Friday, Oct. 31, 2008

Board of Supervisors Housing Committee Meeting Addresses Critical Issues
Foreclosure Program, Workforce Housing, Penny Fund Discussed

On Monday, October 27, 2008, the Housing Committee of the Fairfax County Board of Supervisors, chaired by Hunter Mill District Supervisor Cathy Hudgins, met to discuss a broad range of issues concerning the County’s current and future housing market and affordable housing needs. 

• Current Housing Market:  The Housing Committee received a briefing from Professor John McClain, of the George Mason University Center for Regional Analysis, of the current housing market in Fairfax County.  A copy of Professor McClain’s presentation can be found here.
  
  
• Fairfax County’s Response to the Foreclosure Crisis and the Federal Neighborhood Stabilization Program:  Staff provided a briefing for the Committee detailing the status of the foreclosure crisis in Fairfax County, the status of the County’s response to the crisis, and a proposal for the use of new federal Neighborhood Stabilization Program (NSP) funds.  Following a discussion, the Housing Committee by consensus agreed that the staff proposal for the use of the federal NSP funds should be considered by the full Board of Supervisors; it is anticipated that staff will present its proposal at the Board’s November 17, 2008 meeting.  A full copy of the presentation on foreclosures can be found here; a copy of the staff report can be found here.
  
  
• Workforce Housing:  Staff presented a report on the projected need for workforce housing, the current steps Fairfax County is taking to meet that need, and potential additional steps to further involve employers/the private sector in providing affordable workforce housing.  A full copy of the presentation on workforce housing can be found here; a copy of the staff report can be found here. 
  
  
• Fiscal Year 2008 Penny Fund Report:  Kerrie Wilson, Executive Director of Reston Interfaith, presented the report of the Fairfax County Affordable Housing Advisory Committee on the performance of the Penny for Affordable Housing Fund in FY 2008.  The report found that the Penny Fund met or exceeded all of the Board of Supervisors’ expectations FY 2008.  A full copy of the presentation on the Penny Fund can be found here; a copy of the full Advisory Committee report can be found here.