Virginia Governor Ralph Northam last week signed HB 2229, legislation aimed at reducing impediments to the financing, development and construction of affordable housing units. The bill will be become effective July 1, 2019.
HB 2229 will expand the authority for local governments to waive building permit fees and other local fees of private sector entities involved in the construction of affordable housing.
"With demand for affordable housing far outpacing available supply, we need to do everything we can to bring the private-sector and non-profits to the table on these deals," said Craig Toalson, chief executive officer of the Home Builders Association of Virginia
. "We hope to see local governments around the Commonwealth partner with the housing industry to implement this important legislation."