Operating Budget 2025-2026

HOUSING AND COMMUNITY CONNECTIONS OFFICE (continued) HOUSING DIVISION

FY 2025-2026 OBJECTIVES Community Connections: • Continue support of the Town’s communications goals through work on demystifying the Town’s development process and implementation of cohesive branding efforts. • Support community engagement activities to advance the work of other Town departments. • Further implementation of the Town’s Retail Action plan with key community partners. • Continue to support the successful implementation of ARPA sub-recipient community projects. Affordable Housing • Continue work on developing affordable housing through the New River Home Trust. • Pursue development opportunities for affordable housing initiatives while being environmentally conscious with a focus on successfully aging in place. CDBG • Support public service agencies that provide essential services to Blacksburg residents. • Continue the Home Repair Program and assist five LMI households. • Create New River Home Trust affordable housing units in the community.

HOME • Ensure completion of the (7) affordable rental units in Radford.

• Ensure construction of eleven (11) income restricted HOME units begins in Blacksburg. • Continue to foster affordable housing development opportunities in the New River Valley HOME Consortium service area. The priorities this year include the development of regional supportive housing program and advancing predevelopment work in Giles and Pulaski.

2023/2024 Actual

2024/2025 Projected $547,113 $541,225

2025/2026 Projected

HOUSING AND COMMUNITY CONNECTIONS OFFICE

2022/2023 Actual $651,299 $534,673

2024/2025 Adopted $600,000 $500,000

HOME Allocation CDBG Allocation

$634,440 $554,576

$550,000 $550,000

External Funding (All Non-Town CDBG & HOME) Leveraging ratio (External/Allocation) Regional Affordable Units Completed - Rental Homes Regional Affordable Units Completed - Owner-occupied Blacksburg Affordable Units – Under Agreement and in Progress* Other Regional Affordable Units – Under Agreement and in Progress* Town Residents Provided with Essential Services - CDBG Town Residents Provided with Food Assistance - ARPA

$2,605,000 $16,400,000

$2,714,004

$3,674,657

$2,500,000

2.3

3

2.3

2.4

4.6

12

0

6

7

50

8

13

5

1

31

**

55

111

87

56

**

64

50

50

94

82

133

80

52

50

786

544

750

969

900

* Total affordable units include the total number of affordable units being rehabilitated or constructed as part of a project receiving a local investment of New River Valley HOME, Town of Blacksburg CDBG, and/or ARPA funds. ** Data not previously tracked or included. 116