EDA hears Mount Rogers ARS presentation; approves Ag Relief payout at 23% of tax value for applicants
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Summary
Mount Rogers Planning District Commission presented the ARS (Acquire, Rehab, Sell) program to the Grayson County EDA; after a review of applications the EDA voted to allocate 23% of applicants' open-land tax value (about $100,000 of a $200,000 fund) to aid producers affected by storm damage, with taxes paid first for delinquent accounts.
Mount Rogers Planning District Commission staff gave a detailed presentation on the Acquire, Rehab and Sell (ARS) program and how it can be used by the EDA to acquire undervalued properties, renovate or construct housing and market units to first-time homebuyers at or below 80% area median income.
The presenter said the DHCD-funded program allows the CDA (community development authority) to purchase properties, use program funds (up to approximately $60,000 per unit in the local program design) with $53,500 typically available for renovation or construction costs, and require counseling and down-payment assistance to eligible buyers. The presenter described other sources that can be layered with ARS, including Virginia Housing down-payment assistance and a Mount Rogers “spark loan” that can buy down mortgage interest rates by one percentage point for eligible buyers.
EDA members discussed how to identify candidate properties (tax-delinquent parcels, donated properties, or units below market value) and whether the planning district would actively search for properties or the EDA should nominate properties. The presenter said the planning district lacks capacity to proactively find properties for each locality and recommended the EDA identify a short list and the planning district would support due diligence, construction documents and contractor coordination.
On agriculture relief, an EDA subcommittee report summarized the application process for the Ag Relief Fund. The deadline produced 79 applicants whose combined open-land real estate taxes totaled $436,479.68. Using the committee's recommendation, the authority voted to return 23% of each applicant's open-land tax value (to be paid from the EDA's Ag Relief Fund). The EDA recorded that 23% would encumber roughly $100,000 of the previously set-aside $200,000 and that the remaining funds would be held for follow-up assistance to producers with damages not covered by other programs. The motion specified that if an applicant is delinquent on taxes, funds first be applied to pay the tax liability; any excess would be distributed to the applicant.
The subcommittee had proposed a range between 20% and 25%; the EDA adopted 23% for this round to get funds quickly into producers' hands while reserving the remaining fund balance for targeted use on damages that other agencies (USDA, NRCS, insurance, FEMA) cannot cover. Members also asked staff to determine additional county funds or donations that could increase the pool and to report back at the next meeting.
