The Richmond City Council has unanimously approved a new ordinance to create a dedicated funding source for affordable housing in the city. The Affordable Housing Trust Fund (AHTF) Ordinance, known as ORD. 2026-045, was passed during a council meeting and is intended to address the ongoing challenges of rising housing costs and displacement of long-time residents.
The ordinance was introduced by Councilmember Ellen F. Robertson of the Richmond Gateway 6th District and Mayor Danny Avula at the February 9, 2026 City Council Formal Meeting. Both officials highlighted the urgency of acting on the city’s growing affordability crisis.
“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. “It also significantly strengthens accountability and transparency to ensure those dollars move consistently and are used as intended.”
Mayor Danny Avula commented on the collaborative effort behind the measure: “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.”
The newly adopted policy replaces older funding formulas that were seen as difficult to manage with what city leaders describe as a clearer approach. Under the new rules, 2.5% of annual real estate tax revenues will be allocated directly to the AHTF each year at budget introduction, eliminating uncertainty about available funds.
Additional features include increased transparency through new reporting requirements, a four-year reauthorization requirement so that City Council can regularly review the fund’s structure, and phased implementation designed to maintain fiscal responsibility.
President Cynthia I. Newbille expressed gratitude toward those involved in developing the ordinance: “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.”
Councilmember Stephanie Lynch added: “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.”
Further information about how the Affordable Housing Trust Fund works is available through an explainer provided by city officials.
