INDEPENDENT LOCAL NEWSNewport News, Virginia
Back to the record

Document text · Page 49 of 54

NNRHA August 19, 2025 board meeting package

Text from the approved public copy. Page numbers follow the PDF sequence.

Open Source Document

This page was read by OCR. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.

COMMUNITY DEVELOPMENT The 2025-2029 Five-year Consolidated Plan and the 2025 Annual Action Plan are complete. The draft has been published to the NNRHA website and the City of Newport News website. Hard copies have also been distributed to public housing sites, libraries and community centers. A virtual public meeting to discuss the plans and answer questions was held on July 24 at 6:00 p.m. 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, 2025, and will conclude June 30, 2026. NNRHA has expended $380,950 of the total $4M awarded to serve the citizens of Newport News. 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, 2025 — June 30, 2026 Withdrew (Completed) | Denied Pending Additional Documentation Current Month (Completed) Underwriting in Process 0 1 4 New DPA Applications July 2025 Total DPA Applications Received for July 1, 2025 — June 30, 2026 4 Total Housing Rehabilitation Activity for August 2025 Residential Repair Program Cases Projects Completed 2 Projects in Underwriting 13 Projects Pending Approval 0 Projects Ongoing 3 Projects Ineligible 0 Total 18
Jump to an indexed page (54 of 54)

Report a privacy or text-extraction issue through publication requests.