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QAP public hearing coming Jan. 19

Posted by: VHFA on 1/14/2011

VHFA is conducting its annual review of the Qualified Allocation Plan (QAP) for Tax Credits, and will  hold a public hearing for feedback next Wednesday.

The QAP determines how VHFA allocates Vermont's Housing Tax Credits. We estimate we'll have $2.63 million in 2011-12 credits to allocate.

Next week's public hearing is a meeting of the Joint Committee on Tax Credits, which is responsible for making recommendations to the VHFA Board of Commissioners on changes to the QAP. It'll be held at 9:30 a.m. on Jan. 19 at VHFA, 164 Saint Paul St., Burlington.

VHFA expects its Board of Commissioners will act on the Committee's recommendation at the Board's Feb. 7 meeting. Allocations made after the Board's adoption will be made under criteria of the newly-revised QAP.

Read the marked-up QAP (PDF) as well as a summary checklist showing the proposed changes (PDF) online.

Since 1987, Housing Credits have made possible the construction and rehabilitation of much-needed rental housing in Vermont that otherwise could not have been accomplished. Thousands of apartments targeted at households earning no more than 60 percent of median income have been created or preserved.

For more information, contact VHFA Director of Development Joe Erdelyi.