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NNRHA August 19, 2025 board meeting package

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B2 Goals and Objectives. Identify the PHA鈥檚 quantifiable goals and objectives that will enable the PHA to serve the needs of low-income, very low-income, and extremely low-income families for the next 5 years. Choice Neighborhood Grants: Marshall-Ridley Choice Neighborhoeds Initiative (CNI). Phase 4-Legacy Landing II-99% complete (84 units). Construction projected to be finish by August 2025. Phase 5-Downtown (CNI V) - In Design and Development - 73 units -Groundbreaking scheduled for July 2025 - 18 month project. Heaith and Wellness Trail - Completion projected for August 2025. Connects Pinkett's Beach to 18th Sireet. Encourages healthy living, walkability, and community connectivity and Links major corridors like Ivy Avenue and 16th Street. Modernization or Development: The renovations are complete for the Orcutt Townhomes and RAD conversions. The anticipated RAD closing for Orcutt Townhomes | will occur in September 2025. Demolition and/or Disposition: Marshall Courts VA003000302 Demolition of 88 units will begin August 2025. To date the remaining 259 units are being been renovated and facades upgraded. NNRHA approved the issuance of Multifamily Housing Revenue Bonds in the amouni not to exceed $16,000,000 for the construction of two properties financing a portion of the costs of acquiring, constructing, and equipping the two affordable housing developments to be known as Colle Phase | and the Coile Phase Il. NNRHA will provide Project Based Vouchers for 8 uniis at each phase. With the addition of SPARC funding, the Housing Authority is able to expand our reach and offer Down Payment Assistance to qualifled buyers. Legacy Landing Commercial Space: 100% construction complete. Will continue to actively recruit small business tenants to support economic growth. Reducing turnover time for vacated public housing units (to house applicants faster). Reducing time to renovate public housing units. Continue to seek replacement of public housing units loss fo the inventory through mixed finance development projects and RAD. Minimizing the number of vacant units. Maintain or increase Housing Choice Voucher lease-up rates by marketing the program to owners. Maintain or increase payment standards which allow voucher holders fo lease throughout the city of Newport News. Continue to maintain an appropriate Housing Choice Voucher lease-up rates by effectively screening applicants. Award Project Based Vouchers and form additional partnerships with apartment management companies. Ensure access to affordable housing among families assisted by NNRHA regardless of required unit size Improve REAC scores. Affirmatively market to local non-profit agencies that assist families with disabilities. Advertise wait list openings in newspapers including the Dally Press, Tidewater Hispanic and our website. Previous version is obsolete Page 3 of & form HUD-50075-SY (09/30/2027)
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