(RECAP: This year, the city plans to support three new affordable housing communities. Virginia Beach doesn’t own, operate or build new homes, said Andy Friedman, the city’s director of housing and neighborhood preservation. Instead, the city allocates federal grants to support new affordable developments. In the annual action plot, which must be approved by HUD, the city plans to allocate about $1.3 million toward three projects. This year, the city will support Church Street Station, located in Norfolk; a senior living facility called Tranquility at the Lakes; and Seaside Harbor, an affordable apartment development at 18th Street and Mediterranean Avenue.)

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(RECAP: The Warrenton Town Council on Tuesday will consider a zoning text amendment that would allow consideration of the proposed mixed-use development with a movie theater, shops, restaurants, apartments and condos along Walker Drive. Local real estate investors Mike Forsten, Bill Springer and Bob Springer have applied for a “plotted unit development” overlay. Their conceptual plot shows 14 buildings (two of them existing) with approximately 300,000 square feet of finished space. If the text amendment passes, the specific development proposal still would require public hearings before the plotting commission and town council, which has the final authority.)

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(RECAP: Rob Kaplan, president of the Dallas Fed, said Tuesday he expects an interest rate hike in the “not-too-distant future” if the economy recovers after a “mediocre” first quarter. Kaplan said he thinks the economy will recover to “a small under 2%” growth for the full year, led by strong consumer spending and a healthy labor market. The Dallas Fed president defended the Fed’s December interest rate hike, the first policy tightening in nearly a decade. “The go in December I reckon was the right go but I reckon we’re going to have to be slow and patient,” he said. “It doesn’t mean standing still. And I reckon we will make another go sometime in the not too distant future if GDP recovers in the way I expect,” he said. Kaplan is not a voting member of the Fed’s policy committee this year.)

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