Virginia Housing Development Authority has released a summary of changes for the 2017 QAP. The summary also includes a map for the 2018 Proposed Opportunity Areas. Changes include:

  • Eliminating the at-large pool – Fund each deal that is next in line in pools 1, 2 and 4-8 out of the following year’s allocation so long as the remaining unreserved credits for such partial reservation exceed 50% of the credits requested in the development’s application for credits. The pre-allocated credits would come from the same pool in the next year. This would include funding the next deal in line for both the Non-Profit and Local Housing Authority Pools.
  • Increase credit limit for the Nonprofit Pool from $750k to $950k
  • Census Tracts with less than 10% poverty – Allow more than one property per tract. A new sliding point scale is also proposed encouraging development in low poverty areas.
  • RAD – An additional 10 points will be allocated to projects in the Local Housing Authority Pool participating in the RAD program.
  • Removal of the restriction on elderly housing (previously, not more than 20% of credits could be reserved for elderly housing).

9/20/16 – Public hearing at VHDA headquarters.
10/5/16 – Board Meeting – Approval of final QAP Regulations and Resolution