THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Friday, October 28, 1994 TAG: 9410280611
SECTION: FRONT PAGE: A16 EDITION: FINAL
SOURCE: BY MIKE KNEPLER, STAFF WRITER
DATELINE: RICHMOND LENGTH: Short : 36 lines
Gov. George F. Allen's ``Police in Residence'' program is just one of seven housing initiatives he announced Thursday for revitalizing inner-city neighborhoods and rural communities. Here are the others:
A public-private home ownership package that will redeploy $10 million in existing funds from the Department of Housing and Community Development and the Virginia Housing Development Authority. The money will be used to leverage $20 million in private loans and assist residents of subsidized housing to buy houses.
A $6 million urban rehabilitation and homesteading program to eliminate blight and provide below-market rate housing renovation loans for vacant and substandard homes. Lower-income people would buy the properties.
Removing regulatory barriers that discourage private investment in blighted neighborhoods.
A directive to state housing agencies, instructing them to offer grant incentives to local governments that reduce regulatory barriers.
Increasing Virginia's enterprise zones to 50 and adding two more tax incentives for businesses that invest in distressed areas.
Creating a Virginia Enterprise Initiative to boost self-employment opportunities for low-income entrepreneurs. The program will help community organizations start or expand job-generating efforts, secure access to credit and develop business skills.
KEYWORDS: GOVERNOR GEORGE ALLEN PROPOSALS HOUSING by CNB