{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/36-55.34_1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/36-55.34_1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/36-55.34_1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/36-55.34_1.html"}],"law_id":58416,"edition_id":1,"section_id":58416,"structure_id":13116,"section_number":"36-55.34:1","catch_line":"Power to supervise housing sponsors","history":"1975, c. 536; 1987, c. 164; 1991, c. 447; 2004, c. 187.","full_text":"Subject to such limitations and conditions as may be agreed to by HDA, HDA shall have the power to supervise a housing sponsor and its real and personal property, at all times during which an HDA mortgage loan to such housing sponsor is outstanding and thereafter as necessary to preserve the federal tax exemption of the notes or bonds issued by HDA to finance such HDA mortgage loan, in the following respects:\n\n1\n\nThrough its agents or employees, HDA may enter upon and inspect the housing development or residential housing and any nonhousing buildings, including all parts thereof, financed by such HDA mortgage loan, for the purpose of investigating the physical and financial condition thereof, and its construction, rehabilitation, operation, management and maintenance, and may examine all books and records with respect to capitalization, income, expenditures and other matters relating thereto;2\n\nHDA may supervise the operation and maintenance of the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan and may order such alterations, changes or repairs as HDA may deem to be necessary to protect the security of its investment, the public interest, or the health, safety or welfare of the occupants of such housing development or residential housing and any nonhousing buildings;3\n\nHDA may order such housing sponsor, or the management agent or other parties related to the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan, to perform such actions as may be necessary to comply with the provisions of all applicable laws or ordinances, HDA’s rules and regulations or the terms of any agreement concerning such housing development or residential housing and any nonhousing buildings, or to refrain from doing any acts in violation thereof; and in this regard HDA shall be a proper party to file a complaint and to prosecute thereon for any violations of laws or ordinances as set forth herein;4\n\nHDA may prescribe uniform systems of accounts and records for housing sponsors and may require such housing sponsors to make reports, make certifications as to expenditures and give answers to specific questions on such forms and at such times as HDA may deem to be necessary for the purposes of this chapter;5\n\nHDA may establish and alter from time to time a schedule of rents and charges for the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan, and HDA may establish standards for, and may monitor and regulate, tenant or occupant selection by such housing sponsor;6\n\nHDA may require such housing sponsor to pay to HDA such fees and charges as it may prescribe in connection with the examination, inspection, supervision, auditing or other regulation of the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan or of such housing sponsor;7\n\nIn its rules and regulations HDA shall specify the categories of cost which shall be allowable in the construction, rehabilitation, preservation or improvement of a housing development or residential housing and any nonhousing buildings, and HDA shall require such housing sponsor to certify the actual housing development costs upon completion of the housing development or residential housing and any nonhousing buildings, subject to audit and determination by HDA, or shall require such housing sponsor to provide such other assurances of such housing development costs as HDA shall deem necessary to enable HDA to determine with reasonable accuracy the actual amount of such housing development costs; and8\n\nThe provisions of any agreements which provide for the regulation and supervision by HDA of any housing development or residential housing and any nonhousing buildings shall, when duly recorded among the land records of the jurisdiction or jurisdictions in which the housing development or residential housing and any nonhousing buildings are located, run with the land and be binding on the successors and assigns of the owner thereof until released of record by HDA.","order_by":null,"text":{"0":{"id":213904,"text":"Subject to such limitations and conditions as may be agreed to by HDA, HDA shall have the power to supervise a housing sponsor and its real and personal property, at all times during which an HDA mortgage loan to such housing sponsor is outstanding and thereafter as necessary to preserve the federal tax exemption of