Virginia

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

A grant from Virginia Housing helped bring a 3D printed single-family home in Richmond to life. Compared to traditional construction, 3D printing provides significant savings in time, labor and materials, as well as design flexibility.

As of July 1, 2020, all Virginia landlords must offer the Statement of Tenant Rights and Responsibilities form to prospective tenants before signing the lease. The Virginia Department of Housing and Community Development updated the document as of July 1, 2021, which should be included in all new move-in files within the Virginia Housing portfolio.

Virginia Housing is providing stakeholders an opportunity to weigh in on any, or all, proposed 2022 QAP changes via an online QAP survey. The survey is broken into eight sections and each proposed change is outlined with a description, reference to the applicable page in the QAP where the change is proposed and actual language being considered. The survey will conclude on August 12. Comments can also be sent to TaxCreditApps@VirginiaHousing.com.  

Based on feedback, Virginia Housing made changes to streamline the application process for emergency rental assistance

Virginia Housing has decided to limit the state’s new Housing Opportunity Tax Credit to $15 million per fiscal year for five years, for an aggregate program amount of $75 million.

Woda Cooper Companies, Inc. announced that it was honored as the 2021 Housing Champion by the Community Transformers Foundation (CTF) at the nonprofit organization’s virtual awards ceremony June 12, 2021. Community Transformers Foundation is a private, independent foundation serving communities in Virginia. It was created to address health and social inequities in communities that are historically under served and represented. CTF focuses on four areas addressing economic stability, social and community engagement, education and wellness and health care. 

Virginia Gov. Ralph Northam (D) signed into law legislation creating a state LIHTC. S.B. 1197 creates the Virginia housing opportunity tax credit, which will have a $15 million annual allocation for five years, applying to taxable years beginning on or after January 1, 2021. The state credit will match federal four and nine percent LIHTC allocations.

The Virginia legislature recently approved a bill to create a State LIHTC, sending the legislation to Gov. Ralph Northam’s (D) desk. S.B. 1197 creates the Virginia housing opportunity tax credit with a $15 million annual allocation for five years. The credit would be effective for taxable years beginning on or after January 1, 2021, and […]

Virginia Housing updated its 2021 LIHTC Application FAQ as of March 2 and encourages developers to regularly check their website for updated FAQs.

Virginia Housing will hold a QAP initial discussion on February 17 from 10 a.m. to noon to receive stakeholder input on potential changes to incorporate in the 2022 QAP. Register here.

SCG Development announced the closing of Ovation at Arrowbrook Apartments, located in Herndon, VA. Ovation will be a $100 million mixed-use development located in close proximity to the future Innovation Center Silver Line Metro Station and the Center for Innovative Technology in Herndon, VA. The development will feature 274 affordable apartment homes with 38,000 square […]

Virginia H.B. 2050 would create a state LIHTC equal to the amount of the federal LIHTC that a development receives. The bill would create the Virginia Housing Opportunity Tax Credit, effective January 1, 2021. The credit would not be refundable but could be carried forward up to five years.