The majority of Stafford supervisors believe there’s a need for affordable housing in the county and want to find ways to encourage builders to provide it.
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On March 1, 2021, the Virginia General Assembly approved legislation creating the Virginia Opportunity Tax Credit Program (Program), a new state low-income housing tax credit (LIHTC) that contributes an amount to a qualified project that is equal to the amount received from the federal LIHTC program.
The Program will make $15 million in tax credits available each calendar year for a five-year period beginning on January 1, 2021, and ending on January 1, 2026. To qualify a project must be placed in service on or after January 1, 2021, and receive an eligibility certificate from Virginia Housing (formerly known as the Virginia Housing Development Authority). Any housing opportunity tax credit not used in a taxable year is nonrefundable, but may be carried forward for the succeeding five years.
Amazon Grants Awards City of Falls Church $3.75 million for Affordable Housing Initiatives by Virginia Housing; The NHP Foundation to Manage Program
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The City of Falls Church has been selected by Virginia Housing to receive $3,750,000 in grants for affordable housing initiatives
“The Amazon Grant enables NHPF and The City of Falls Church to continue evolving housing opportunities from today’s rich array of options to provide paths up and out of poverty for families,” said Mansur Abdul-Malik, Vice President, Development, NHPF. NEW YORK (PRWEB) March 10, 2021 The City of Falls Church has been selected by the Virginia Housing Development Authority (VHDA) to receive $3,750,000 in grants for affordable housing initiatives through the Resources Enabling Affordable Community Housing in Virginia (REACH) Virginia Program.
Virginia lawmakers approve new affordable housing tax credit program roanoke.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from roanoke.com Daily Mail and Mail on Sunday newspapers.
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ARLINGTON, Va., Feb. 15, 2021 /PRNewswire-PRWeb/ AHC Inc., a leading developer of affordable apartment communities, is pleased to announce that its newest community – The Spire – located in Alexandria, Virginia, will start welcoming new residents on April 1st, 2021. Now open for applications, the apartment complex will offer 113 units. Rent packages range from 40 to 60 percent of the area median income, which will contribute to easing the area s affordable housing crunch.
The Spire started in 2014 when the Episcopal Church of the Resurrection (ECR) decided to redevelop their property with an affordable housing complex and a smaller worship space. The church s congregation approved the project with a near unanimous vote.