Low Income Housing Tax Credits & Sustainable Development in Virginia, 2018

 

Virginia's 2018 Qualified Allocation Plan gives points for sustainable, and energy efficient practices

 

3rd party green building

Virginia’s 2018 QAP Provides the following incentives for obtaining a 3rd party green building certification: Any development for which the applicant agrees to obtain either (i) EarthCraft certification or (ii) US Green Building Council LEED green-building certification prior to the issuance of an IRS Form 8609 with the proposed development’s architect certifying in the application that the development’s design will meet the criteria for such certification, provided that the proposed development’s architect is on the Authority’s list of LEED/EarthCraft certified architects. (15 points for a LEED Silver development or EarthCraft certified development; 35 points for a LEED Gold development or EarthCraft Gold development; 45 points for a LEED Platinum development; and an additional 10 points for an EarthCraft certified development or EarthCraft Gold development that performs tenant utility monitoring and benchmarking.) The executive director may, if needed, designate a proposed development as requiring an increase in 16 credit in order to be financially feasible and such development shall be treated as if in a difficult development area as provided in the IRC for any applicant receiving 25 or 45 points under this subdivision, provided however, any resulting increase in such development’s eligible basis shall be limited to 5% of the development’s eligible basis for 25 points awarded under this subdivision and 10% for 45 points awarded under this subdivision of the development’s eligible basis.

Solar incentives

Virginia’s 2018 QAP awards 5 points for any solar thermal system that meets at least 60% of the development’s domestic hot water load. (5 points)

Water Conservation

 

The 2018 Virginia QAP awards 2 points for developments that include only WaterSense labeled faucets and showerheads in their units, and 2 points If each bathroom is equipped with a WaterSense labeled toilet.

 

 
Contributed By: 
National Housing Trust

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