Richmond, Va., Recognized By NAR and U.S. Conference of Mayors

WASHINGTON, October 28, 2008

Richmond, Va., has been named an Ambassador City by the National Association of Realtors^® and the U.S. Conference of Mayors for helping create economically diverse neighborhoods and provide affordable housing for Richmond’s workforce.

To address these issues, the city established the Mayor’s Interagency Task Force. The Richmond Association of Realtors^® is a key member of this task force.

“Realtors^® build communities and care about the lack of affordable housing available for low- and moderate income individuals in many neighborhoods,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists, Long Beach, Calif. “Innovative initiatives like the Mayor’s Interagency Task Force are critical to raising awareness about housing needs. I am pleased to recognize the task force for their important work in Richmond, which has helped identify, develop, and promote effective solutions to many of the city’s challenges.”

Earlier last year, the task force completed a thorough analysis of Richmond’s permit and inspection process and recommended measures to enhance and streamline the process. The task force also developed two new multifamily and mixed-use business zoning districts to allow a mix of residential and commercial uses and further encourage neighborhood development.

By instituting an Affordable Dwelling Unit Ordinance, the task force has encouraged developers to make a certain percentage of their real estate projects available to low- and moderate-income residents. In addition, the task force established the Affordable Housing Trust Fund to help provide grants and loans to nonprofit organizations that build or rehabilitate homes for low- to moderate-income residents and help preserve and increase the city’s supply of affordable housing.

At an event today, Realtor^® Bonnie Boyd, 2008 chair of the NAR Housing Opportunity Advisory Board, joined Dave Dustin Joyce, Council for the New American City, in presenting the Ambassador for Cities plaque to Rachel Flynn, director of community development for the city of Richmond, and RAR President Scott Shaheen.

NAR and the U.S. Conference of Mayors, through its Council on the New American City, launched the Ambassadors for Cities program in 2003 to encourage cities and local Realtor^® associations to form partnerships to promote affordable housing and homeownership.

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