the notes or bonds issued by HDA to finance such HDA mortgage loan, in the following respects:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":213905,"text":"Through its agents or employees, HDA may enter upon and inspect the housing development or residential housing and any nonhousing buildings, including all parts thereof, financed by such HDA mortgage loan, for the purpose of investigating the physical and financial condition thereof, and its construction, rehabilitation, operation, management and maintenance, and may examine all books and records with respect to capitalization, income, expenditures and other matters relating thereto;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":213906,"text":"HDA may supervise the operation and maintenance of the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan and may order such alterations, changes or repairs as HDA may deem to be necessary to protect the security of its investment, the public interest, or the health, safety or welfare of the occupants of such housing development or residential housing and any nonhousing buildings;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":213907,"text":"HDA may order such housing sponsor, or the management agent or other parties related to the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan, to perform such actions as may be necessary to comply with the provisions of all applicable laws or ordinances, HDA’s rules and regulations or the terms of any agreement concerning such housing development or residential housing and any nonhousing buildings, or to refrain from doing any acts in violation thereof; and in this regard HDA shall be a proper party to file a complaint and to prosecute thereon for any violations of laws or ordinances as set forth herein;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":213908,"text":"HDA may prescribe uniform systems of accounts and records for housing sponsors and may require such housing sponsors to make reports, make certifications as to expenditures and give answers to specific questions on such forms and at such times as HDA may deem to be necessary for the purposes of this chapter;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":213909,"text":"HDA may establish and alter from time to time a schedule of rents and charges for the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan, and HDA may establish standards for, and may monitor and regulate, tenant or occupant selection by such housing sponsor;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":213910,"text":"HDA may require such housing sponsor to pay to HDA such fees and charges as it may prescribe in connection with the examination, inspection, supervision, auditing or other regulation of the housing development or residential housing and any nonhousing buildings financed by such HDA mortgage loan or of such housing sponsor;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":213911,"text":"In its rules and regulations HDA shall specify the categories of cost which shall be allowable in the construction, rehabilitation, preservation or improvement of a housing development or residential housing and any nonhousing buildings, and HDA shall require such housing sponsor to certify the actual housing development costs upon completion of the housing development or residential housing and any nonhousing buildings, subject to audit and determination by HDA, or shall require such housing sponsor to provide such other assurances of such housing development costs as HDA shall deem necessary to enable HDA to determine with reasonable accuracy the actual amount of such housing development costs; and","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":213912,"text":"The provisions of any agreements which provide for the regulation and supervision by HDA of any housing development or residential housing and any nonhousing buildings shall, when duly recorded among the land records of the jurisdiction or jurisdictions in which the housing development or residential housing and any nonhousing buildings are located, run with the land and be binding on the successors and assigns of the owner thereof until released of record by HDA.","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7"}},"ancestry":[{"id":13116,"edition_id":1,"name":"Virginia Housing Development Authority Act","identifier":"1.2","label":"chapter","depth":2,"order_by":1,"parent_id":12779,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":208615,"object_type":"structure","relational_id":13116,"identifier":"1.2","token":"36\/1.2","url":"\/36\/1.