26953 - Regional Housing Development Grant (open to Virginia's Planning District Commissions)
Funding Opportunity Details

02 Community Impact Support

Final Application Deadline: Mar 3, 2025 11:59 PM

Description

• Virginia Housing – Notice of Funding Opportunity

  Regional Housing Development Program

  January, 2025

   

  The Virginia Housing Regional Housing Development Program (RHDP) funds Virginia’s Planning Districts Commissions (PDCs) as intermediaries to support:

  • Regional approaches to housing development,
  • Enhancing collaboration between regional and local organizations comprising the housing delivery network, and
  • Strengthening the PDC capacity to address housing needs identified in studies and the Virginia Housing Strategic Plan.

   

  This program is a continuation of the previous PDC Housing Development Program. The intended outcomes are the production of new affordable and workforce housing units that can serve as a model for further development both within the sponsoring PDC as well as other PDCs throughout the Commonwealth. This housing production can result from the construction of new units, the acquisition and rehabilitation of existing vacant units, or the adaptive re-use of existing structures to incorporate housing units.

   

  This program seeks to increase the inventory of affordable housing units in underserved markets, including rural areas and historically marginalized communities, with a focus on first-time homebuyers. This program is also intended to foster income and economic integration through housing development and revitalization projects in areas of opportunity that include mixed-use and/or mixed-income rental developments.  This program supports the production of single-family and/or multifamily affordable housing units. Rental units must remain affordable to individuals or families whose incomes do not exceed 80% of Area Median Income (AMI). These units may be a portion of a larger mixed-income development. Homeownership units must have a sales price and income limits consistent with Virginia Housing limits for that area or region. Mixed use developments must designate at least 60% of its square footage for housing.

   

  Eligibility Guidelines

  To be eligible for RHDP funds, the applicant must be designated as a Planning District Commission as set forth in CODE OF VIRGINIA, SECTION 15.2- 4200 et. seq.

   

  Application Requirements

  Requests for funds under the Regional Housing Development Program must be submitted in the Grants Management System at vhdagrants.com by the deadline listed. Eligible applications will be scored and ranked, with the highest ranking applicants receiving a grant offer. Virginia Housing reserves the right to reject funding requested for any applications that are outside the program requirements listed in the Handbook.

   

  Submitted applications should include descriptive information about each of the PDC’s proposed projects including location, number of units, type of units, income levels to be served, development partners and qualifications, and project budget including sources and uses of funds. Requests cannot exceed $1,500,000.

   

  Program Parameters

  Approved agencies must comply with the Virginia Housing Regional Housing Development Program Handbook. Click the document below for a detailed explanation of the scope, disbursement, and reporting requirements.
  The budget and period of performance for this grant is twenty-four (24) months from grant award.
   

  Decision Process

  Funds will be awarded based on an assessment of the organization’s application and the availability of Virginia Housing funds. The selected organization will receive a Grant Award Notification (GAN) and a Grant Agreement if approved for funds under the award.

   

  All applicants have the option to submit a request at Grants@VirginiaHousing.com for a debriefing within thirty (30) days of approval or denial.