{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-958.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-958.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-958.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-958.html"}],"law_id":63172,"edition_id":1,"section_id":63172,"structure_id":13545,"section_number":"15.2-958","catch_line":"Local funding for repair or production of low and moderate income rental property or repair of residential property; other housing experiments","history":"1988, c. 862, \u00a7 15.1-37.3:9; 1993, c. 791; 1995, c. 393; 1997, c. 587; 2008, c. 580.","full_text":"It is hereby declared that the preservation of existing housing in safe and sanitary condition and the production of new housing for persons of low and moderate income are public purposes and uses for which public money may be spent, and that such preservation and production are governmental functions of concern to the Commonwealth. Therefore, the governing body of any locality may provide by ordinance that such locality may make grants or loans to owners of residential rental property occupied, or to be occupied, following rehabilitation or after construction if new, by persons of low and moderate income, for the purpose of rehabilitating or producing such property. Owners assisted in this manner must provide a minimum of 20 percent of the units for low and moderate income persons as defined by the locality for a minimum of 10 years. Participation by an owner under this section is voluntary.\n\t\tAny locality in the ordinance herein authorized may:\n\n1\n\nProvide for the installation, construction, or reconstruction of streets, utilities, parks, parking facilities, playgrounds, and other site improvements essential to the development, preservation or rehabilitation planned;2\n\nProvide encouragement or financial assistance to the owners or occupants for developing or preserving and upgrading apartment buildings and for improving health and safety, conserving energy, preventing erosion, enhancing the neighborhood, and reducing the displacement of low and moderate income residents of the property;3\n\nRequire that the owner agree to maintain a portion of the property in residential rental use for a period longer than ten years and that a portion of the dwelling units in the property be offered at rents affordable to persons or families of low and moderate income;4\n\nProvide that the value of assistance given by the locality under subdivisions 1 and 2 above be proportionate to the value of considerations rendered by the owner in maintaining a portion of the dwelling units at reduced rents for persons or families of low and moderate income; and5\n\nMake loans or grants of local funds to individuals for the purpose of rehabilitating owner-occupied residences or assisting in the purchase of an owner-occupied residence in designated conservation or rehabilitation districts. The locality shall publish annually a report listing the property purchased or rehabilitated pursuant to this provision and the amounts of any grants or loans made for such purpose. Such ordinance shall require that any such loans or grants be applied using the income guidelines issued by the Virginia Housing Development Authority for use in its single family mortgage loan program financed with bonds on which the interest is exempt from federal income taxation. The locality shall offer financial institutions as defined in &#xA7; 6.2-604 the opportunity to participate in local loan programs established pursuant to this subsection.","order_by":null,"text":{"0":{"id":230344,"text":"It is hereby declared that the preservation of existing housing in safe and sanitary condition and the production of new housing for persons of low and moderate income are public purposes and uses for which public money may be spent, and that such preservation and production are governmental functions of concern to the Commonwealth. Therefore, the governing body of any locality may provide by ordinance that such locality may make grants or loans to owners of residential rental property occupied, or to be occupied, following rehabilitation or after construction if new, by persons of low and moderate income, for the purpose of rehabilitating or producing such property. Owners assisted in this manner must provide a minimum of 20 percent of the units for low and moderate income persons as defined by the locality for a minimum of 10 years. Participation by an owner under this section is voluntary.