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12779,"edition_id":1,"name":"Housing","identifier":"36","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":208257,"object_type":"structure","relational_id":12779,"identifier":"36","token":"36","url":"\/36\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":54925,"structure_id":13116,"section_number":"36-55.24","catch_line":"Short title","url":"\/36-55.24\/","token":"36\/1.2\/36-55.24","metadata":false},{"id":67716,"structure_id":13116,"section_number":"36-55.25","catch_line":"Finding and declaration of necessity","url":"\/36-55.25\/","token":"36\/1.2\/36-55.25","metadata":false},{"id":70563,"structure_id":13116,"section_number":"36-55.26","catch_line":"Definitions","url":"\/36-55.26\/","token":"36\/1.2\/36-55.26","metadata":false},{"id":57123,"structure_id":13116,"section_number":"36-55.27","catch_line":"Virginia Housing Development Authority continued; constituted a public instrumentality","url":"\/36-55.27\/","token":"36\/1.2\/36-55.27","metadata":false},{"id":56888,"structure_id":13116,"section_number":"36-55.27:1","catch_line":"Programs and regulations to implement the Consolidated Plan","url":"\/36-55.27_1\/","token":"36\/1.2\/36-55.27_1","metadata":false},{"id":71487,"structure_id":13116,"section_number":"36-55.28","catch_line":"Appointment and tenure of commissioners; officers; quorum; compensation; liability","url":"\/36-55.28\/","token":"36\/1.2\/36-55.28","metadata":false},{"id":55520,"structure_id":13116,"section_number":"36-55.29","catch_line":"Executive director","url":"\/36-55.29\/","token":"36\/1.2\/36-55.29","metadata":false},{"id":76665,"structure_id":13116,"section_number":"36-55.30","catch_line":"Powers of HDA generally","url":"\/36-55.30\/","token":"36\/1.2\/36-55.30","metadata":false},{"id":75266,"structure_id":13116,"section_number":"36-55.30:1","catch_line":"Repealed","url":"\/36-55.30_1\/","token":"36\/1.2\/36-55.30_1","metadata":false},{"id":54150,"structure_id":13116,"section_number":"36-55.30:2","catch_line":"Housing revitalization areas; economically mixed projects","url":"\/36-55.30_2\/","token":"36\/1.2\/36-55.30_2","metadata":false},{"id":62068,"structure_id":13116,"section_number":"36-55.30:3","catch_line":"Regulations; adoption procedures","url":"\/36-55.30_3\/","token":"36\/1.2\/36-55.30_3","metadata":false},{"id":63704,"structure_id":13116,"section_number":"36-55.31","catch_line":"Powers relative to making mortgage loans and temporary construction loans to housing sponsors and persons and families of low and moderate income","url":"\/36-55.31\/","token":"36\/1.2\/36-55.31","metadata":false},{"id":79161,"structure_id":13116,"section_number":"36-55.31:1","catch_line":"Loans for installation of certain energy-saving devices","url":"\/36-55.31_1\/","token":"36\/1.2\/36-55.31_1","metadata":false},{"id":76634,"structure_id":13116,"section_number":"36-55.32","catch_line":"Powers relative to purchase and sale to mortgage lenders of mortgage loans; loans to mortgage lenders","url":"\/36-55.32\/","token":"36\/1.2\/36-55.32","metadata":false},{"id":70770,"structure_id":13116,"section_number":"36-55.33","catch_line":"Repealed","url":"\/36-55.33\/","token":"36\/1.2\/36-55.33","metadata":false},{"id":85938,"structure_id":13116,"section_number":"36-55.33:1","catch_line":"Mortgage loan terms and conditions","url":"\/36-55.33_1\/","token":"36\/1.2\/36-55.33_1","metadata":false},{"id":64397,"structure_id":13116,"section_number":"36-55.33:2","catch_line":"Powers relative to acquisition, development and ownership by HDA of multi-family residential housing","url":"\/36-55.33_2\/","token":"36\/1.2\/36-55.33_2","metadata":false},{"id":77047,"structure_id":13116,"section_number":"36-55.34","catch_line":"Repealed","url":"\/36-55.34\/","token":"36\/1.2\/36-55.34","metadata":false},{"id":58416,"structure_id":13116,"section_number":"36-55.34:1","catch_line":"Power to supervise housing sponsors","url":"\/36-55.34_1\/","token":"36\/1.2\/36-55.34_1","metadata":false},{"id":61595,"structure_id":13116,"section_number":"36-55.34:2","catch_line":"Power to enter into agreements with owners of housing developments eligible for federal low-income housing credits","url":"\/36-55.34_2\/","token":"36\/1.2\/36-55.34_2","metadata":false},{"id":63859,"structure_id":13116,"section_number":"36-55.35","catch_line":"Terms and conditions of purchase from and sale to mortgage lenders of mortgage loans; loans to mortgage lenders","url":"\/36-55.35\/","token":"36\/1.2\/36-55.35","metadata":false},{"id":76002,"structure_id":13116,"section_number":"36-55.36","catch_line":"Terms and conditions of mortgage insurance","url":"\/36-55.36\/","token":"36\/1.2\/36-55.36","metadata":false},{"id":58720,"structure_id":13116,"section_number":"36-55.36:1","catch_line":"Power to create insurance funds and form corporations for the purpose of insuring HDA mortgage loans","url":"\/36-55.36_1\/","token":"36\/1.2\/36-55.36_1","metadata":false},{"id":76281,"structure_id":13116,"section_number":"36-55.37","catch_line":"Exemption from