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2007 SESSION

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HB 2010 Affordable housing; localities that adopt program of bonus density will be allowed certain incentiv.

Introduced by: Terrie L. Suit | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Affordable dwelling unit ordinances.  Makes numerous changes to the affordable housing law including authorizing establishment of housing trust funds and allowing acceptance of cash in lieu of affordable units.  This bill was incorporated into HB2010.  This bill incorporates HB2451 and HB2910.

SUMMARY AS PASSED HOUSE:

Affordable dwelling units.  Provides that localities that adopt a program of bonus density in exchange for affordable housing will be allowed certain incentives and that the program may also apply to certain elevator structures above four stories except for localities in Planning District Eight.  Also, such program may include establishment of a local housing fund to help the locality achieve its affordable housing goals.  This bill incorporates HB2451 and HB2910.

SUMMARY AS INTRODUCED:

Affordable dwelling units.  Provides that localities that adopt a program of bonus density in exchange for affordable housing will be allowed certain incentives and the program will also apply to elevator structures above four stories. This bill is a recommendation of the Virginia Housing Commission.