The Virginia Housing Development Authority has issued its fourth update to the low-income housing tax credit reservation application process for its 2009 program. In particular, for developments that qualified for a credit adjustment with the per unit score for being in a QCT/DDA and a revitalization area, TCAP funding was inadvertently excluded from their calculation and therefore resulted in an incorrect higher credit per unit self score. The formula has been corrected and certain developments’ allocations have been revised.  read more…