taxation","url":"\/36-55.37\/","token":"36\/1.2\/36-55.37","metadata":false},{"id":70238,"structure_id":13116,"section_number":"36-55.37:1","catch_line":"Repealed","url":"\/36-55.37_1\/","token":"36\/1.2\/36-55.37_1","metadata":false},{"id":73470,"structure_id":13116,"section_number":"36-55.38","catch_line":"Admission and income limitations relative to housing developments","url":"\/36-55.38\/","token":"36\/1.2\/36-55.38","metadata":false},{"id":70596,"structure_id":13116,"section_number":"36-55.39","catch_line":"Procedure prior to financing of housing developments undertaken by housing sponsors","url":"\/36-55.39\/","token":"36\/1.2\/36-55.39","metadata":false},{"id":59570,"structure_id":13116,"section_number":"36-55.40","catch_line":"Notes and bonds","url":"\/36-55.40\/","token":"36\/1.2\/36-55.40","metadata":false},{"id":60236,"structure_id":13116,"section_number":"36-55.41","catch_line":"Reserve funds and appropriations","url":"\/36-55.41\/","token":"36\/1.2\/36-55.41","metadata":false},{"id":73160,"structure_id":13116,"section_number":"36-55.42","catch_line":"Refunding obligations; issuance","url":"\/36-55.42\/","token":"36\/1.2\/36-55.42","metadata":false},{"id":87248,"structure_id":13116,"section_number":"36-55.43","catch_line":"Same; sale","url":"\/36-55.43\/","token":"36\/1.2\/36-55.43","metadata":false},{"id":55926,"structure_id":13116,"section_number":"36-55.44","catch_line":"Deposit and investment of moneys of HDA","url":"\/36-55.44\/","token":"36\/1.2\/36-55.44","metadata":false},{"id":85356,"structure_id":13116,"section_number":"36-55.44:1","catch_line":"Swap agreements by HDA authorized","url":"\/36-55.44_1\/","token":"36\/1.2\/36-55.44_1","metadata":false},{"id":87234,"structure_id":13116,"section_number":"36-55.45","catch_line":"Agreement with Commonwealth","url":"\/36-55.45\/","token":"36\/1.2\/36-55.45","metadata":false},{"id":64957,"structure_id":13116,"section_number":"36-55.46","catch_line":"Commonwealth not liable on notes and bonds","url":"\/36-55.46\/","token":"36\/1.2\/36-55.46","metadata":false},{"id":78753,"structure_id":13116,"section_number":"36-55.47","catch_line":"Remedies of noteholders and bondholders","url":"\/36-55.47\/","token":"36\/1.2\/36-55.47","metadata":false},{"id":72915,"structure_id":13116,"section_number":"36-55.48","catch_line":"Grants from Commonwealth","url":"\/36-55.48\/","token":"36\/1.2\/36-55.48","metadata":false},{"id":65639,"structure_id":13116,"section_number":"36-55.49","catch_line":"Notes and bonds as legal investments","url":"\/36-55.49\/","token":"36\/1.2\/36-55.49","metadata":false},{"id":67775,"structure_id":13116,"section_number":"36-55.50","catch_line":"Liberal construction","url":"\/36-55.50\/","token":"36\/1.2\/36-55.50","metadata":false},{"id":71544,"structure_id":13116,"section_number":"36-55.51","catch_line":"Reports","url":"\/36-55.51\/","token":"36\/1.2\/36-55.51","metadata":false},{"id":70076,"structure_id":13116,"section_number":"36-55.51:1","catch_line":"Annual audit","url":"\/36-55.51_1\/","token":"36\/1.2\/36-55.51_1","metadata":false},{"id":81339,"structure_id":13116,"section_number":"36-55.52","catch_line":"Inconsistent provisions in other laws superseded","url":"\/36-55.52\/","token":"36\/1.2\/36-55.52","metadata":false}],"previous_section":{"id":77047,"structure_id":13116,"section_number":"36-55.34","catch_line":"Repealed","url":"\/36-55.34\/","token":"36\/1.2\/36-55.34","metadata":false},"next_section":{"id":61595,"structure_id":13116,"section_number":"36-55.34:2","catch_line":"Power to enter into agreements with owners of housing developments eligible for federal low-income housing credits","url":"\/36-55.34_2\/","token":"36\/1.2\/36-55.34_2","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/36-55.34:1\/","history_text":"

This law was first created in 1975. The record of its establishment is cataloged in chapter 536 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1975 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1987, chapter 164; in 1991, chapter 447; in 2004, chapter 187<\/a>.<\/p>","references":[{"id":85938,"section_number":"36-55.33:1","catch_line":"Mortgage loan terms and conditions","order_by":null,"url":"\/36-55.33_1\/"},{"id":70596,"section_number":"36-55.39","catch_line":"Procedure prior to financing of housing developments undertaken by housing sponsors","order_by":null,"url":"\/36-55.39\/"}],"refers_to":false,"permalink":{"id":208689,"object_type":"law","relational_id":58416,"identifier":"36-55.34:1","token":"36\/1.2\/36-55.34_1","url":"\/36-55.34_1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/36-55.34_1\/","token":"36\/1.2\/36-55.34_1","dublin_core":{"Title":"Power to supervise housing sponsors","Type":"Text","Format":"text\/html","Identifier":"\u00a7 36-55.34:1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Subject to such limitations