Qualified Allocation Plan (QAP)

As administrator of the Housing Tax Credit program, Vermont Housing Finance Agency allocates credits to specific projects in accordance with Vermont's Qualified Allocation Plan (QAP), which is approved and signed by the Governor. The advisory Joint Committee on Tax Credits reviews and adopts allocation policies and reviews VHFA's performance.

2024-2025 Qualified Allocation Plan

The 2024-2025 Qualified Allocation Plan (QAP) applies to projects seeking Housing Tax Credits beginning October 1, 2023. The 2024-2025 QAP was approved by the VHFA Board of Commissioners in February 2023, and by the Governor of the State of Vermont in May 2023. VHFA will continue to use this QAP through the end of 2026.

If you have questions or concerns, you may contact Development staff via email at [email protected] or by mail at 164 Saint Paul Street, Burlington VT 05402.

2027-2028 Qualified Allocation Plan

VHFA is currently in the process of developing the next Qualified Allocation Plan. VHFA will continue to use the current QAP through the end of 2026. VHFA will continue to work on the QAP update that was started in June 2024, with the goal of having a new 2027-2028 QAP approved by the beginning of 2026. This target timing is so that potential applicants will be able to plan a year in advance of the new QAP taking effect for housing tax credit application rounds starting in January 2027.

Please see the following documents for information about the draft of the QAP:

The timeline for the QAP update is as follows (updated May 27, 2025):

  • June 4, 2024: VHFA opens initial comment period.
  • July and August 2024: VHFA holds public comment meetings.
  • August 13, 2024: VHFA closes the initial comment period at 4:30 pm.
  • Summer and Fall 2024: VHFA reviews comments and drafts 2026-2027 QAP.
  • November 4, 2024: VHFA presents recommendations to the Joint Committee on Tax Credits.
  • November 5, 2024: VHFA releases first draft of 2026-2027 QAP, and opens second public comment period.
  • November 21, 2024: VHFA holds public comment meeting.
  • December 6, 2024: VHFA closes the second public comment period at 4:30 pm.
  • January 27, 2025: VHFA releases second draft of 2026-2027 QAP, and opens third public comment period.
  • February 6, 2025: VHFA holds virtual public comment meeting: Thursday, Feb. 6th, 1:00-3:00 pm.
  • February 10, 2025: VHFA hosts meeting with the Joint Committee on Tax Credits: Monday, February 10, 1:00-4:00 pm.
  • February 28, 2025: VHFA closes the third public comment period at 4:30 pm.
  • May 27, 2025: VHFA announces decision to keep current QAP in place through 2026, while continuing to work on QAP update.
  • Early 2026: Target timing for approval of a new 2027-2028 QAP.

Comments from initial comment period, June-August 2024:

  • Verbal comments (PDF): This document summarizes verbal comments that VHFA received at five public comment meetings around the state in July and August 2024.
  • Written comments (PDF): This document compiles written comments that VHFA received during the QAP initial comment period, June 4-August 13, 2024.
  • VHFA response to written comments (PDF): This document contains VHFA responses to written comments received during the QAP initial comment period.

For more information about the QAP update, please see:

 

Archive of previous Qualified Allocation Plans: