The Fairfax County Redevelopment and Housing Authority (FCRHA) has announced the availability of local, state, and federal funds to support the development and preservation of affordable housing in Fairfax County. More than $18.7 million is currently appropriated and is now available for multifamily affordable housing development projects; an additional $15 million in federal funding has been preliminarily identified for this purpose; and additional state funding will be announced in the very near future. Current and anticipated funding includes resources from the county’s Housing Blueprint Fund, the Tysons Housing Trust Fund, the Federal American Rescue Plan Act, and the Virginia Housing Amazon Impact REACH Fund.
The FCRHA is a separate political subdivision of the Commonwealth of Virginia and possesses specific powers granted by state code – including the ability to make loans. As such the FCRHA acts as Fairfax County’s local housing finance agency. The FCRHA’s tax-exempt financing program began in the late 1970s and provides a vehicle for private developers to obtain below-market rate mortgages to acquire, construct and rehabilitate multi-family affordable housing developments.
Funds are awarded through a competitive Request for Proposals (RFP) process based on the eligibility and use requirements designated by the originating fund. Applications are accepted on a rolling basis through June 30, 2022, or until all of the fiscal year 2022 funding is committed.
For complete program details, supporting documents and application instructions, please visit our website at www.fairfaxcounty.gov/housing/development/fundingavailability.
The Fairfax County Department of Housing and Community Development will host a Pre-Application Conference on August 12, 2021. It is anticipated that this conference will be available virtually through Microsoft Teams with a potential in-person option. Details will be provided once they are finalized. You must register to attend. Please send an email to email@example.com to register for the conference by August 6, 2021.