The recently enacted Federal Housing and Economic Recovery Act of 2008 (HR 3221) contains a number of reforms, including changes that will affect the Housing Credit program.
VHFA has proposed additional changes to Vermont's Qualified Allocation Plan (QAP), not initiated by this legislation but based on other policy changes, feedback, and program experience.
These changes pertain to:
- The definition of "blight";
- The mixed-income threshold;
- Permanent supportive housing; and
- Homeownership tax credit
We've placed several documents explaining these proposals on our Web site.