The Virginia Housing Development Authority (VHDA) has issued a third update to its 2010 low-income housing tax credit reservation process. In response to comments received by VHDA, the announcement makes three updates to the LIHTC application:
- Clarifies that the underwriting standards implemented in 2009 for developments contemplating exchange funds remain in effect for 2010;
- Corrects the formula for calculating two of the components of maximum developer fee; and
- Clarifies items in the Universal Design Standards.
