INDEPENDENT LOCAL NEWSNewport News, Virginia
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NNRHA March 2025 Report to the Board

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COMMUNITY DEVELOPMENT Community Development Block Grant (CDBG) The CDBG Application Review Committee had two new members this year. Orientation for the two new members was held on February 5th. Application binders were delivered to all application review committee members on Friday, February 14th. The applicant presentations were held on February 27, 2025. All applicants were represented and each gave a three-minute presentation about their respective organizations and plans. All participants were also informed that the funding for 2025 - 2026 CDBG grants may or may not be impacted by federal budget decisions. After the public portion of the meeting was adjourned, the committee and staff from NNRHA and the City of Newport News met to solidify its recommendations for the most efficient and effective use of anticipated CDBG funds. 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 $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, 2024 — June 30, 2025 (Completed) | Denied Pending Current Underwriting in | Withdrew Additional Month Process Documentation | (Completed) 5 0 1 New DPA Applications February 2025 Total DPA Applications Received for July 1, 2024 — June 30, 2025 14
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