Jun 23 2022
WASHINGTON – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) announced the designation of $9,000,000 in federal funding to three Virginia-based organizations helping to provide affordable housing and services to low-income individuals. The funds were administered by the United States Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund through the department’s Capital Magnet Fund.
“Affordable, safe housing should be available to every Virginian,” the senators said. “This funding will allow Virginia organizations to continue their crucial work of securing housing for those in need.”
The funds will be broken down as follows:
- $5,000,000 for the Arlington Partnership for Affordable Housing, Inc. in Arlington, VA.
- $2,000,000 for AHC Inc. in Arlington, VA.
- $2,000,000 for the Piedmont Housing Alliance in Charlottesville, VA.
This funding comes in addition to the nearly $115 million in funding for affordable housing in Virginia announced earlier this year. Sens. Warner and Kaine, a former fair housing attorney, have long supported efforts to increase affordable housing in Virginia. The Senators have introduced legislation that would address rising home prices, assist first-generation homebuyers, and close the widening wealth and homeownership gaps. Also today, Kaine led the introduction of the Fair Housing Improvement Act of 2022, which would expand protections under the Fair Housing Act of 1968 to include banning discrimination based on source of income, giving more individuals and families access to affordable housing and a shot at economic mobility.
Sen. Warner has also been a leader in Congress for CDFI investment. To combat the hemorrhaging of jobs and economic opportunities during the pandemic, Sen. Warner led a bipartisan group of colleagues in introducing the Jobs and Neighborhood Investment Act. Sen. Warner was later able to secure provisions from the bill in the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, which was signed into law on December 27, 2020, providing an unprecedented $12 billion in funding for CDFIs. Last week, Sen. Warner introduced legislation to help unlock more equity and long-term financial capital for CDFIs to boost economic growth in low-income communities.