Some might say that it’s ironic that a mayor would introduce a multifaceted initiative called “Stay RVA” as he prepares to exit his elected office. But that’s when Mayor Levar M. Stoney decided to share his plan that aims to provide financial assistance to Richmond’s renters and homeowners. The mayor is correct in realizing that Richmond’s housing crisis will “stay” after he’s gone from City Hall.

The mayor’s proposal has three parts. There’s “A Gap Grant Pilot Program,” which would reduce the burden on low-income residents spending a significant portion of their income on housing.

This program offers up to $200 monthly for six months, for renters and homeowners. In addition, the Richmond Freeze Program aims to support senior homeowners and the disabled by freezing their property tax assessments and shielding them from escalating tax bills. The proposal also includes a one-time 4-cent tax rebate for all property owners, which effectively lowers the city’s real estate tax rate.

Sounds like something we could’ve used a few years ago. “Stay RVA” certainly won’t solve all of Richmond’s housing problems, which include a lack of affordable houses, but it’s a step in the right direction.

As we look toward the future, we hope the next administration builds on initiatives like these and fosters a comprehensive approach to housing that addresses the needs of our city. If we’re going to “stay,” let’s strive to thrive.