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Board backs revitalization certificate for Stevens Woods Apartments in Cortland
Summary
The Southampton County Board of Supervisors unanimously adopted a resolution designating the Stevens Woods III apartment site as a revitalization area, a formal step TM Associates said is needed for a competitive Virginia Housing rehabilitation loan and tax-credit application.
The Southampton County Board of Supervisors unanimously approved a resolution on Feb. 25 designating Stevens Woods Apartments III in Cortland as a revitalization area, a step the project's developer said is required to strengthen its application for state housing rehabilitation financing.
TM Associates development associate Clark Henry described plans to renovate 36 apartment units at 2590 Oak Trail Road and asked the board to confirm that the property qualifies as a revitalization area so Virginia Housing can consider the project for financing. “We’re just asking you, as the board of supervisors, to say, yes, this property located, on Oak Trail Drive, the street is a revitalization area,” Henry said.
The resolution presented to the board said the apartments, built in 1988, have not been comprehensively renovated and that without rehabilitation the buildings are likely to deteriorate. It also said private investment is unlikely without assistance and that the owner does not seek local tax dollars for the work.
County staff said the revitalization designation is narrowly targeted to enable Virginia Housing Development Authority financing. The resolution authorizes the county administrator or deputy county administrator to sign an attached locality revitalization letter and take related actions consistent with the resolution.
The board voted by voice roll call with all members saying “yes.” The motion to adopt was moved and seconded; the vote was recorded as unanimous.
The developer and county staff indicated no county funds are requested; the action is intended to improve competitiveness for state financing and tax credits during the developer’s pending application process.
The board’s action was limited to the resolution; any building permits or construction approvals will follow the county’s normal permitting process if the project proceeds.
The board did not set a construction schedule during the meeting; TM Associates said architects are expected to begin design work and they hope to start construction after obtaining state approvals.
Votes at a glance: The board adopted the “Resolution in Support of the Renovation of Stevens Woods Apartments III” by unanimous voice vote.
