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) will apply to projects that apply for 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.

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.

2026-2027 Qualified Allocation Plan

VHFA is currently in the process of developing the the 2026-2027 Qualified Allocation Plan. VHFA’s goal is to have the 2026-2027 QAP approved a year in advance of 2026 applications to ensure potential applicants have time to consider any updates in planning 2026 projects.

Please see the following documents for information about the draft 2026-2027 QAP:

The timeline for the 2026-2027 QAP update is as follows:

  • 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 makes draft of 2026-2027 QAP available, 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.
  • Late 2024/early 2025: VHFA revises draft 2026-2027 QAP, and releases final draft.
  • January 2025: Second meeting of Joint Committee on Tax Credits.
  • February 2025: Meeting of VHFA Board of Commissioners. If adopted, the 2026-2027 QAP will be sent to the Governor for approval.

Comments from the 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 2026-2027 QAP update, please see:

 

Archive of previous Qualified Allocation Plans: