Fairfax County staff has proposed limiting the number of houses it buys under Chairman Gerry Connolly’s anti-foreclosure plan to 10 initially, which would be part of a larger campaign to reverse a mounting crisis in the county.
Connolly’s strategy, which he announced in March, would use money from an affordable housing fund to buy foreclosed homes, revamp them and sell them to working families. But the May report from housing staff suggests the scope of the chairman’s plan, at least early, would be limited.
The county saw an unprecedented 4,724 foreclosures between November and February, according to estimates from George Mason University’s Center for Regional Analysis. Herndon, Centreville and stretches along Richmond Highway were among the worst-hit areas.
In the report, the Fairfax County Housing and Community Development Department also recommended wrapping the $3.2 million home-buying initiative into a larger campaign that includes training counselors to aid distressed homeowners and expanding loan assistance for first-time buyers.
Connolly said he hopes to secure far more in federal funds as Congress begins to set aside money to battle the foreclosure crisis.
“There could be billions of dollars flowing from the federal level into this kind of program,” he said.
The ultimate size and cost of the home-purchasing plan will be determined by available funds, said John Payne, the housing department’s deputy director.
The proposal remains controversial, and the Board of Supervisors is far from unanimously backing the chairman’s initiative, which Connolly argues will not only allow more people to afford to live in the county, but also suture the bleeding home values and declining neighborhood quality caused by the rash of foreclosures.
“I don’t understand the board’s fascination with buying private property; we are already the county’s largest landlord,” said Springfield District Supervisor Pat Herrity. “This is clearly an area we should provide incentives and streamlined processes for the private sector to help us solve. Buying homes and fixing them for sale is clearly a function of the private sector.”
