Three VHFA staff members will be honored during the Housing Credit Conference coming to Chicago, Ill.
National Equity Fund Inc. (NEF) and the National Council of State Housing Agencies (NCSHA) will recognize those who've worked in the field of Housing Tax Credits for 15 or more years.
Here at VHFA, three staffers fit that bill (from top): Director of Development Joe Erdelyi, Director of Multifamily Programs Sam Falzone, and Assistant Director of Multifamily Programs Kim Roy.
Joe and Sam have worked in the program since its inception in 1987. Kim started just a few years later, in 1991.
Created under the Tax Reform Act of 1986, the Low Income Housing Tax Credit (LIHTC) program gives incentives for the utilization of private equity in the development of affordable housing for low-income residents.
The program accounts for approximately 90% of all affordable rental housing created in the United States.