Minutes 01/24/1978 - Laserfiche WebLink

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'" "J TUESDAY JANUARY 24, 1978 ~ To Institute a housing program which will by 1976: (1) provide 220 units, for families with annual incomes below $3,000 (that is, rent supplements to low income families); (2) provide 195 units for families with annual incomes between $3,000 and $5,000 (that is, payments to owners of housing projects who rent to low income families); and (3) provide 162 units for families with annual incomes between $5,000 and $7,999 (that is, financial assistance, such as Section 235 and Farmers Home to help individuals purchase their own homes). These three income levels total a housing goal by 1976 of 577 units - 415 subsidized rental units and 162 units of subsidized home ownership. r-- Since May 25, 1972, the date of the Housing Study, Martinsville has pursued the g~als for Housing, as follows: Rivermont, consisting of 100 subsidized rental units was started November 18, 1971 and completed January 26, 1973; Northview Gardens, consisting of 100 subsidized rental units, was started January 26, 1972 and completed October 18, 1973; and Ninety lots for Section 235 Subsidized Home Ownership have been developed. The Housing Assistance Payments Program for Existing Housing, sponsored by the Virginia Housing Development Authority and directed under the auspices of the City Social Services Department, was approved by Council on October 14, 1975. Presently, the program's 136 units are fully occupied. These completed projects total 336 rental units compared to a goal of 415, a deficiency of 79 units, and 90 subsidized home-ownership units as compared to a goal of 162 units, a deficiency of 72 units. The statistics show that the City has pursued its goals for housing as expressed in the Comprehensive plan, although the City does have a deficiency of 79 rental units and 72 home-ownership units. ----- As I see it, the current program for existing housing, that the City is partici- pating in, has been well received by the City's landlords and fs the best of the subsidized rental programs. It does not disturb neighborhoods because no new buildings can be constructed - the program only deals with existing housing and the program encourages rehabiliation and improvement of existing housing stock. And, it is my understanding that the City may get 50 more units from the Virginia Housing Development Authority to add to this program which will reduce the deficiency of subsidized rental housing to only 29 units. Recently Martinsvil1e became eligible for Farmer's Home, and several developers are preparing subdivisions now which should substantially reduce the 72-unit deficiency of subsidized home-ownership units. I think these statistics show that Martinsvil1e is close to meeting the goals for housing as expressed in the Comprehensive Plan, and that a new 100-unit subsidized rental housing development is not needed in Martinsvi1le at this time.