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QAP changes proposed; public hearing scheduled

Posted by: VHFA on 9/4/2008

The recently enacted Federal Housing and Economic Recovery Act of 2008 (HR 3221) contains a number of reforms, including changes that will affect the Housing Credit program.

VHFA has proposed additional changes to Vermont's Qualified Allocation Plan (QAP), not initiated by this legislation but based on other policy changes, feedback, and program experience.

These changes pertain to:

  • The definition of "blight";
  • The mixed-income threshold;
  • Permanent supportive housing; and
  • Homeownership tax credit

We've placed several documents explaining these proposals on our Web site.

Interested parties should plan to attend the Joint Committee on Tax Credits public hearing, scheduled for Sept. 15 from 12 noon to 2 p.m. at the Agency of Commerce and Community Development, Calvin Coolidge Conference Room, 6th Floor, National Life Building North, Montpelier, Vt.

If you plan on attending, please R.S.V.P. to VHFA Executive Assistant Lori Gilding.