Snapshot

The General Assembly will convene on January 10 and YOUR help will be needed to defeat a bill that will make "Source of Income" a protected class.  This bill, if it passes, will mean that EVERY rental property will have to accept Section 8 Housing Choice Vouchers.

VAMA research indicates that increased administrative burdens along with lost time due to the slow rental process of a Housing Choice Voucher amount to an equivalent of 1.3 months of lost rent annually.

VAMA will be sending email alerts regularly asking for YOU to TAKE ACTION!  Please be on the lookout for these emails and make sure you AND Every Staff Member with a unique email address ACTS!

Protect your NOI!  Together we can Defeat this piece of legislation!  The link below has further details on VAMA Action Alerts.

50 years later - some events still have repercussions - an interesting editorial from The Roanoke Times.

Here are the top expense categories representing 2/3 of Virginia's Budget:

A 12% larger two-year budget was proposed by the Governor at $115 Billion
Medicaid = 22% and the 9 other agencies below in order.
Department of Education
VDOT
The University of Virginia
The Department of Social Services
The community college system
Virginia Tech
The Department of Corrections
VCU
The Department of Behavioral Health and Human Resources

AIMCO attempted to sue AirBnB for "helping residents" violate their leases but a judge has ruled that AirBnB is protected against this kind of suit.  Residents may still be held accountable for violating thier leases so make sure that your subleasing clause is up to date or sign up to use the NAA Lease!

What shaped the year for affordable housing acorss the country?

Your local housing authority just received new guidance for administering Low Income Housing Tax Credits.  There are some interesting  changes including not allowing local government to veto LIHTC approvals.

RLRAC 1/11/18 Morning Membership Meeting (Lynchburg) - Winter Weather Concerns
BRAC 1/17/18: R-22 CFC/608 Universal Certification
CVAA 1/23/18 Fair Housing Certification
HRAC 1/24/18 R-22 CFC Certification Course
RLRAC 1/25/18 Mini Con (Trade Show & Education)
BRAC 2/2/18 Morning Coffee - Office & Maintenance Communication
CVAA 2/6/18 R-410A HFC Certification
RLRAC 2/7/18: R-22 CFC/608 Universal Certification
RLRAC 2/8/18: R-410A HFC Certification Course
BRAC 2/14/18: R-410A HFC Certification Course
CVAA 2/20/18: R-22 CFC Certification
HRAC 2/21/18 R-410A HFC Certification
CVAA 3/13 & 3/14: Certified Pool Operator (CPO)
CVAA 3/21/18 Maintenance Mania & Appreciation Day
RLRAC 3/21/18 CPO Seminar
VAMA 2018 State Conference - April 11th - 13th
BRAC 4/18/18: Certified Pool Operator (CPO) Course
HRAC 4/25/18 Certified Pool Operator (CPO)
CVAA Certificate for Apartment Maintenance Tech (CAMT)
CVAA 10/11/18 Mini Con Trade Show & Seminar Series
NRVAC 10/25/18 Trade Show & Maintenance Seminar

Copper Spring in Henrico County just west of Richmond sold for $18 million more than in it's previous sale in 2011.

The rehabilitation of warehouse space and construction of new apartments in Fredericksburg which needed special exceptions from zoning code was granted approval by Fredericksburg City Council to move forward.

D. R. Horton is hiring in Richmond's Midlothian area with 8 jobs posted. 

Richmond's Magnolia Green neighorhood will now include 248 apartments along with the single family homes currently built and under construction.

Cityside at Huntington Metro was purchased by Rockville-based The Donaldson Group and New York-based Angelo, Gordon & Co.  and will undergo renovations beginning next year.

10 development projects of note around the Richmond Region.

The former Wells Fargo bank building on Jefferson Street was donated to Virginia Community Capital which is considering all options for reuse including residential.