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To support an economically mixed project to be located on the property known as 711 Dawn Street pursuant to Va. Code ? 36-55.30:2. (3rd District)
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WHEREAS, pursuant to section 36-55.30:2 of the Virginia Housing Development Authority Act (the "Act"), as set forth in sections 36-55.24 through 36-55.52 of the Code of Virginia (1950), as amended, the Virginia Housing Development Authority may finance an economically mixed project that is not located within a revitalization area if the governing bodies of localities determine by resolution that (i) either (a) that the ability to provide residential housing and supporting facilities that serve persons or families of lower or moderate income will be enhanced if a portion of the units therein are occupied or held available for occupancy by persons and families who are not of low and moderate income or (b) that the surrounding area of such project is, or is expected in the future to be, inhabited predominantly by lower income persons and families and will benefit from an economic mix of residents in such project and (ii) private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families in such area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area; and
WHEREAS, the Council has determined that, with respect to the economically mixed project to be located on property known as 711 Dawn Street, identified as Tax Parcel No. N000-0442/005 in the 2022 records of the City Assessor and as shown on the survey entitled "Dawn Street Apartments, 711 Dawn Street, Richmond, Virginia, Existing Conditions, Topographic Survey," prepared by VHB, and dated November 17, 2020, a copy of which is attached to this resolution, (i) the abil...
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