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§ 16-51 — Created

Code of the City of Richmond, Virginia, 2026 (Recodification codified through Ordinance No. 2025-207, adopted October 14, 2025) · Richmond, Va., City Code § 16-51

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Sec. 16-51. - Created.

There shall be created a fund identified as the Affordable Housing Trust Fund. The fund shall be funded through annual appropriations made by the City Council and such other sources of revenue as the Council may appropriate thereto from time to time. The purpose of the fund shall be to aid in meeting the needs of low and moderate income households in the city by providing loans and grants to for-profit and nonprofit housing developers and organizations for the acquisition, capital and other related costs necessary for the creation and preservation of affordable rental and owner-occupied housing in the city in accordance with Code of Virginia, § 15.2-958.5.

(Code 2004, § 58-101; Code 2015, § 16-51; Code 2020, § 16-51; Ord. No. 2008-114-98, § 1, 5-27-2008; Ord. No. 2012-155-128, § 2, 7-23-2012; Ord. No. 2021-285, § 1, 11-8-2021)