\n\t\tAny locality in the ordinance herein authorized may:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":230345,"text":"Provide for the installation, construction, or reconstruction of streets, utilities, parks, parking facilities, playgrounds, and other site improvements essential to the development, preservation or rehabilitation planned;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":230346,"text":"Provide encouragement or financial assistance to the owners or occupants for developing or preserving and upgrading apartment buildings and for improving health and safety, conserving energy, preventing erosion, enhancing the neighborhood, and reducing the displacement of low and moderate income residents of the property;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":230347,"text":"Require that the owner agree to maintain a portion of the property in residential rental use for a period longer than ten years and that a portion of the dwelling units in the property be offered at rents affordable to persons or families of low and moderate income;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":230348,"text":"Provide that the value of assistance given by the locality under subdivisions 1 and 2 above be proportionate to the value of considerations rendered by the owner in maintaining a portion of the dwelling units at reduced rents for persons or families of low and moderate income; and","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":230349,"text":"Make loans or grants of local funds to individuals for the purpose of rehabilitating owner-occupied residences or assisting in the purchase of an owner-occupied residence in designated conservation or rehabilitation districts. The locality shall publish annually a report listing the property purchased or rehabilitated pursuant to this provision and the amounts of any grants or loans made for such purpose. Such ordinance shall require that any such loans or grants be applied using the income guidelines issued by the Virginia Housing Development Authority for use in its single family mortgage loan program financed with bonds on which the interest is exempt from federal income taxation. The locality shall offer financial institutions as defined in &#xA7; 6.2-604 the opportunity to participate in local loan programs established pursuant to this subsection.","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4"}},"ancestry":[{"id":13545,"edition_id":1,"name":"Additional Powers","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13058,"metadata":{},"date_created":"2026-06-26 03:45:10","date_modified":"2026-06-26 03:45:10","permalink":{"id":156673,"object_type":"structure","relational_id":13545,"identifier":"5","token":"15.2\/II\/9\/5","url":"\/15.2\/II\/9\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13058,"edition_id":1,"name":"General Powers of Local Governments","identifier":"9","label":"chapter","depth":3,"order_by":1,"parent_id":12733,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":156357,"object_type":"structure","relational_id":13058,"identifier":"9","token":"15.2\/II\/9","url":"\/15.2\/II\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12733,"edition_id":1,"name":"Powers of Local Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":152369,"object_type":"structure","relational_id":12733,"identifier":"II","token":"15.2\/II","url":"\/15.