CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – While the transition of leadership in the commonwealth involves a lot of collaboration between the outgoing administration and the team of the governor elect, there is a lot to cover, and it would be easy for the outgoing governor to focus on that and potential next steps for their political career.

However, although Virginia’s current governor Glenn Youngkin, undertook the duty of presenting his final proposed budget to the Senate and House appropriation and finance committees, he did so while making philosophical statements from his political perspective and highlighting the accomplishments of his administration.  He has also continued to keep a full schedule and on Thursday, he authorized $154.5 million dollars of state funding for loans to support affordable housing initiatives across the state through the Affordable and Special Needs Housing Program.

According to a release from the Governor’s office, the funding will be allocated to 47 projects across the state that are expected to support over 3,000 homes for low income families.  The state funds are expected to leverage $974 million dollars in both public and private resources and partnerships for a collaborative financial impact of approximately $1.1 Billion dollars to go towards affordable housing projects.

“These loans leverage a total of $1.1 billion to provide accessible and affordable housing for all Virginians,” Glenn Youngkin wrote in a statement announcing the initative. “This is a cornerstone for the prosperity of our Commonwealth. By prioritizing housing, we strengthen our economy, reinforce our communities, and build a stronger, more vibrant Virginia for generations to come.”

The way it all works is that The Virginia Department of Housing and Community Development (DHCD) issues the loans, which are then partnered with state and federal resources to provide gap financing that speeds up construction projects of both new projects as well as housing that needs to renovated. 

The funding is drawn from multiple pots, the federal HOME Investment Partnerships Program, the federal National Housing Trust Fund, Housing Innovations in Energy Efficiency, and the Virginia Housing Trust Fund. 

The governor’s office describes the initiative as an action by his administration to “support moderate and low-income families, as well as support homeless reduction grants to provide rapid rehousing and longer-term housing solutions for individuals experiencing chronic homelessness. “

The initiatives and activities being rolled out in Governor Youngkin’s final thirty days will cause some to speculate whether he is setting up a platform to pursue a higher office.  But when asked by the Associated Press about his next move, Youngkin was noncommittal.  While some have speculated about a potential presidential run in 2028 or the possibility of challenging senior U.S. Senator Mark Warner, it has become clear that Youngkin wants to finish his tenure as Governor by not just fading into the sunset.