IDA Performance Grants for Affordable Housing Projects

Overview

During the regular 2026 Session, the General Assembly passed House Bill (HB) 352, which allows the County, by ordinance, to establish an affordable housing performance grant program for qualifying construction and improvement of real property to be awarded by the Industrial Development Authority (IDA). HB 352 amended Virginia Code Sections 15.2-958.4:1 and 15.2-4905. Supervisor Bailey would like to direct the County Executive to work with staff, the IDA, and its legal counsel, as appropriate, to review HB 352 and provide recommendations to the Board on a potential ordinance to establish such a program. The County Executive is directed to bring back any appropriate recommendations for the Board’s consideration. Such recommendations should, where applicable, include timelines, fiscal impacts, and other pertinent impacts for Board consideration. The timelines should include the process for the required public hearing for adoption of any ordinance. The County Attorney’s Office is directed to review the information and recommendations for any legal issues. When the research and work are complete, the County Executive should report back to the Board with the research and recommendations during a Board meeting or by memorandum, as appropriate.

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