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59834,"structure_id":13545,"section_number":"15.2-950","catch_line":"Appropriations","url":"\/15.2-950\/","token":"15.2\/II\/9\/5\/15.2-950","metadata":false},{"id":82496,"structure_id":13545,"section_number":"15.2-951","catch_line":"Acquisition, disposition and use of personal property by localities generally","url":"\/15.2-951\/","token":"15.2\/II\/9\/5\/15.2-951","metadata":false},{"id":80950,"structure_id":13545,"section_number":"15.2-952","catch_line":"Political subdivisions may acquire property from United States","url":"\/15.2-952\/","token":"15.2\/II\/9\/5\/15.2-952","metadata":false},{"id":56590,"structure_id":13545,"section_number":"15.2-953","catch_line":"Donations to charitable institutions and associations, volunteer and nonprofit organizations, chambers of commerce, etc","url":"\/15.2-953\/","token":"15.2\/II\/9\/5\/15.2-953","metadata":false},{"id":72872,"structure_id":13545,"section_number":"15.2-954","catch_line":"Loans to volunteer firefighting and rescue organizations","url":"\/15.2-954\/","token":"15.2\/II\/9\/5\/15.2-954","metadata":false},{"id":69377,"structure_id":13545,"section_number":"15.2-954.1","catch_line":"Volunteer firefighter or volunteer emergency medical services personnel tuition reimbursement","url":"\/15.2-954.1\/","token":"15.2\/II\/9\/5\/15.2-954.1","metadata":false},{"id":69752,"structure_id":13545,"section_number":"15.2-955","catch_line":"Approval by local governing body for the establishment of volunteer emergency medical services agencies and firefighting organizations","url":"\/15.2-955\/","token":"15.2\/II\/9\/5\/15.2-955","metadata":false},{"id":65390,"structure_id":13545,"section_number":"15.2-956","catch_line":"Participation in certain federal development programs","url":"\/15.2-956\/","token":"15.2\/II\/9\/5\/15.2-956","metadata":false},{"id":87224,"structure_id":13545,"section_number":"15.2-957","catch_line":"Participation by localities in certain leasing programs","url":"\/15.2-957\/","token":"15.2\/II\/9\/5\/15.2-957","metadata":false},{"id":63172,"structure_id":13545,"section_number":"15.2-958","catch_line":"Local funding for repair or production of low and moderate income rental property or repair of residential property; other housing experiments","url":"\/15.2-958\/","token":"15.2\/II\/9\/5\/15.2-958","metadata":false},{"id":57528,"structure_id":13545,"section_number":"15.2-958.1","catch_line":"Sale of certain property in certain cities","url":"\/15.2-958.1\/","token":"15.2\/II\/9\/5\/15.2-958.1","metadata":false},{"id":83582,"structure_id":13545,"section_number":"15.2-958.1:1","catch_line":"Sale of certain vacant and blighted or derelict property","url":"\/15.2-958.1_1\/","token":"15.2\/II\/9\/5\/15.2-958.1_1","metadata":false},{"id":73990,"structure_id":13545,"section_number":"15.2-958.2","catch_line":"Grants for homeownership; workforce housing","url":"\/15.2-958.2\/","token":"15.2\/II\/9\/5\/15.2-958.2","metadata":false},{"id":55802,"structure_id":13545,"section_number":"15.2-958.2:01","catch_line":"Grants for certain corporations and pass-through entities","url":"\/15.2-958.2_01\/","token":"15.2\/II\/9\/5\/15.2-958.2_01","metadata":false},{"id":79079,"structure_id":13545,"section_number":"15.2-958.3","catch_line":"Commercial Property Assessed Clean Energy (C-PACE) financing programs","url":"\/15.2-958.3\/","token":"15.2\/II\/9\/5\/15.2-958.3","metadata":false},{"id":72340,"structure_id":13545,"section_number":"15.2-958.3:1","catch_line":"Local green banks","url":"\/15.2-958.3_1\/","token":"15.2\/II\/9\/5\/15.2-958.3_1","metadata":false},{"id":57737,"structure_id":13545,"section_number":"15.2-958.4","catch_line":"Waiver of certain fees for affordable housing","url":"\/15.2-958.4\/","token":"15.2\/II\/9\/5\/15.2-958.4","metadata":false},{"id":61887,"structure_id":13545,"section_number":"15.2-958.5","catch_line":"Local funding for community revitalization","url":"\/15.2-958.5\/","token":"15.2\/II\/9\/5\/15.2-958.5","metadata":false},{"id":70528,"structure_id":13545,"section_number":"15.2-958.6","catch_line":"Financing the repair of failed septic systems","url":"\/15.2-958.6\/","token":"15.2\/II\/9\/5\/15.2-958.6","metadata":false},{"id":68666,"structure_id":13545,"section_number":"15.2-958.7","catch_line":"Local Foundation and Soil Management Fund; grant moneys","url":"\/15.2-958.7\/","token":"15.2\/II\/9\/5\/15.2-958.7","metadata":false},{"id":78251,"structure_id":13545,"section_number":"15.2-959","catch_line":"Housing research","url":"\/15.2-959\/","token":"15.2\/II\/9\/5\/15.2-959","metadata":false},{"id":54832,"structure_id":13545,"section_number":"15.2-960","catch_line":"Planting of trees destroyed during