A program to help Richmond City employees buy their first homes isn’t on track to use its COVID-19 relief funds by a 2026 deadline, potentially forcing the city to give $1.3 million back to the federal government.
The Richmond Employee Homebuyer Assistance Program was created in 2023 and funded with $1.3 million in repurposed American Rescue Plan Act dollars. The program assists eligible full-time city employees with their down payments and closing costs for homes within Richmond’s city limits. It’s administered by the nonprofit Housing Opportunities Made Equal of Virginia.
Despite more than 300 city employees initially expressing interest in 2023, officials said less than a handful ultimately finished the process to get financial assistance…