The Virginia Housing Development Authority has approved its proposed 2010 qualified allocation plan for its low-income housing tax credit program, and sent it to the governor for his signature.  Significant changes from the 2009 QAP include to:

  • Revise the credit pools to recognize geographic areas that are anticipated to have an increase in rent-burdened households;
  • Allow Industrial Development Authorities in jurisdictions without a housing authority to compete in the Local Housing Authority pool;
  • Allow points in the 40-point subsidized funding category for developments with a firm commitment of Virginia 315-Z funding;
  • Create a 5-point category for projects in which all units have geothermal heat pumps;
  • Creates a 10-point category for developments with a solar electric system;
  • Eliminate the 10-point category for a LEED-certified design team member; and
  • Increase the competitive amount of the following year’s credits to be pre-allocated from 10% to 40%.

VHDA has scheduled a series of “How-to-Apply” training seminars to be held in Wytheville (Jan. 6), Glen Allen (Jan. 8), Falls Church (Jan. 13), and Norfolk (Jan. 20).  Virginia’s 2010 LIHTC program schedule is posted on VHDA’s VHDA website. Read More…