construction","url":"\/15.2-960\/","token":"15.2\/II\/9\/5\/15.2-960","metadata":false},{"id":68912,"structure_id":13545,"section_number":"15.2-961","catch_line":"Replacement of trees during development process in certain localities","url":"\/15.2-961\/","token":"15.2\/II\/9\/5\/15.2-961","metadata":false},{"id":79501,"structure_id":13545,"section_number":"15.2-961.1","catch_line":"Conservation of trees during land development process in localities belonging to a nonattainment area for air quality standards","url":"\/15.2-961.1\/","token":"15.2\/II\/9\/5\/15.2-961.1","metadata":false},{"id":54509,"structure_id":13545,"section_number":"15.2-961.2","catch_line":"Conservation of trees; notice of infill lot grading plan","url":"\/15.2-961.2\/","token":"15.2\/II\/9\/5\/15.2-961.2","metadata":false},{"id":72159,"structure_id":13545,"section_number":"15.2-961.3","catch_line":"Replacement of trees during development process in localities","url":"\/15.2-961.3\/","token":"15.2\/II\/9\/5\/15.2-961.3","metadata":false},{"id":68089,"structure_id":13545,"section_number":"15.2-962","catch_line":"Authority to require a unified geographic information system for a locality","url":"\/15.2-962\/","token":"15.2\/II\/9\/5\/15.2-962","metadata":false},{"id":87100,"structure_id":13545,"section_number":"15.2-963","catch_line":"Local offices of consumer affairs; establishment; powers and duties","url":"\/15.2-963\/","token":"15.2\/II\/9\/5\/15.2-963","metadata":false},{"id":73282,"structure_id":13545,"section_number":"15.2-964","catch_line":"Organization of local human services activities; authorization of reorganization by Governor","url":"\/15.2-964\/","token":"15.2\/II\/9\/5\/15.2-964","metadata":false},{"id":71567,"structure_id":13545,"section_number":"15.2-965","catch_line":"Human rights ordinances and commissions","url":"\/15.2-965\/","token":"15.2\/II\/9\/5\/15.2-965","metadata":false},{"id":71511,"structure_id":13545,"section_number":"15.2-965.1","catch_line":"Participation of small, women-owned, and minority-owned businesses","url":"\/15.2-965.1\/","token":"15.2\/II\/9\/5\/15.2-965.1","metadata":false},{"id":58003,"structure_id":13545,"section_number":"15.2-965.2","catch_line":"Enhancement of micro-business participation in local procurement","url":"\/15.2-965.2\/","token":"15.2\/II\/9\/5\/15.2-965.2","metadata":false},{"id":74384,"structure_id":13545,"section_number":"15.2-966","catch_line":"Establishment and operation of educational television stations","url":"\/15.2-966\/","token":"15.2\/II\/9\/5\/15.2-966","metadata":false},{"id":70768,"structure_id":13545,"section_number":"15.2-966.1","catch_line":"Establishment of primary health care facility for employees of locality","url":"\/15.2-966.1\/","token":"15.2\/II\/9\/5\/15.2-966.1","metadata":false},{"id":66216,"structure_id":13545,"section_number":"15.2-967","catch_line":"Parking facilities","url":"\/15.2-967\/","token":"15.2\/II\/9\/5\/15.2-967","metadata":false},{"id":70652,"structure_id":13545,"section_number":"15.2-967.1","catch_line":"Regulation of certain transportation services","url":"\/15.2-967.1\/","token":"15.2\/II\/9\/5\/15.2-967.1","metadata":false},{"id":61876,"structure_id":13545,"section_number":"15.2-967.2","catch_line":"Electric vehicle charging stations","url":"\/15.2-967.2\/","token":"15.2\/II\/9\/5\/15.2-967.2","metadata":false},{"id":57039,"structure_id":13545,"section_number":"15.2-968","catch_line":"Regulation of parking of vehicles within boundaries of state-supported institutions","url":"\/15.2-968\/","token":"15.2\/II\/9\/5\/15.2-968","metadata":false},{"id":77767,"structure_id":13545,"section_number":"15.2-968.01","catch_line":"Parking in certain residential areas","url":"\/15.2-968.01\/","token":"15.2\/II\/9\/5\/15.2-968.01","metadata":false},{"id":66068,"structure_id":13545,"section_number":"15.2-968.1","catch_line":"(For contingent effective date, see Acts 2023, c. 738, cl. 2) Use of violation monitoring systems to enforce traffic light signals and certain traffic control devices","url":"\/15.2-968.1\/","token":"15.2\/II\/9\/5\/15.2-968.1","metadata":false},{"id":83573,"structure_id":13545,"section_number":"15.2-969","catch_line":"Ordinances prohibiting resale of tickets to certain public events; 