As property values climb and tax bills become harder to afford, Richmond officials want state lawmakers to authorize a new way to help longtime homeowners stay put.
In setting its priorities for the 2027 General Assembly session, the city has made LOOP — short for Longterm Owner Occupancy Program — its leading request, WTVR reported.
Here's what to know
Officials told Richmond's Virginia General Assembly delegation that LOOP sits at the top of the city's agenda.
If approved, the program would allow Richmond to provide relief to eligible homeowners squeezed by rising property values.
Mayor Danny Avula said the city's agenda centers on "a few key themes," WTVR reported.
"We have a lot of work to do together to ensure that Richmond is a city where people of all income levels and all backgrounds can thrive," he added.
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6th District Councilmember Ellen Robertson warned that the effects are already visible in Richmond's population shifts.
"We need to get some provisions to move that forward because we are drastically losing residents in the City of Richmond and we can't help them because of the state restriction," Robertson said, per WTVR.
"We are having a terrible displacement out of the City of Richmond because they cannot afford the escalating increase in values."
City officials also told lawmakers they want greater authority to address blighted and vacant properties, regulate short-term rentals, and strengthen renter protections.
More background
Richmond cannot simply create LOOP on its own.
Under Virginia's Dillon Rule system, local governments may act only when the state has clearly granted that power, and city officials acknowledged this proposal would additionally require a constitutional amendment.
That means the timeline is far longer than for a standard policy change. In Virginia, amending the constitution is a multi-year process that voters must ultimately approve in a referendum.
Del. Betsy Carr, D-Richmond, has introduced LOOP legislation before, but lawmakers were focused on the three constitutional amendments on the midterm ballot.
"I don't know what it's going to be like going forward," Carr remarked, per WTVR. "I do know that there are other localities that are interested in LOOP."
State Sen. Lamont Bagby, D-Henrico, tied the proposal to keeping families rooted in place and preserving wealth across generations, WTVR reported.
He said the goal is "making sure those individuals that have invested in our community and invested in their homes over a period of time are able to stay in those homes and pass that generational wealth on to their family."
What's being done?
Richmond's state agenda extends beyond housing.
The city is also asking for continued funding to upgrade its Combined Sewer Overflow system, which needs about $350 million in total to meet a state-mandated 2035 deadline.
Richmond is requesting $100 million in fiscal year 2028.
Officials are also seeking support for the water treatment plant's 10-year capital improvement plan. The city said that effort carries a $1.3 billion price tag.
A 2025 plant failure caused a multi-day water outage across the region and delayed that year's General Assembly session.
The city received $33 million in state grants from the Richmond Regional Water Work Group.
Bagby said conversations are already happening with state leaders.
"These are things that we are already having a conversation with the administration on, the House and Senate Finance Committees and so a lot of this is possible," he confirmed.
Richmond City Council has also agreed to overhaul how it builds its yearly legislative wish list to make the process more transparent and give the public more input.
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