Virginia

All 2020 competitive nine percent reservation applications are now available, all accompanying market studies for applications are available here. Please note the competitive nine round continues on track with original timelines with staff currently reviewing (remotely) all mandatory items.

The District of Columbia, Maryland and Virginia (DMV) have all extended their shelter in place orders and issued moratoriums on foreclosures and evictions.

Virginia Housing will be holding a WebEx session on Friday, April 3, 2020, at 9:00 am EST to discuss the impact of COVID-19 on our rental housing programs and portfolio and response to those impacts.

Virginia Housing Department Authority (VHDA) remains open for business but working remotely.

The presentation at the Virginia Housing Development Authority’s (VHDA) 2020 LIHTC workshops in January indicated an anticipated nine percent available credit amount of $15,751,701. Due to multiple deals returning allocated credits, the revised anticipated credit amount for the 2020 competitive round is $16,854,854.

On August 26, 2019, the Virginia Housing Development Agency (VHDA) announced new policies regarding use of REACH Virginia funds, which was to become effective immediately for tax-exempt bond loans, as well as any taxable loan associated with nine percent LIHTC deals applied for in the 2020 allocation round. In response to public comments VHDA will delay implementation of any change in such policy to a date to be determined, but not earlier than June 30, 2020.

After careful consideration of all utility allowance options, the Virginia Housing Development Agency (VHDA) has elected to amend the options available for project utility allowances. VHDA review and approval is required before implementing alternative utility allowances for non-RHS (RD), and HUD Assisted Buildings. The following alternative utility allowance methods are approved by VHDA: Local Utility Company Estimate, Energy Consumption Model or HUD Utility Schedule Model.

Governor Ralph Northam (D-VA) announced his proposed budget will include $92 million in new funding to address housing affordability, eviction rates and supportive housing throughout the Commonwealth. The Governor’s proposed budget invests $63 million in the Virginia Housing Trust Fund (VHTF), bringing the total amount to $84 million over three years.

The Virginia Housing Development Authority (VHDA) identified public housing transformation as one of the its highest priorities and is considering the following options:

The Virginia Housing Development Authority (VHDA) will hold three LIHTC workshops in the new year. The workshops will review upcoming programmatic changes for 2020 tax credit applicants and provide an opportunity for stakeholder input and suggested potential 2021 QAP changes. January 7 from 9:30 am-12:30 pm in Reston, VA January 8 from 9:30 am-12:30 pm […]

The Virginia Housing Development Agency (CHDA) established a schedule of application deadlines for five potential tax-exempt rental housing bond issues for the 2020 calendar year: November 1, 2019; January 2, 2020; March 2, 2020; June 1, 2020 and August 3, 2020.

The Virginia Housing Development Authority (VHDA) released lists of market studies and applications received for the four and nine percent LIHTC. Four Percent Applications and Market Studies Nine Percent Applications Nine Percent Market Studies VHDA also updated the policies for its REACH Program. The Reach Program offers $93 million in subsidy to incentivize the development […]