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use and exhibitions","url":"\/15.2-974\/","token":"15.2\/II\/9\/5\/15.2-974","metadata":false},{"id":70734,"structure_id":13545,"section_number":"15.2-975","catch_line":"Use of cash proffers","url":"\/15.2-975\/","token":"15.2\/II\/9\/5\/15.2-975","metadata":false},{"id":83990,"structure_id":13545,"section_number":"15.2-976","catch_line":"Notification of changes to the Federal Emergency Management Agency Special Flood Hazard Area map","url":"\/15.2-976\/","token":"15.2\/II\/9\/5\/15.2-976","metadata":false},{"id":82759,"structure_id":13545,"section_number":"15.2-977","catch_line":"Green Roof Incentive Programs","url":"\/15.2-977\/","token":"15.2\/II\/9\/5\/15.2-977","metadata":false},{"id":75983,"structure_id":13545,"section_number":"15.2-977.1","catch_line":"Local incentives for urban green space","url":"\/15.2-977.1\/","token":"15.2\/II\/9\/5\/15.2-977.1","metadata":false},{"id":74337,"structure_id":13545,"section_number":"15.2-978","catch_line":"Registration by locality of cemeteries, graveyards, or other places of burial on private property","url":"\/15.2-978\/","token":"15.2\/II\/9\/5\/15.2-978","metadata":false},{"id":84096,"structure_id":13545,"section_number":"15.2-979","catch_line":"Notice of sale under deed of trust","url":"\/15.2-979\/","token":"15.2\/II\/9\/5\/15.2-979","metadata":false},{"id":77157,"structure_id":13545,"section_number":"15.2-980","catch_line":" Civil penalties for violations of noise ordinances","url":"\/15.2-980\/","token":"15.2\/II\/9\/5\/15.2-980","metadata":false},{"id":71445,"structure_id":13545,"section_number":"15.2-981","catch_line":"Authority to sell dogs trained for police work","url":"\/15.2-981\/","token":"15.2\/II\/9\/5\/15.2-981","metadata":false},{"id":72155,"structure_id":13545,"section_number":"15.2-982","catch_line":"Designation of tourism activity zones","url":"\/15.2-982\/","token":"15.2\/II\/9\/5\/15.2-982","metadata":false},{"id":81829,"structure_id":13545,"section_number":"15.2-983","catch_line":"Creation of registry for short-term rental of property","url":"\/15.2-983\/","token":"15.2\/II\/9\/5\/15.2-983","metadata":false},{"id":79056,"structure_id":13545,"section_number":"15.2-983.1","catch_line":"Establishment by localities of certain real estate contract disclosures prohibited","url":"\/15.2-983.1\/","token":"15.2\/II\/9\/5\/15.2-983.1","metadata":false},{"id":62607,"structure_id":13545,"section_number":"15.2-984","catch_line":"Adoption of flood plain ordinances","url":"\/15.2-984\/","token":"15.2\/II\/9\/5\/15.2-984","metadata":false},{"id":71419,"structure_id":13545,"section_number":"15.2-985","catch_line":"Disposition of abandoned shopping carts; unauthorized possession; penalties","url":"\/15.2-985\/","token":"15.2\/II\/9\/5\/15.2-985","metadata":false},{"id":64568,"structure_id":13545,"section_number":"15.2-986","catch_line":"Broadband services; education","url":"\/15.2-986\/","token":"15.2\/II\/9\/5\/15.2-986","metadata":false},{"id":64189,"structure_id":13545,"section_number":"15.2-987","catch_line":"Rentals for 30 consecutive days or longer","url":"\/15.2-987\/","token":"15.2\/II\/9\/5\/15.2-987","metadata":false}],"previous_section":{"id":87224,"structure_id":13545,"section_number":"15.2-957","catch_line":"Participation by localities in certain leasing programs","url":"\/15.2-957\/","token":"15.2\/II\/9\/5\/15.2-957","metadata":false},"next_section":{"id":57528,"structure_id":13545,"section_number":"15.2-958.1","catch_line":"Sale of certain property in certain cities","url":"\/15.2-958.1\/","token":"15.2\/II\/9\/5\/15.2-958.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-958\/","history_text":"<p>This law was first created in 1988. The record of its establishment is cataloged in chapter 862 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1988 \u201cActs\u201d aren\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1993, chapter 791; in 1995, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?951+ful+CHAP0393\">393<\/a>; in 1997, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?971+ful+CHAP0587\">587<\/a>; in 2008, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?081+ful+CHAP0580\">580<\/a>.