Danville could be putting $2 million more into housing projects. On Tuesday, the city council will consider an amendment to the fiscal year 2025 budget appropriation ordinance that would fund efforts to attract developers for single-family housing projects in the city.
The funding would come from the unassigned general fund balance for the Housing Study Action Plan in the budget. This amount could be appropriated for this purpose yearly until no longer needed.
The city commissioned a housing study in 2022 that found that Danville has a shortage of housing stock across all housing styles and income levels. Danville created incentive programs for development and began marketing itself to housing developers after this study was published, in an attempt to draw new construction to the area. The effort, which is ongoing, has been successful for multifamily housing developments, but it has not led to significant single-family housing developments, according to city staff.
This ordinance amendment would fund city efforts to encourage developers to invest in new single-family housing projects. These developments, in turn, would increase the city’s housing supply and offer affordable options for new and existing residents. Increased housing stock in Danville would also make the city a more attractive option for higher-wage employers and improve quality of life and economic outcomes, according to a letter from city staff to the council.
City staff recommends approval of the budget ordinance.
The council will also consider another amendment to the budget appropriation ordinance to support an open house event at the Danville Regional Airport, as well as several special-use permits and proposed amendments to the city charter.
The full agenda for the meeting can be found here. This is the only city council or board meeting for the first week of October.
Agenda Danville will highlight topics of upcoming public meetings so that citizens have an opportunity to engage local government directly on important decisions.
