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Pre-development loan programs suspended

Posted by: VHFA on 12/31/2008

At its Dec. 18 meeting, the VHFA Board of Commissioners decided to suspend new activity under VHFA's multifamily and single-family Ventures pre-development loan program.

We hope to resume this program, which has helped fund start-up development costs for non-profit organizations, as soon as market conditions allow.

To learn more about the factors that lead to the suspension, and for suggestions of other sources for pre-development funding, read Director of Development Joe Erdelyi's letter to housing colleagues (124 KB; PDF).