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Council discusses affordable housing financing, CAF process and CRHA projects

November 26, 2025 | Charlottesville, Albemarle County, Virginia


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Council discusses affordable housing financing, CAF process and CRHA projects
Affordable housing funding and the mechanics of allocating large CIP sums were a sustained focus of the session.

Staff said final financing adjustments were made for the Carlton Mobile Home Park and clarified the $4 million shown in the out years reflects the financing balloon on a PHA loan rather than a city‑bondable obligation. "It's a balloon... it's PHA's loan," Speaker 1 said when asked whether the $4,000,000 would be bonded.

Council members pressed for greater transparency and systematic allocation processes for the CAF/affordable housing fund. Staff described the RFI/Request for Investment process and said summary proposals will be brought to council during an upcoming budget brief. Speaker 2 urged requiring pro formas for projects that receive city commitments.

CRHA projects including Friendship Court phase 4 remain under discussion; staff said some CRHA requests will move through the RFI process while other council commitments continue to be honored. The session included conversation about revolving loan structures, potential land acquisition for long‑term leasing models and staffing capacity needed to administer increased affordable housing activity.

No formal funding decisions were adopted at the session; staff will present RFI summaries and related materials in an upcoming public budget brief.

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Scribe from Workplace AI
Scribe from Workplace AI