Warner visits Henrico, views county's affordable housing trust as replicable elsewhere
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U.S. Senator Mark Warner was in Henrico County earlier this month to discuss with county and housing leaders Henrico's new affordable housing trust fund – a program that could be replicated throughout the state and nation.
Henrico County officials recently announced the establishment of the $60-million trust using data center tax revenue to encourage the construction of more affordable homes in the county. The county has partnered with the nonprofit Partnership for Housing Affordability, which will administer the fund, providing money to nonprofit and for-profit builders whose developments meet as-yet undetermined criteria resulting in the construction of affordable homes.
As part of the program, the county will waive permit and utility connection fees and expedite the review process for developments that include affordable housing units.
"I thought I was going to hear a data-center pitch. I hear a holistic pitch that is so much more forward-leaning," Warner said at the end of the meeting at Fairfield Area Library. "... Please, count me in on any way we can help."
Warner is co-sponsoring legislation to help homebuyers build equity and generational wealth more quickly. He said Henrico's approach to using data center tax revenue could be a game-changer in Virginia.
"We have more data centers in Virginia than, frankly, the whole rest of the country combined," he said.
Warner recently touted Henrico's approach during an affordable housing summit held at Amazon's HQ2 in Pentagon City. The company has pledged $3.6 billion in loans and grants to create and preserve affordable housing for qualifying individuals and families in Arlington and other communities in which it operates.
