In accordance with its statutory mandate to promote sustainable long-term affordable rental housing, DHCD has completed two rounds of application reviews in calendar year 2026 for tax-exempt bond financing authority that local housing authorities will exercise in the Commonwealth.
As of June 15, 2026 --
- DHCD has allocated more than $165 million from the LHA pool to 13 projects in 9 localities that will finance the construction, rehabilitation, and preservation of 1,721 units of long-term affordable housing.
- The Governor has used her discretionary authority to make additional tax-exempt financing allocations for local affordable projects of more than $128.6 million that will finance the construction, rehabilitation, and preservation of 1,384 units of long-term affordable housing.
On a rolling basis, DHCD will continue to process applications for the remaining allocation amounts in the LHA Pool and for potential recommendation to the Governor for the Governor’s Discretionary Pool. Any unused funds from the LHA Pool and the Governor’s Pool will be transferred in December 2026 to Virginia Housing for its carryforward balance for future allocation for private activity bond tax-exempt financing, as per the Code of Virginia.
