AN ORDINANCE TO AUTHORIZE AFFORDABLE HOUSING GRANTS TO LOCAL GOVERNMENT AND SCHOOL EMPLOYEES WITHIN FAUQUIER COUNTY
WHEREAS, the Board of Supervisors is authorized pursuant to Section 15.2-958.2 of the Code of Virginia to offer affordable housing grants of up to $25,000 to employees to assist in the purchase of housing; and
WHEREAS, the County must first adopt an Ordinance in order to exercise its authority; and
WHEREAS, the Board of Supervisors has considered public comment on the proposed Ordinance and determined that it is appropriate and in the public interest to adopt such an Ordinance; now, therefore, be it
ORDAINED by the Fauquier County Board of Supervisors this 13th day of September 2007, That the County Code be amended to add the following provision:
Sec. 2-5.3 Grants or Loans to Employees for Home Ownership
Subject to availability of funds and the administrative guidelines provided for herein, the County hereby establishes a program to provide grants or loans to qualifying local government and school employees within the County to purchase their primary residence in the County. The County Administrator shall establish administrative guidelines for determining eligibility for the program, and the administrative guidelines shall be approved by the Board of Supervisors. No direct grant may exceed $25,000 per employee and lifetime cumulative grants may not exceed $25,000 per employee.
This Ordinance shall take effect upon adoption.