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VBCDC
Created in 1985 by the City of Virginia
Beach City Council
Board appointed by City Council
501 (c)(3) nonprofit corporation
Purpose: Provide housing opportunities
for low-and moderate-income families and
assist City in neighborhood revitalization
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Who do we serve?
Low-moderate income families, elderly and
disabled persons
Homeless families and individuals
2/3 of our tenants make less than 500/0 of the
area median income-$28,850
The median income of our tenants is $19,590
which for a family of three is less than 400/0 of
the area median income
750/0 of our tenants are working families
Of the 250/0 that do not work, the majority are
disabled or elderly
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Partnerships
City of Virginia Beach
DHNP
Banks
Virginia Housing Development Authority
Dept. of Housing and Urban Development
Dept. of Human Services
DHCD
BIZnet, Inc.
Workforce Housing Roundtable
Virginia Beach Homeless Advocacy and Resource
Partnership
Senior Housing Needs Committee
Partnerships
Achievements
Assisted 128 families to purchase home through first
time home buyers program
Own/Manage 267 scattered site rental units in
Virginia Beach
Developed 32 unit Low Income Housing Tax Credit
project
14 VBCDC Tenants purchased homes from VBCDC
Developed housing for persons with disabilities
Lead agency for HUD Homeless Management
Information System
Expanded partnerships: with DHS & Biznet, Inc.
Conduct First time Buyer Education Program
Vision for the future
Assist in Operating the Workforce Housing
Program
Expand Homeownership opportunities for low
and moderate income families
Develop rental housing for low and moderate
income families
Develop rental housing for persons with
disabilities
Develop rental housing and services for low
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Income seniors
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