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Virginia Housing briefs subcommittee on financing tools, production goals and innovation
Summary
Virginia Housing officials described agency programs, financing mechanisms and priorities — including bond issuance, tax credits, down‑payment assistance, rental lending, innovation grants for modular and 3D printing construction, and efforts to preserve manufactured‑home communities.
Virginia Housing officials briefed the Appropriations Subcommittee on Commerce, Agriculture and Natural Resources on the agency’s mission, financing tools and program priorities.
Fred Bryant, chief counsel to Virginia Housing, said the authority’s mission is "to help Virginians attain quality affordable housing." He described Virginia Housing’s legal status as the Virginia Housing Development Authority (created under the Virginia Housing Development Authority Act of 1972), an independent political subdivision that raises funds primarily through bond issuance and loan securitization rather than state appropriations. Bryant said Virginia Housing receives 43% of the state’s private-activity bond cap each year and that the authority maintains strong credit ratings (AA+ / Aa1). He added that Virginia Housing’s bonds are not part of the Commonwealth’s debt capacity and that the Commonwealth holds no legal or moral obligation for those bonds.
Bryant and…
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