<\/p>","references":[{"id":80022,"section_number":"62.1-199","catch_line":"Definitions","order_by":null,"url":"\/62.1-199\/"}],"refers_to":[{"id":83499,"section_number":"6.2-604","catch_line":"Definitions","order_by":null,"url":"\/6.2-604\/"}],"permalink":{"id":156711,"object_type":"law","relational_id":63172,"identifier":"15.2-958","token":"15.2\/II\/9\/5\/15.2-958","url":"\/15.2-958\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-958\/","token":"15.2\/II\/9\/5\/15.2-958","dublin_core":{"Title":"Local funding for repair or production of low and moderate income rental property or repair of residential property; other housing experiments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-958","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>It is hereby declared that the preservation of existing housing in safe and sanitary condition and the production of new housing for persons of low and moderate income are public purposes and uses for which public money may be spent, and that such preservation and production are governmental functions of concern to the Commonwealth. Therefore, the <span class=\"dictionary\">governing body<\/span> of any <span class=\"dictionary\">locality<\/span> may provide by <span class=\"dictionary\">ordinance<\/span> that such <span class=\"dictionary\">locality<\/span> may make grants or loans to owners of residential rental property occupied, or to be occupied, following rehabilitation or after construction if new, by persons of low and moderate income, for the purpose of rehabilitating or producing such property. Owners assisted in this manner must provide a minimum of 20 percent of the units for low and moderate income persons as defined by the <span class=\"dictionary\">locality<\/span> for a minimum of 10 years. Participation by an owner under this section is voluntary.\n\t\tAny <span class=\"dictionary\">locality<\/span> in the <span class=\"dictionary\">ordinance<\/span> herein authorized may:<\/p><\/section>\n\t\t\t\t\t\t<section id=\"1\"><p><span class=\"prefix-number\">1.<\/span> Provide for the installation, construction, or reconstruction of streets, utilities, parks, parking facilities, playgrounds, and other site improvements essential to the development, preservation or rehabilitation planned; <a id=\"paragraph-230345\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-958\/#1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"2\"><p><span class=\"prefix-number\">2.<\/span> Provide encouragement or financial assistance to the owners or occupants for developing or preserving and upgrading apartment buildings and for improving health and safety, conserving energy, preventing erosion, enhancing the neighborhood, and reducing the displacement of low and moderate income residents of the property; <a id=\"paragraph-230346\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-958\/#2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"3\"><p><span class=\"prefix-number\">3.<\/span> Require that the owner agree to maintain a portion of the property in residential rental use for a period longer than ten years and that a portion of the dwelling units in the property be offered at rents affordable to persons or families of low and moderate income; <a id=\"paragraph-230347\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-958\/#3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"4\"><p><span class=\"prefix-number\">4.<\/span> Provide that the value of assistance given by the <span class=\"dictionary\">locality<\/span> under subdivisions 1 and 2 above be proportionate to the value of considerations rendered by the owner in maintaining a portion of the dwelling units at reduced rents for persons or families of low and moderate income; and <a id=\"paragraph-230348\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-958\/#4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"5\"><p><span class=\"prefix-number\">5.