1. Regulatory Impact Workgroup Update April 3, 2012

2. 2  Eleven Members from a broad range of housing interests throughout Virginia  Workgroup identified three primary areas of state regulations with significant impact on housing in Virginia  Virginia Department of Transportation (VDOT) regulations: o Secondary Street Standards o Connectivity Index o Traffic Impact Analysis requirements o Interactions with local requirements

3. 3  Department of Health water and sewer regulations: o Sewage handling, especially Alternate Onsite Sewage Systems (AOSS) and interactions with local regulations o Delays in the process for adopting key regulations  Department of Conservation and Recreation regulations: o Storm water Management o Interactions with Chesapeake Bay requirements and other TMDL issues

4. 4  Key regulatory staff from each of these agencies provided a presentation to the Workgroup on their current and pending regulations  Each of these agencies was actively pursuing regulatory changes that would reduce significant regulatory burdens that had a direct cost impact on housing development in Virginia.

5. 5  Workgroup conducted a dialogue with the agency representatives and encouraged the agencies to continue to implement the regulatory changes discussed.  Recent and pending amendments to these regulations addressed the priority regulatory housing issues the Workgroup identified at the state level.

6. 6  Workgroup agreed that as the agencies completed the regulatory changes then underway, no recommendations were necessary for additional changes to those regulations.  The Workgroup also noted the effect of federal regulations, especially those addressing housing finance and environmental requirements, on the ability to produce and market reasonably priced housing.

7. 7 Federal Issues  Workgroup met with Ms. Jeannemarie Davis, the Assistant to the Governor for Intergovernmental Affairs, to discuss federal laws and regulations impacting housing development.  Federal housing development requirements ◦ EPA requirements ◦ Energy ◦ HUD requirements  Federal housing finance requirements addressing the impacts of: ◦ Dodd-Frank ◦ FDIC ◦ Regulation of mortgage loan originators (SAFE)