It is my first official month as President of the Home Building Association of Richmond (HBAR) and the legislative season is now in full swing. HBAR is engaged in numerous legislative initiatives before the General Assembly. Working with the Home Builders Association of Virginia, we are advocating to make necessary, common-sense changes to Virginia’s proffer law. These changes would open lines of communication between local governments and applicants and allow applicants and localities greater flexibility to discuss and agree upon sensible voluntary proffers.
Currently, the Code of Virginia only allows local governments that have redevelopment and housing authorities to enact tax abatement programs for new construction in redevelopment, conservation, and rehabilitation areas. HBAR is supporting legislation that would extend the authority to create conservation districts to local planning commissions so that localities that do not have redevelopment and housing authorities are able to enact new construction tax abatement programs that can benefit their localities.
Locally, we applaud Henrico County’s effort to revisit its partial tax abatement program for rehabilitation projects. Henrico is considering amending the partial tax abatement program so that homes built more than 24 years ago and assessed at no more than $300,000 would qualify for the partial abatement, which would also be extended to 10 years. The current program requires homes to be at least 40 years old and valued at no more than $250,000 and allows for a partial abatement for seven years.
Each year many new regulations are proposed that would, if passed, significantly drive up the cost of new construction, thus making homeownership less affordable and out of reach for far too many Virginians. The Home Building Association of Richmond will continue to fight to prevent new burdensome policies and regulations from being imposed on land development, homebuilding, and the entire construction industry.
We invite and encourage you to join us in this effort. Visit us at hbar.org.
2019 HBAR President
President, Mitchell Homes