The local government in Albemarle County has opened applications for its Affordable Housing Investment Fund, a funding opportunity to support the creation and preservation of affordable housing in the community.
AHIF was established as part of the FY 2026 budget approved by the Albemarle County Board of Supervisors, with a one-time transfer of $3 million to the fund.
Four-tenths of a cent of a property tax rate increase approved by the BOS – an estimated $1.2 million – will go into the fund on an annual basis.
AHIF program is open to qualified developers and organizations proposing projects that address housing affordability needs as outlined in the county’s strategic goals. Eligible projects can include new construction, rehabilitation or conversion of properties within the county’s designated Development Areas that commit to long-term affordability, with at least 20 percent of units reserved as affordable housing.
Those interested in applying for AHIF funding for 2026 must submit completed applications by 11:59 p.m. on Friday, July 31.
Funding decisions will be made following review of eligible applications.
The Office of Housing will hold an open house Q&A session from 10 a.m. to noon on Thursday, July 23, for those who wish to learn more about the program.
For full eligibility requirements, program guidelines, and application instructions, visit the Office of Housing webpage on www.albemarle.org.
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Chris Graham