and conditions as may be agreed to by HDA<\/span>, HDA<\/span> shall have the power to supervise a housing sponsor<\/span> and its real and personal property, at all times during which an HDA<\/span> mortgage loan<\/span> to such housing sponsor<\/span> is outstanding and thereafter as necessary to preserve the federal tax exemption of the notes or bonds<\/span> issued by HDA<\/span> to finance such HDA<\/span> mortgage loan<\/span>, in the following respects:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Through its agents or employees, HDA<\/span> may enter upon and inspect the housing development<\/span> or residential housing<\/span> and any nonhousing buildings<\/span>, including all parts thereof, financed by such HDA<\/span> mortgage loan<\/span>, for the purpose of investigating the physical and financial condition thereof, and its construction, rehabilitation, operation, management and maintenance, and may examine all books and records with respect to capitalization, income, expenditures and other matters relating thereto; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> HDA<\/span> may supervise the operation and maintenance of the housing development<\/span> or residential housing<\/span> and any nonhousing buildings<\/span> financed by such HDA<\/span> mortgage loan<\/span> and may order<\/span> such alterations, changes or repairs as HDA<\/span> may deem to be necessary to protect the security of its investment, the public interest, or the health, safety or welfare of the occupants of such housing development<\/span> or residential housing<\/span> and any nonhousing buildings<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> HDA<\/span> may order<\/span> such housing sponsor<\/span>, or the management agent or other parties related to the housing development<\/span> or residential housing<\/span> and any nonhousing buildings<\/span> financed by such HDA<\/span> mortgage loan<\/span>, to perform such actions as may be necessary to comply with the provisions of all applicable laws<\/span> or ordinances<\/span>, HDA<\/span>’s rules and regulations or the terms of any agreement concerning such housing development<\/span> or residential housing<\/span> and any nonhousing buildings<\/span>, or to refrain from doing any acts in violation thereof; and in this regard HDA<\/span> shall be a proper party<\/span> to file a complaint and to prosecute<\/span> thereon for any violations of laws<\/span> or ordinances<\/span> as set forth herein; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> HDA<\/span> may prescribe uniform systems of accounts and records for housing sponsors<\/span> and may require such housing sponsors<\/span> to make reports, make certifications as to expenditures and give answers to specific questions on such forms and at such times as HDA<\/span> may deem to be necessary for the purposes of this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> HDA<\/span> may establish and alter from time to time a schedule of rents and charges for the housing development<\/span> or residential housing<\/span> and any nonhousing buildings<\/span> financed by such HDA<\/span> mortgage loan<\/span>, and HDA<\/span> may establish standards for, and may monitor and regulate, tenant or occupant selection by such housing sponsor<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> HDA<\/span> may require such housing sponsor<\/span> to pay to HDA<\/span> such fees and charges as it may prescribe in connection with the examination, inspection, supervision, auditing or other regulation of the housing development<\/span> or residential housing<\/span> and any nonhousing buildings<\/span> financed by such HDA<\/span> mortgage loan<\/span> or of such housing sponsor<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> In its rules and regulations HDA<\/span> shall specify the categories of cost which shall be allowable in the construction, rehabilitation, preservation or improvement of a housing development or residential housing<\/span> and any nonhousing buildings<\/span>, and HDA<\/span> shall require such housing sponsor<\/span> to certify the actual housing development costs<\/span> upon completion of the housing development or residential housing<\/span> and any nonhousing buildings<\/span>, subject to audit and determination by HDA<\/span>, or shall require such housing sponsor<\/span> to provide such other assurances of such housing development costs<\/span> as HDA<\/span> shall deem necessary to enable HDA<\/span> to determine with reasonable accuracy the actual amount of such housing development costs<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> The provisions of any agreements which provide for the regulation and supervision by HDA<\/span> of any housing development or residential housing<\/span> and