Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing topic
No spam. Unsubscribe anytime.
Council rejects Trustland Inc. request to designate project for VHDA refinancing
Summary
Stephens City Council voted down a Planning Commission–recommended resolution that would have allowed Trustland Inc. to use VHDA refinancing requiring 20% of units be low-income or workforce housing; the motion failed on a 3–2 recorded vote with one member absent.
Town Manager Mike Majher told the Stephens City Town Council on Oct. 1 that Trustland Inc. requested council approval of a resolution containing language required by the Virginia Housing Development Authority (VHDA) to qualify a local development for a VHDA refinancing program. The proposed provision would have set 20% of the development aside as low-income or workforce housing and left the remaining 80% unrestricted.
The Planning Commission had reviewed the request and recommended the resolution to council. Councilman Joseph Hollis moved to approve the recommended resolution. After a roll call vote, the motion failed: Joseph Hollis and Councilwoman Regina Swygert-Smith voted in favor; Vice Mayor Nauman, Councilman Linden A. Fravel Jr., and Councilman Happek voted no. Councilman Ronald Bowers was absent for the vote.
The vote leaves the Trustland Inc. request without the council action requested to enable the VHDA refinancing language. Council members did not record additional instructions to staff on revising or reintroducing the resolution during the meeting.
Next steps: the council did not adopt the resolution at this meeting. If Trustland Inc. wishes to pursue the VHDA refinancing route again, it would need to return with further information or a revised proposal for council consideration.
