On October 2, 2013, The Virginia Housing Finance Authority (VHDA) Board of Commissioners Approved revisions to the 2014 Qualified Allocation Plan. The application deadline is January 29, 2014 and application materials will be available in mid-December. Below is a list of important dates to keep in mind:
January 07 How-to-Apply @ The Virginia Housing Center (4224 Cox Road-Innsbrook)
January 07 How-to-Apply @ The Southwest Virginia Housing Center -Wytheville
January 08 How-to-Apply @ Fairfax Marriott at Fair Oaks – Fairfax
January 09 How-to-Apply @ Marriott – Norfolk Marriott Chesapeake
January 29 VHDA Locality CEO Notification Form Letter 2:00 PM deadline
March 14 Reservation Application & Market Study 2:00 PM deadline
May 13 Announce Preliminary Rankings, begin general comment period
May 20 Close general comment period, begin rebuttal comment period
May 27 Close rebuttal comment period
June 04 Announce Final Rankings
November 3 Application for Allocation Deadline
Some notable changes include:
- Continuing the New Construction Pool
- Implement Cost Limits for Inner Northern Virginia (Arlington County, Fairfax County, City of Alexandria, City of Fairfax and City of Falls Church) and Prince William, Loudoun and Fauquier Counties.
- Revise the support letter point category to:
- Support letter or no comment: 0-points
- Locality opposition letter: negative 25-points
- Add Virginia Housing Trust Fund and other funding sources to subsidized funding category (funding from VOICE for developments in Prince William County, and other unrelated private foundation donations). (VHDA REACH funds will not be eligible for points in this category.).
- Allow points for either family or elderly developments in census tracts with less than a 10% poverty rate and no existing corresponding family or elderly development in that census tract.
- Remove the 70-point limitation for amenity points.
The Virginia Housing Finance Authority (VHDA) released the 2014 Virginia Draft QAP. The QAP is now open for public comment until September 12, 2013. Two forums are scheduled on Wednesday, September 4, 2013 from 1:00 pm – 3:00 pm and will be conducted simultaneously at the VHDA’s Southwest Housing Center in Wytheville and the Virginia Housing Center in Innsbrook. The formal public hearing for the proposed Virginia QAP will be held on Thursday, September 12 at 10:00 am at:
Virginia Housing Development Authority
601 S. Belvidere Street
Richmond, VA 23220
Some notable changes include:
- Continuing the 2012 and 2013 New Construction Pool.
- Implementing a cost limit for Virginia regions. These regions are: Inner Northern Virginia (Arlington County, Fairfax County, Alexandria, Fairfax, and Falls Church), Prince William & Loudoun County, and the balance of state. Any application that exceeds a cost limit would be rejected from further consideration and would not be eligible for any reservation or allocation of tax credits.
- Changes in the point system. The threshold score decreased to 425-points for 2014 competitive credits from 450-points in 2013 and to 325-points for 2014 tax-exempt credits from 450-points in 2013:
- Revise the support letter category. Local support or no comments will receive 0 points on the application. If a locality opposition letter with an accompanying legal opinion states a project violates the Fair Housing Act or does not have a discriminatory effect on the area, then the application will receive negative 25-points.
- Any proposed elderly development in a census tract that has less than 10% poverty rate with no other elder developments will receive up to 25-points.
- Any proposed family development in a census tract that has less than 10% poverty rate with no other family developments will receive up to 25-points.
- Modify the requirements for the hot water heater category, low-maintenance materials category, and R-3 insulation category.
- Clarifies the point requirements for units designated for persons with disabilities and project based subsidies.
- Revise the developer experience category and penalties.
- Click here to view more of the proposed changes
Tentative dates for the final Virginia QAP are as follows: The final QAP will be finalized on October 3, 2013. How-to-apply workshops will be conducted the first and second week January 2014. The application deadline will be March 14, 2014.