Affordable housing plan proposed between Williamsburg City, W&M by mortgage lender
It's Feb. 10. C&F Mortgage proposes affordable housing plan with $900,000 in Williamsburg grants. Increased water and sewer rates in James City require public hearing. York's $700 million dilemma.
C&F Mortgage pitched Williamsburg City Council Monday on a joint partnership with the city, William & Mary and the Community Foundation to provide $2.7 million in grants to support the city’s affordable housing efforts.
The city set aside $900,000 several years ago to support an affordable housing program, which could be used for the proposal, City Manager Andrew O. Trivette said. Council members expressed support for the idea at their work session Monday, but did not commit.
The proposal is still in its early stages. C&F Chief Business Development & Information Officer Natalie Zvanya told council that the mortgage group had not approached either the university of the foundation yet to discuss the idea.
The mortgage lender is proposing a multi-layer approach that includes educating potential homeowners, helping them obtain federal and local grants, and guiding them through the home buying process.
Zvanya said that even if new buyers can find a house the…
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