Vermont Adopts Market Study Standards for Tax Credit Projects

摘要

The Vermont Housing Finance Agency (VHFA) has issued market study standards for low-income housing tax credit projects that take effect August 1. Under the new standards, projects will have to follow a prescribed format and address specific issues, which should give VHFA comparable information on how well projects meet market demand, according to Joe Erdelyi, a VHFA senior development officer in the tax credit program. However, VHFA is waiving some requirements depending on the project type. VHFA based its market study criteria on National Council of Affordable Housing Market Analysts (NCAHMA) recommended guidelines. "That was the basic starting point, and we went from there to tailor them to our state's needs," Erdelyi said. VHFA is still reviewing comments from developers and other tax credit industry members and may make some changes to the standards before they go into effect, he added.