IN GENERAL

Richmond, Va., City Code ch. 16, art. III, div. 1

in effect

Richmond, Va., City Code § 16-51 Created.

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)

Richmond, Va., City Code § 16-52 Definitions.

Sec. 16-52. - Definitions. The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning: Affordable housing means housing that a household can afford without paying more than 30 percent of income for rent or 35 percent of income for mortgage payments. Affordable Housing Trust Fund or fund means a community revitalization fund created by Section 16-51 pursuant to authority granted by Code of Virginia, § 15.2-958.5. Area median income means the median income determined annually for the Richmond-Petersburg Metropolitan Statistical Area by the United States Department of Housing and Urban Development. Construction-related activities means any of the following: (1) Predevelopment activities, including, but not limited to, architectural services, engineering services, attorney's fees, appraisals and title reports. (2) On-site construction activities involving the building, altering, repairing, improving or demolishing of any structure or building on real property. Low and moderate income means gross household income adjusted for family size that is at or below 80 percent of area median income, as "area median income" is defined by the United States Department of Housing and Urban Development. Recipient means a legal entity who receives one or more grants or loans from the fund under the provisions of this article. (Code 2004, § 58-102; Code 2015, § 16-52; Code 2020, § 16-52; 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)

Richmond, Va., City Code § 16-53 Purpose.

Sec. 16-53. - Purpose. The purpose of all expenditures from the fund shall be to accomplish one or more of the following goals: (1) Promote the development of affordable housing in mixed-income neighborhoods in the city. (2) Provide funding for the rehabilitation of vacant buildings for residential purposes or the rehabilitation of residential properties in communities with high foreclosure rates or blighted properties, including owner-occupied blighted properties. (3) Support the productive reuse of properties declared surplus by the City for residential purposes. (4) Implement universal design principles and accessibility for disabled persons. (5) Promote energy efficient and sustainable design in newly constructed and rehabilitated affordable housing in the city. (6) Provide for the Chief Administrative Officer or the designee thereof to administer the fund and the programs for which the fund pays. (7) Leverage funds from other sources to accomplish all of the purposes set forth in this section. (8) Advance any housing-related plan implemented by the City in accordance with applicable law or otherwise adopted by the Council. (Code 2004, § 58-103; Code 2015, § 16-53; Code 2020, § 16-53; Ord. No. 2008-114-98, § 1, 5-27-2008; Ord. No. 2009-220-2010-8, § 2, 1-25-2010; Ord. No. 2012-155-128, § 2, 7-23-2012; Ord. No. 2021-285, § 1, 11-8-2021)

Source: City of Richmond, Virginia, Code (2026 recodification) and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/va/richmond/codes/code_of_ordinances?nodeId=PTIICICO_CH16HO_ARTIIIAFHOTRFU_DIV1INGEFetched: 11/8/2026