Unmet Housing Needs Strategic Plan Update: June 2021
Chair Randall calls on DAAR’s market report once again, highlighting the County’s housing shortage and the need to implement attainable housing strategies.
On Tuesday, June 22nd, the Loudoun County Chamber of Commerce (LCCC) hosted the 2021 PolicyMaker Series: Finding a Solution to Loudoun’s Housing Crisis, their first in-person Policy-Maker event in more than 15 months due to COVID-19 restrictions.
At the event, Board of Supervisors Chair Phyllis Randall addressed the attendees and spoke on the affordable housing work that lays ahead. Chair Randall went on to highlight DAAR’s Q1 2021 Loudoun County Market Indicators Report once again, noting that with only 12 days’ worth of housing stock in the county on average, Loudoun must meet this moment to advance attainable housing efforts.
Additionally, all attendees, including DAAR’s Government Affairs Director, were updated on the Unmet Housing Needs Strategic Plan’s direction and what the next steps are surrounding the policy’s implementation strategies. Here’s where the plan is headed:
- TLUC Recommendation: Sent to September 7th Board Meeting for Action
- Fall 2021: Annual Implementation Plan and Resource Request Review by the Board of Supervisors.
- End of Year: Consideration of $5 million in Fund Balance to Housing Programs.
- FY 2023 Budget Process: Program Funding & Resource Request Review.
The plan’s strategies for supporting current housing production include adding federal and state vouchers, expanding down-payment programs and emergency housing services, and financing market affordable home purchases through the Community Land Trust to name a few.
The plan’s strategies to build upon this and support new housing production include the following:
- Promote 4% LIHTC development.
- Provide incentives in the Zoning Ordinance.
- Density bonuses.
- Parking reductions.
- Expedited review process.
- Use Public Land/Create a Land Bank
- Seek Land Dedications
- Create Loan program for homeownership developments.
For questions, reach out to DAAR’s Government Affairs Director.
June 22, 2021