Virginia Housing Development Authority made the following changes to its 2015 LIHTC Application.
- Corrected page 20 so that the state basis boost is not eligible for tax-exempt bond developments.
- Corrected the equation to allow the state basis boost for rehab developments that meet the requirements.
- Corrected the calculation of points for 7b on the score sheet to reflect the sliding scale for developments with less than 100 units.
- The lines requesting the recording date and title of the purchase or right of first refusal documentation from the reservation application on page 24 have been deleted. This information will be requested with the Allocation Application in November.
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Budget conferees in Virginia released a budget that includes $8 million for the Housing Trust Fund. In order to be enacted, the State House and Senate must vote on the budget and it must be signed into law by the Governor.
