The Virgin Islands Housing Finance Authority (“VIHFA”), the state allocating agency for the Low-Income Housing Tax Credit (LIHTC) Program, hereby gives notice that the Territory’s Calendar Year 2015 Qualified Allocation Plan (the “2015 QAP”) has been approved.
Pursuant to Section 42 (m)(1)(B) of the Internal Revenue Code of 1986, as amended (the “Code”), a Qualified Allocation Plan is a plan which (i) sets forth selection criteria appropriate to local conditions to be used to determine the housing priorities of the local housing credit agency; (ii) gives preference in allocating low income housing tax credits among selected projects meeting specific criteria, and (iii) provides procedures that the housing credit agency will follow in monitoring LIHTC projects for compliance with provisions of Section 42 of the IRS Code.
For further information about the 2015 QAP or the Low Income Housing Tax Credit Program in general, please contact Ms. Janine Hector, Federal Programs Director, at (340) 772-4432. For a copy of the 2015 QAP, go to the About section of this website and look under Reports.
By: Adrienne L. Williams