositioning” of previously affordable properties Household incomes are not able to keep pace with the increases in rent In considering the make-up of the team and the potential workgroups that will be required to achieve such a broad reaching topic, the task force also organized a special group to consider recommendations regarding the preservation of mobile home communities in the County. The Preservation Task Force is expected to complete its work during the first quarter of 2021. Expected work products will include: Definitions for the types of preservation that can occur in communities Typology of properties at risk and characteristics to guide prioritizing properties or neighborhoods in need of action sooner A comprehensive set of preservation strategies the includes recommended policies and tools to achieve the goal of no net loss of affordability “Over the past several months, we have seen just how critical access to a safe, decent and affordable home can be,” said task force Co-Chair Walter Clarke. “With so many of our neighbors fighting each day just to keep a decent roof over their heads, we should be fighting just as hard to preserve every affordable housing option we have to ensure those opportunities for the long term. I am thrilled by the enthusiasm, expertise, and pure grit of this group to undertake such an essential task in such an aggressive timeframe.” The Preservation Task Force Website will be regularly updated with meeting summaries, recordings, presentation materials and other updates pertaining to its ongoing work. Additionally, residents may submit comments to the task force for their consideration and subscribe to receive periodic email communications as the work progresses.
FCRHA is Sponsor For An Additional $6 Million in Virginia Housing Funding to Assist First-Time Homebuyers
October 19, 2020
The Fairfax County Redevelopment and Housing Authority (FCRHA) has been approved for set aside funding in the amount of $6 million from Virginia Housing through the Sponsoring Partnerships and Revitalizing Communities (SPARC) loan program to assist first-time homebuyers in purchasing a home by lowering their interest rate by one percent. These funds should be able to assist approximately 16 families buying homes in Fairfax County. SPARC funds are a state-wide allocation of tax-exempt mortgage revenue bond monies that provide first-trust financing at an interest rate that is one percent below the Virginia Housing rate. The funds are not received by the County or FCRHA; nor is there a County match. The funds are made available to qualified lenders directly from Virginia Housing upon approval of the loan documents by Fairfax County Department of Housing and Community Development staff. Including this most recent set aside, the FCRHA has sponsored $14 million in SPARC funding in 2020. As of August 2020, all but $85,000 of the original set aside funding, reserved in February, was expended and 24 households with 59 family members were able to buy homes in Fairfax County. The average home sales price was $345,000 and some interest rates were below 2.0 percent. Under SPARC, homebuyers must meet Virginia Housing’s eligibility and underwriting requirements for its first-time homebuyer program. Loans are originated through Virginia Housing and their lending partners with the FCRHA serving as the Sponsor that approves the lender’s reservation for SPARC funding.
October 9, 2020
Through this COVID-19 pandemic, we’ve all heard how we’re safer at home; but what about those who don’t have a place to call their own or who are struggling to remain in their homes? With so many essential workers struggling to make ends meet amid the impacts of COVID-19, through no fault of their own, the work of enhancing the County’s stock of housing that is affordable is more important than ever. “Home is really the foundation of success for both the community and for families,” said Tom Fleetwood, Director of Fairfax County’s Department of Housing and Community Development. “Safe and affordable housing, and access to affordable housing in all parts of Fairfax County is also essential to us being the type of community that we want to be, an equitable community where everyone has access to opportunity.” This global pandemic has increased the urgency to ensure that Fairfax County continues to advance the work of providing more housing that is affordable through development, strategic investment, and in its inclusionary land use policies. The following video highlights the work of the Fairfax County Redevelopment and Housing Authority and the Department of Housing and Community Development, and how they have creatively continued to make persistent progress amid the difficult challenges presented by this pandemic.