Virginia

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

The 2019-2020 Qualified Allocation Plan approved by the Virginia Housing Development Authority is now available.

VHDA Disaster Relief Guidance If any owner(s) are willing to provide emergency housing to individuals/households displaced due to a Federally Declared Disaster, please provide the property name(s) and contact information via email to the assigned Compliance Officer. VHDA will contact you for the list of displaced households as a collective effort to share with their […]

On September 14, 2018, the President declared Hurricane Florence a major disaster. As of September 17, 2018, the Federal Emergency Management Agency (FEMA) designated eight North Carolina counties as major disaster areas. Review the list of eligible counties here: fema.gov/disaster/4393. The guidance in Revenue Procedures 2014-49 (Tax Credit) and 2014-50 (4% Tax Exempt Bond) apply […]

Registration is available online.

Modifications to the current 2018 requirements will affect all VHDA multifamily loans applied for in 2019 and 2020 and properties receiving 2019 and 2020 Low Income Housing Tax Credits.

Effective January 1, 2018, VHDA revised the policy on financial reporting requirements for multifamily developments.   Aggregate VHDA-Serviced Loan Amount Outstanding MOS Required Budget Required Annual Owner/Agent Financial Statements Annual Audited Financial Statements <$750,000 No No No No $750,000 to $2 Million Yes Yes Yes No >$2 Million Yes Yes N/A Yes   Guidance and […]

The 2018 LIHTC application and manual are now available. A link to the event calendar has also been added to the LIHTC Programs page. Please contact the tax credit allocation staff with any questions or concerns.

Registration is now available for VHDA’s LIHTC Workshops across the state during the month of January.

Over the past month, VHDA has begun offering lower taxable and tax-exempt rates for long-term fixed rate financing. Tax-exempt loans now have a lower rate during construction with a permanent rate dependent on the length of the construction contract.

The Final Rankings for the LIHTC Reservation Applications requesting 2017 credits are available for viewing on the VHDA website.

A chart comparison of the standard and increased REACH loan limits is available.

A message from JD Bondurant, Director of LIHTC Programs.