RICHMOND – The House of Delegates today voted 99 to 0 to approve House Bill 2727, sponsored by Del. David Englin (D-Alexandria), to provide a much-needed tool to preserve affordable housing for elderly and disabled renters.
Current Virginia law gives certain elderly or disabled renters the right of first refusal to purchase their apartments during condominium conversions, but the vast majority of them cannot afford to take advantage of that right. Englin’s bill allows those renters to assign that purchasing right to a government agency, housing authority, or certified non-profit housing organization, such as the Alexandria Housing Development Corporation or Wesley Housing Development Corporation. The agency must then rent the unit back to the individual at an affordable rate.
“Affordable housing is a critical issue in our high-cost community, and this bill will give us a key tool to help keep many elderly and disabled members of our community in their homes,” said Englin. “This is a win-win policy that will help strengthen our economically and socially diverse community.”
Now that the House has approved the bill, the Virginia Senate must also approve the measure before it goes to Gov. Timothy M. Kaine to sign into law.
