INDEPENDENT LOCAL NEWSNewport News, Virginia
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NNRHA April 15, 2025 board meeting package

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COMMUNITY DEVELOPMENT Community Development Block Grant (CDBG) The Five-Year Consolidated Plan for 2025-2029 and the Annual Action Plan for 2025-2026 are in progress. The Five-Year Consolidated Plan sets the priorities for the projects that the City and the Authority will focus on for the next five years. It is our goal to align the priorities set forward in this plan with those set by the City of Newport News. We are focused on anticipating specific needs to assist eligible citizens with CDBG and HOME programs. Sponsoring Partnerships & Revitalizing Communities (SPARC) The SPARC program allows those buyers utilizing a Virginia Housing loan product to buy down their interest rate by 1%. With the addition of SPARC funding, we are able to expand our reach and offer Down Payment Assistance to qualified buyers. SPARC allocations are approved on an annual | basis. This current program year for SPARC funding began July 1, 2024, and will conclude June 30, 2025. NNRHA has expended $3,799,204 of the total $5.5M awarded to serve the citizens of Newport News. /n March, NNRHA was awarded an additional $1.5M in SPARC funding. REDEVELOPMENT & HOMEOWNERSHIP NNRHA administers the Citywide, Down Payment Assistance Program for first-time homebuyers through the HOME Investment Partnerships Program (HOME). This program assists eligible first-time homebuyers in purchasing a home in the City. Down Payment Assistance (DPA) Fiscal Year: July 1, 2024 — June 30, 2025 (Completed) Denied Pending Current Underriting in Withdrew Additional Documentation Month (Completed) Process 5 1 - 4 New DPA Applications March 2025 Total DPA Applications Received for July 1, 2024 — June 30, 2025 17 Total Housing Rehabilitation Activity for March 2025 Residential Repair Program Projects Completed 2 Projects in Underwriting 14 Projects Pending Approval Q Projects Ongoing 0 Projects Ineligible 1 Total 17
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