Modifications to Vermont’s housing tax credit program for 2014

By: Leslie Black-Plumeau

DDA 2014Vermont’s “difficult to develop” areas under the Low-Income Housing Tax Credit provisions have been revised to include all counties with the exception of Addison, Orleans, Caledonia and Essex for 2014.

Additional modifications, as delineated in a proposed Qualified Allocation Plan (QAP), include:

  • standardizing definitions used by affordable housing funders for consistency in reporting housing activities to interested third parties;
  • shifting compliance reporting from the paper project status report to VHFA’s Web Compliance Management System; and
  • clarifying that eligibility for homeownership tax credits means that mobile homes meet Energy Star standards and that all homes be newly constructed or substantially rehabilitated.

Read more about the proposed QAP changes on  VHFA’s website or attend a meeting for Vermont’s Joint Committee on Tax Credits which is also a public hearing.  The meeting will be held  Monday, December 16, at 9:00 AM in in the Calvin Coolidge Room, ACCD, National Life Building, 6th Floor, Montpelier.