>>Data Center Revenue Used to Create Housing Trust in Henrico County
(Henrico County, VA) -- Henrico County officials take a significant step in addressing the housing crisis. Rebecca Hughes has more.Preview: Voicer Script:
Henrico County officials voted to establish a $60-million dollar housing trust fund using some revenue from data centers in order to create more affordable housing options. The fund will waive fees for utility connections and building permits and be administered by the nonprofit Partnership for Housing Affordability. WRIC reports the trust will also maintain ownership of the residential lots it has provided grant money for, even after someone has paid to have a home built on the lot or if the home is sold to another person. As well, the equity for these homes will be shared between the homeowners and the trust over time. Supporters say it helps lower costs, while critics say it removes the actual ownership from homeowners.