The Virginia Housing Development Authority LIHTC Program Director Jim Chandler has issued the authority’s third notice of program updates for applicants seeking 2009 low-income housing tax credits. The notice clarifies that:
- Developments eligible to compete in the Nonprofit or Local Housing Authority (LHA) pools must request the maximum $750,000 credit amount before requesting the TCAP funding. Those applications that compete in either the Nonprofit or LHA pools but are determined to be ineligible to compete in either pool will have the credit amount adjusted to the maximum before TCAP funding is considered.
- To participate in the Non-Profit Pool, the non-profit entity must be authorized to do business in Virginia and must be substantially based or active in the community of the development.
- If a LEED Accredited Professional has not yet received a printed Certificate from the Green Building Certification Institute, VHDA will accept a print-out from the searchable website of the Green Building Certification Institute’s LEED Professional Directory
