Description
Title: To request that the Chief Administrative Officer cause the Department of Planning and Development Review, in coordination with other relevant City departments, to conduct a study of the feasibility of establishing a registration system for non-profit housing providers to register housing units reserved for affordable housing tenants and purchasers within the city for the purpose of identifying such units and recognizing affordability restrictions in the valuation of such properties for taxation purposes and to provide the Council with recommendations for implementing such system.
Summary
On April 27, 2026, the Richmond City Council introduced Resolution No. 2026-R021, which seeks to assess the feasibility of establishing a registration system for non-profit housing providers. This system aims to register housing units designated for affordable tenants and purchasers, enabling the City to better identify these units and incorporate affordability restrictions into property tax assessments. The resolution acknowledges the ongoing shortage of affordable housing for low- and moderate-income residents and recognizes the critical role of non-profit providers in addressing this issue. The study will explore whether the registration should be voluntary or mandatory, detail the necessary information for registration, and evaluate administrative impacts. Findings will be presented to the Council within 90 days of the resolution's adoption. This initiative is crucial for ensuring