                                 CODE OF VIRGINIA

PROCEDURE PRIOR TO FINANCING OF HOUSING DEVELOPMENTS UNDERTAKEN BY HOUSING
SPONSORS (§ 36-55.39)

A. Notwithstanding any other provision of this chapter, HDA is not empowered to
finance any housing development undertaken by a housing sponsor pursuant to §§
36-55.31, 36-55.33:1 and 36-55.34:1 of this chapter unless, prior to the
financing of any housing development hereunder, the commissioners or the
executive director of HDA find:

   1. That there exists a shortage of decent, safe and sanitary housing at
   rentals or prices which persons and families of low income or moderate income
   can afford within the general housing market area to be served by the proposed
   housing development.

   2. That private enterprise and investment have been unable, without
   assistance, to provide the needed decent, safe and sanitary housing at rentals
   or prices which persons or families of low and moderate income can afford or
   to provide sufficient mortgage financing for residential housing for occupancy
   by such persons or families.

   3. That the housing sponsor or sponsors undertaking the proposed housing
   development in the Commonwealth will supply well-planned, well-designed
   housing for persons or families of low and moderate income and, in the case of
   an economically mixed project, other persons and families and that such
   sponsors are financially responsible.

   4. That the housing development, to be assisted pursuant to the provisions of
   this chapter, will be of public use and will provide a public benefit.

   5. That the housing development will be undertaken within the authority
   conferred by this chapter upon HDA and the housing sponsor or sponsors.

B. The locality, upon written request from the housing sponsor, shall provide a
written staff determination that the proposed development is consistent with
current zoning and other land use regulations in effect at the time of such
request. Failure of the locality to comply with this subsection within 30 days
of the receipt of the written request from the housing sponsor shall be deemed
to be a determination that the proposed development is consistent with current
zoning and other land use regulations. Prior to financing by the HDA, the
housing sponsor shall provide the HDA with (i) a copy of the written staff
determination received from the locality, (ii) a written certification that the
locality failed to respond to the housing sponsor&#8217;s request within 30 days
as provided herein, or (iii) a copy of any building permit issued by the
locality.

HISTORY: 1972, c. 830; 1975, c. 536; 1978, c. 297; 1982, c. 175; 1990, c. 461;
1995, c. 215; 1996, c. 560; 1997, c. 684; 2004, c. 187.