Albemarle County aims to incentivize affordable housing
The Albemarle County Office of Housing has launched a Bonus Bucks incentive program, which provides one-time bonus payments to property owners and/or landlords that have not previously leased to Housing Choice Voucher holders.
Bonus Bucks also includes bonuses for existing ACOH owners who want to refer new owners to the program, as long as the referral results in a lease signing. The program will run until June 30, or until funds are expired.
ACOH currently has 15-20 clients with vouchers who will be seeking apartments starting Feb. 1. Each client has 90 days to find a unit and sign a lease using the subsidy guaranteed by their voucher. Eligibility requirements help determine which owners can participate in the Bonus Bucks incentive program and within what timeframe to ensure new tenant lease-up in a timely manner that coheres with internal processes and HUD deadlines.
“The Bonus Bucks program is just one way we make connections between available rentals and families who are seeking their new home.” said Philip Holbrook, manager of ACOH’s Housing Program.
This program has short- and long-term benefits, including quick lease-up for families, intentional and grassroots owner outreach, new owner retention, and positive engagement with the community around affordable housing. This program directly responds to the challenges of finding and renting affordable units in the community – challenges that have been further exacerbated by the conditions of COVID-19.
The program seeks to engage new owners and retain existing owners in participation with the Housing Choice Voucher program.
Owners interested in learning more about the Bonus Bucks incentive program should contact the Office of Housing by calling 434-972-4010, ext. 3392 or email Rental Assistance Coordinator Carter Walker at firstname.lastname@example.org.