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2023 SESSION

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HB 2048 Economically mixed projects; VHDA financial projects.

Introduced by: Betsy B. Carr | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Housing Development Authority; economically mixed projects; affordable rent for persons or families of low or moderate income. Provides that in any economically mixed project financed through the Virginia Housing Development Authority, at least 20 percent of the units must be held available for occupancy by persons and families earning 80 percent or less of the area median income, and the rent charged for such units shall be at least 10 percent below the rents of unrestricted units in the project. Economically mixed projects located in a locality with a population no greater than 35,000 as determined by the most recent U.S. census shall not be required to limit the rent charged for such units to at least 10 percent below the rents of unrestricted units in the project.


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