Attainable Workforce Housing Performance Grant

Attainable Workforce Housing Performance Grant

The Attainable Workforce Housing Performance Grant Program is a collaborative partnership between the City of Virginia Beach and the City of Virginia Beach Development Authority (VBDA). The performance grant program provides an incentive for the development of safe, affordable multifamily rental housing on a continuous basis throughout the year.

It is designed to induce the private development of new, affordable multifamily units by providing annual grants to offset a development’s incremental real estate tax burden for an initial 15-year period, with the potential for an additional 15 years of benefit.

Evaluation Process

VBDA and the City of Virginia Beach Department of Housing and Neighborhood Preservation will accept, review and evaluate performance grant applications. Based on the evaluation, staff will provide recommendations to the VBDA board members and the Virginia Beach City Council for consideration and formal approval through their respective legislative processes.

Application Package

Please read and carefully review all information in the application package and attachments before completing attachments 2 and 3 of the application:

• Attachment 1: Application Overview, Guidelines and Attainable Housing Grant Policy
• Attachment 2: Application Form
• Attachment 3: Calculation Form (It must be submitted in a Microsoft Excel format. Email SShoff@VBgov.com for a copy of the Excel spreadsheet.)
• Attachment 4: Sample Grant Agreement (Email SShoff@VBgov.com for a copy of the Sample Grant Agreement)

How to Apply

Full and complete applications (including attachments 2 and 3, map and proformas) must be delivered to VBDA:

• In person or by mail to:

Virginia Beach Development Authority
Attention: Sharon Shoff
4525 Main Street, Suite 700
Virginia Beach, VA 23462

• Or, by email to Sharon Shoff at SShoff@vbgov.com.

Incomplete applications will not be evaluated or considered for decisions until all required information has been provided.