"Affordability is also emerging as the central fault line of next year's elections. Polls show the cost of living eclipses other issues as the top concern among voters, and both major political parties are scrambling to frame a credible plan to lower prices on everything, including housing. Spanberger's plan would resurrect proposals that Republican Gov. Glenn Youngkin either vetoed or underfunded last year."
"Give localities a stronger first look or first-purchase opportunity when subsidized affordable properties come up for sale, so cities and counties can keep those homes affordable instead of losing them to market-rate conversions. Require each locality to identify concrete options for increasing affordable housing availability, effectively forcing local governments to put pro-housing tools like zoning changes, preservation strategies or incentives on the table instead of treating affordability as optional."
Affordable housing and the broader cost of living are the top voter concerns heading into next year's elections. The Affordable Virginia package proposes multiple tools to expand affordable housing supply and lower living costs. Proposals include giving localities a stronger first-look or first-purchase right on subsidized affordable properties to prevent market-rate conversions; requiring local governments to identify concrete zoning, preservation, or incentive options to increase housing availability; creating a revolving loan fund for mixed-income developments with below-market financing; expanding the eviction-reduction program; and steering more private activity bond capacity to the housing department.
Read at www.housingwire.com
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