1. REACHing Out: Resources Enabling Affordable Community Housing Virginia Housing Development Authority

2. REACH Funding Intiative
Funding is structured through VHDA’s net revenues
Provides a substantial increase in subsidized financing for an array of housing opportunities in Virginia.
REACH has provided approximately $170 million in VHDA resources

3. REACH & Homeownership Habitat Line of Credit
3% Down Payment Assistance Grant
Direct Originations Down Payment & Closing Cost Assistance
Community Homeownership Revitalization Program

4. REACH & Rental
Sponsoring Partnerships and Revitalizing Communities (SPARC)
SPARC Flex
Mixed Use Mixed Income (MUMI)

5. REACH & Community Outreach
Capacity Building grant
Capacity Building grant pools
Housing Education & Counseling
Community Impact Pilot

6. REACH Special Initiatives Pool
Rental Assistance Demonstration (RAD)
DOJ Settlement Agreement

7. REACH Impact Responds to immediate and ongoing housing needs
24,000 rental units and 5,000 homeownership units were financed using some investment from REACH
Helped solidify VHDA’s partnerships with non-profits, redevelopment and housing authorities, local governments and developers

8. Virginia Small Towns & Cities Dutch Inn Lexington
Origins 1800s
3 commercial spaces
13 apartments total
9 market rate
4 @ < 80% AMI
$1.2 million VHDA Loan
$329,392 owner equity & Historic Tax Credits

9. Virginia Residential & Cultural Arts The Hipp Place Richmond, VA
Historic adaptive re-use.
Multi-purpose entertainment venue with offices, staging, a catering kitchen and restaurant.
Three-story building containing 32 apartments.
Provide affordable housing for students and the urban workforce.

10. Historic Downtown Adaptive Reuse Patrick Henry Hotel Roanoke, VA
132 one- and two-bedroom units
400 to 1,000 s.f.
Lower level commercial spaces
VHDA providing permanent financing under Mixed-Use/Mixed Income Program