any nonhousing buildings<\/span> shall, when duly recorded among the land records of the jurisdiction<\/span> or jurisdictions<\/span> in which the housing development or residential housing<\/span> and any nonhousing buildings<\/span> are located, run with the land and be binding on the successors and assigns of the owner thereof until released of record by HDA<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWER TO SUPERVISE HOUSING SPONSORS (\u00a7 36-55.34:1)\n\nSubject to such limitations and conditions as may be agreed to by HDA, HDA shall\nhave the power to supervise a housing sponsor and its real and personal\nproperty, at all times during which an HDA mortgage loan to such housing sponsor\nis outstanding and thereafter as necessary to preserve the federal tax exemption\nof the notes or bonds issued by HDA to finance such HDA mortgage loan, in the\nfollowing respects:\n\n1. Through its agents or employees, HDA may enter upon and inspect the housing\ndevelopment or residential housing and any nonhousing buildings, including all\nparts thereof, financed by such HDA mortgage loan, for the purpose of\ninvestigating the physical and financial condition thereof, and its\nconstruction, rehabilitation, operation, management and maintenance, and may\nexamine all books and records with respect to capitalization, income,\nexpenditures and other matters relating thereto;\n\n2. HDA may supervise the operation and maintenance of the housing development or\nresidential housing and any nonhousing buildings financed by such HDA mortgage\nloan and may order such alterations, changes or repairs as HDA may deem to be\nnecessary to protect the security of its investment, the public interest, or the\nhealth, safety or welfare of the occupants of such housing development or\nresidential housing and any nonhousing buildings;\n\n3. HDA may order such housing sponsor, or the management agent or other parties\nrelated to the housing development or residential housing and any nonhousing\nbuildings financed by such HDA mortgage loan, to perform such actions as may be\nnecessary to comply with the provisions of all applicable laws or ordinances,\nHDA’s rules and regulations or the terms of any agreement concerning such\nhousing development or residential housing and any nonhousing buildings, or to\nrefrain from doing any acts in violation thereof; and in this regard HDA shall\nbe a proper party to file a complaint and to prosecute thereon for any\nviolations of laws or ordinances as set forth herein;\n\n4. HDA may prescribe uniform systems of accounts and records for housing\nsponsors and may require such housing sponsors to make reports, make\ncertifications as to expenditures and give answers to specific questions on such\nforms and at such times as HDA may deem to be necessary for the purposes of this\nchapter;\n\n5. HDA may establish and alter from time to time a schedule of rents and charges\nfor the housing development or residential housing and any nonhousing buildings\nfinanced by such HDA mortgage loan, and HDA may establish standards for, and may\nmonitor and regulate, tenant or occupant selection by such housing sponsor;\n\n6. HDA may require such housing sponsor to pay to HDA such fees and charges as\nit may prescribe in connection with the examination, inspection, supervision,\nauditing or other regulation of the housing development or residential housing\nand any nonhousing buildings financed by such HDA mortgage loan or of such\nhousing sponsor;\n\n7. In its rules and regulations HDA shall specify the categories of cost which\nshall be allowable in the construction, rehabilitation, preservation or\nimprovement of a housing development or residential housing and any nonhousing\nbuildings, and HDA shall require such housing sponsor to certify the actual\nhousing development costs upon completion of the housing development or\nresidential housing and any nonhousing buildings, subject to audit and\ndetermination by HDA, or shall require such housing sponsor to provide such\nother assurances of such housing development costs as HDA shall deem necessary\nto enable HDA to determine with reasonable accuracy the actual amount of such\nhousing development costs; and\n\n8. The provisions of any agreements which provide for the regulation and\nsupervision by HDA of any housing development or residential housing and any\nnonhousing buildings shall, when duly recorded among the land records of the\njurisdiction or jurisdictions in which the housing development or residential\nhousing and any nonhousing buildings are located, run with the land and be\nbinding on the successors and assigns of the owner thereof until released of\nrecord by HDA.\n\nHISTORY: 1975, c. 536; 1987, c. 164; 1991, c. 447; 2004, c. 187.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}