<\/span> Make loans or grants of local funds to individuals for the purpose of rehabilitating owner-occupied residences or assisting in the purchase of an owner-occupied residence in designated conservation or rehabilitation districts. The <span class=\"dictionary\">locality<\/span> shall publish annually a report listing the property purchased or rehabilitated pursuant to this provision and the amounts of any grants or loans made for such purpose. Such <span class=\"dictionary\">ordinance<\/span> shall require that any such loans or grants be applied using the income guidelines issued by the Virginia Housing Development Authority for use in its single family mortgage loan program financed with <span class=\"dictionary\">bonds<\/span> on which the interest is exempt from federal income taxation. The <span class=\"dictionary\">locality<\/span> shall offer financial institutions as defined in &#xA7; <a class=\"law\" title=\"Definitions\" href=\"\/6.2-604\/\">6.2-604<\/a> the opportunity to participate in local loan programs established pursuant to this subsection. <a id=\"paragraph-230349\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-958\/#5\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nLOCAL FUNDING FOR REPAIR OR PRODUCTION OF LOW AND MODERATE INCOME RENTAL\nPROPERTY OR REPAIR OF RESIDENTIAL PROPERTY; OTHER HOUSING EXPERIMENTS (\u00a7\n15.2-958)\n\nIt is hereby declared that the preservation of existing housing in safe and\nsanitary condition and the production of new housing for persons of low and\nmoderate income are public purposes and uses for which public money may be\nspent, and that such preservation and production are governmental functions of\nconcern to the Commonwealth. Therefore, the governing body of any locality may\nprovide by ordinance that such locality may make grants or loans to owners of\nresidential rental property occupied, or to be occupied, following\nrehabilitation or after construction if new, by persons of low and moderate\nincome, for the purpose of rehabilitating or producing such property. Owners\nassisted in this manner must provide a minimum of 20 percent of the units for\nlow and moderate income persons as defined by the locality for a minimum of 10\nyears. Participation by an owner under this section is voluntary.\n\t\tAny locality in the ordinance herein authorized may:\n\n1. Provide for the installation, construction, or reconstruction of streets,\nutilities, parks, parking facilities, playgrounds, and other site improvements\nessential to the development, preservation or rehabilitation planned;\n\n2. Provide encouragement or financial assistance to the owners or occupants for\ndeveloping or preserving and upgrading apartment buildings and for improving\nhealth and safety, conserving energy, preventing erosion, enhancing the\nneighborhood, and reducing the displacement of low and moderate income residents\nof the property;\n\n3. Require that the owner agree to maintain a portion of the property in\nresidential rental use for a period longer than ten years and that a portion of\nthe dwelling units in the property be offered at rents affordable to persons or\nfamilies of low and moderate income;\n\n4. Provide that the value of assistance given by the locality under subdivisions\n1 and 2 above be proportionate to the value of considerations rendered by the\nowner in maintaining a portion of the dwelling units at reduced rents for\npersons or families of low and moderate income; and\n\n5. Make loans or grants of local funds to individuals for the purpose of\nrehabilitating owner-occupied residences or assisting in the purchase of an\nowner-occupied residence in designated conservation or rehabilitation districts.\nThe locality shall publish annually a report listing the property purchased or\nrehabilitated pursuant to this provision and the amounts of any grants or loans\nmade for such purpose. Such ordinance shall require that any such loans or\ngrants be applied using the income guidelines issued by the Virginia Housing\nDevelopment Authority for use in its single family mortgage loan program\nfinanced with bonds on which the interest is exempt from federal income\ntaxation. The locality shall offer financial institutions as defined in &#xA7;\n6.2-604 the opportunity to participate in local loan programs established\npursuant to this subsection.\n\nHISTORY: 1988, c. 862, \u00a7 15.1-37.3:9; 1993, c. 791; 1995, c. 393; 1997, c. 587;\n2008, c. 580.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}