HAC Subcommittee Recommends New Functions for Landlord Fund
CHARLOTTESVILLE, Va. (WVIR) - A new fund could soon be available to help with the affordable housing crisis in Charlottesville, but the proposed Landlord Risk Reduction Fund would only help with repairs. The fund would not provide any assistance with first month's rent or a security deposit.
After a meeting on Wednesday afternoon, a Housing Advisory Committee subcommittee will recommend adding those as one of the functions of the fund. Next week, the full committee will makes its recommendation to council, which already approved tens of thousands of dollars for the fund.
"Increase the amount of money that is backstopped by this fund over and above what a landlord is allowed to take to create an incentive for the landlord to rent affordably," said Dan Rosenweig of the HAC Subcommittee on Policy. "We also talked about tenant education as part of this."
This plan would give tenants some skin in the game in addition to incentives for landlords. The full Housing Advisory Committee will decide whether to recommend the charges to council at its meeting next week.