New ordinance establishes a dedicated, transparent, and fiscally responsible source of funding for the construction and preservation of affordable housing across Richmond. 

Tonight, the Richmond City Council voted unanimously to approve  ORD. 2026-045 , the Affordable Housing Trust Fund (AHTF) Ordinance, a redesigned policy designed to address the city’s escalating housing affordability crisis. The unanimous vote underscores the shared commitment of the Mayor, Council, and community partners to ensure that every Richmond resident has access to safe, stable, and affordable housing. The ordinance establishes a dedicated, transparent, and fiscally responsible source of funding for the construction and preservation of affordable housing across Richmond. 

The ordinance was introduced at the February 9, 2026 City Council Formal Meeting by Councilmember Ellen F. Robertson (Richmond Gateway 6th District) and Mayor Danny Avula. Both leaders emphasized the urgent need for action as housing costs continue to rise and long-time residents face displacement.  

“The approval of this Richmond Affordable Housing Trust Fund Ordinance establishes a clear, reliable framework and a fiscally responsible plan for dedicating predictable resources for the construction and preservation of affordable housing across Richmond,” said Councilmember Ellen F. Robertson, Richmond Gateway 6th District.  “It also significantly strengthens accountability and transparency to ensure those dollars move consistently and are used as intended.” 

“Tonight’s vote represents months of hard, collaborative work between the administration and council and marks a major victory for Richmond residents. Thank you to Councilmember Robertson for her longstanding leadership and advocacy, and to every Council member who engaged thoughtfully and voted in favor of this ordinance. Every resident should have the opportunity to live in a safe, stable, and affordable home. This is a huge win for our city,”  said Mayor Danny Avula.   

The new ordinance replaces the previous, difficult-to-administer Affordable Housing Trust Fund funding formulas with a clear, consistent approach. 

Key Features of the New Ordinance: 

• A simple, consistent funding formula: 2.5% of annual real estate tax revenues dedicated to the AHTF.
• Known funding amounts at budget introduction — no projections or guesswork.
• Robust transparency and accountability through new reporting requirements.
• A four-year reauthorization requirement, ensuring City Council regularly evaluates and affirms the appropriateness of the AHTF structure and investment amount.
• A phased implementation approach to support a responsible, fiscally sound rollout. 

"I am deeply appreciative of my City Council colleagues, Council and Administration Staffs, Mayor Avula, and housing advocates and community partners whose collaborative efforts were critical to the successful development of the Richmond Affordable Housing Trust Fund Ordinance which will expedite the building of housing that will address the escalating housing needs of our growing city,”  said President Cynthia I. Newbille.    

Councilmember Stephanie Lynch said, “I’m proud to have worked alongside Mayor Avula and Council colleagues on this legislation to create a stable, accountable investment in affordable housing. Together, we’re taking a meaningful step to ensure that Richmond’s growth remains inclusive and that living in our city stays within reach for all.” 

Learn more about the Affordable Housing Trust Fund with a full explainer.