HB 4

Abstract

Preservation of affordable housing; definitions; civil penalty. Creates a framework for localities to preserve affordable housing by exercising a right of first refusal on publicly supported housing, defined in the bill. The bill authorizes localities to adopt an ordinance that requires an owner to accept a right of first refusal offer by the locality or qualified designee, defined in the bill, in order to preserve affordable housing for at least 15 years. The bill requires that any locality with a population greater than 3,500 adopting such an ordinance to preserve affordable housing submit an annual report to the Department of Housing and Community Development pursuant to existing law.

A BILL to amend the Code of Virginia by adding in Title 36 a chapter numbered 13, consisting of sections numbered 36-176 through 36-180, relating to preservation of affordable housing; definitions; civil penalty.