Virginia
VA Hurricane Florence Disaster Relief Guidance
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 […]
Virginia Hosts 2019 QAP Focus Group July 26
Registration is available online.
Virginia Accepting Comments on Minimum Design and Construction Requirements
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.
Virginia Revises Financial Reporting Requirements for Multifamily Developments
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 […]
Virginia: LIHTC Application Now Available
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.
Virginia Hosts LIHTC Workshops
Registration is now available for VHDA’s LIHTC Workshops across the state during the month of January.
Virginia Announces Lower Financing Rates
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.
Virginia Announces Final Rankings for 2017 LIHTC Applications
The Final Rankings for the LIHTC Reservation Applications requesting 2017 credits are available for viewing on the VHDA website.
Virginia Responds to Equity Market Changes, Doubles REACH Loan Allocation Limits
A chart comparison of the standard and increased REACH loan limits is available.
Virginia Requests Input Regarding Potential Equity Market Changes
A message from JD Bondurant, Director of LIHTC Programs.
Virginia Releases Summary of Proposed Changes for 2017 QAP, Hearing Sept. 20th
Virginia Housing Development Authority has released a summary of changes for the 2017 QAP.
Virginia Hosts QAP Forum to Discuss Next Year’s Potential Updates
Virginia Housing Development Authority (VHDA) will be holding a 2017 QAP Forum to discuss potential updates to next year’s QAP.