CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – Albemarle County supervisors will consider distributing the remaining $840,000 in the Affordable Housing Investment Fund for staff-initiated projects to help county employees who live in Albemarle County during Wednesday’s meeting.

The Virginia Association of Realtors, according to the agenda item, noted the May 2026 median sales price of homes sold in the county was $554,083, with the median list price of $630,000.

“In order for a home at this price point to be affordable, a homebuyer would need an annual household income of at least $130,764 for a traditional bank mortgage, or $100,640 for a FannieMae HomeReady mortgage product. According to the Albemarle County Office of Human Resources, 85% of Albemarle County staff earn less than $100,640 per year,” according to the agenda.

The county is paying police officers a $60,798 starting salary, firefighters start at $59,825, teachers $57,511, and family support workers $54,583.

The U.S. Department of Housing and Urban Development has established the area median income (AMI) for the Charlottesville metropolitan service area at $139,800.

Affordable housing is targeted at households with annual incomes at or below 80% AMI, or $111,840.

Staff proposes, with this final $840,000 of AHIF money, establishing a pilot program to test the interest in and impact of an employer assisted housing program which would provide down payment assistance and rental assistance to Albemarle County employees.

Eligibility requirements include household income at or below 80% AMI; completion of homebuyer education classes; in good standing with Albemarle County; subject to cap of purchase price, meeting HUD’s definition of affordability, or where no more than 30% of household income is spent on housing; matching funds of $10,000; ability to attain traditional bank financing; property must be within Albemarle County limits; and the home must be a primary residence.

This loan would be secured with a lien on the property and forgivable at the rate of 20% per year, as long as the recipient remains employed with Albemarle County.

Rental support, in the amount of $2,500, would be provided to households earning less than 60% AMI, as a 100% match for security deposit expenses.

It would be a five-year pilot program to test the interest in and impact of an employer-assisted housing program.

If approved by the Board of Supervisors, this $840,000 2026 AHIF expenditure would be sequestered for the exclusive use of this program from July 1, 2026 through July 1, 2031.

Back on March 18, the board approved $4,068,176 in grants and loans from the fund.

$1.661,464 went to Habitat for Humanity of Greater Charlottesville for “constructing 20 affordable rental units across 4 buildings in Phase 2 of the Southwood Redevelopment project.”

$1,249.618 was allocated to the Piedmont Housing Alliance for “critical capital preservation upgrades across four affordable housing communities in Albemarle County.”

$679,124 went to the Local Energy Alliance Program for “provision of energy assessments and associated energy upgrades for low/moderate income renters and homeowners.”

$377,970 went to Support Works Housing for “gap funding to replace a federal grant for energy efficiency work.”

$100,000 went to the Salvation Army for “funding to start operation of 7 shelter beds for families experiencing homelessness.”

“AHIF funds can be used to support a variety of affordable housing initiatives including homeowner rehabilitation projects, construction of affordable rental units and homeownership opportunities, construction of Permanent Supportive Housing units, energy efficiency upgrades, and non-congregate shelter services. during the COVID-19 pandemic,” according to the county’s AHIF webpage.

The supervisors Wednesday meeting starts later than usual, at 3 p.m. instead of the traditional 1.

Other than opening the meeting with a resolution honoring Charles Ridgeway “Ridge” Schuyler III, this AHIF item is the only one on the action agenda.

Among the evening public hearings is a proposal to increase the salaries for members of the Board of Supervisors.

“The proposed 2% adjustment will increase Board members’ annual compensation from $20,805 to $21,221 in FY 27,” according to the agenda item discussion. “The proposed stipend for the Board Chair will increase from $1,891 to $1,929, and the proposed stipend increase for the vice-chair is from $630 to $643.”

After that, another public hearing is held to consider an increase in compensation for members serving on the Planning Commission and other appointed Boards compensated under the County Code.

“With the FY27 budget adoption on April 22, 2026, the County implemented a 2% Cost of Living Adjustment for classified staff, effective July 1, 2026, to support increasing wages in response to inflation and to remain competitive with employers in our area,” according to the agenda item discussion.

This public hearing is for consideration of adopting an ordinance to increase compensation for Planning Commission and appointed members of the Other Boards, as named in County Code, by 2%, effective July 1, 2026, in alignment with the staff increase.

In two other public hearings, supervisors will consider adding lands to the Green Mountain and Chalk Mountain Agricultural and Forestal Districts, and withdrawing part of a parcel from the Lanark Agricultural and Forestal District.

Supervisors lastly will consider amending riparian buffer standards.

The public hearing portion of the meeting starts at 6 p.m. Wednesday.