Henrico establishes $60M trust fund to address affordable housing 'crisis'

In a unique effort to spur the immediate construction of more affordable housing options, Henrico County is establishing a -million housing trust fund using unbudgeted revenue from data centers in the county. County officials made the announcement Thursday morning during a press conference at the county’s western government center. The trust fund will provide grants to for-profit and nonprofit housing developers who agree to build affordable units to program specifications. As part of the initiative, homeowners will purchase only a dwelling, not the land on which it sits, thereby reducing their mortgage costs. The trust will own the land in...

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