Administrative Code

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Virginia Administrative Code
Title 13. Housing
Agency 10. Virginia Housing Development Authority
Chapter 140. Rules and Regulations for the Acquisition of Multi-Family Housing Developments
9/24/2020

13VAC10-140-90. Construction Loan, Permanent Loan and Purchase Price Increases.

The authority may consider and, where appropriate, approve an increase in the purchase price, an increase in the principal amount of the construction loan or an increase in the principal amount of the permanent loan, or both, if determined by the authority to be in its best interest in accomplishing the acquisition or in protecting its security. Nothing contained in this section shall impose any duty or obligation on the authority to increase any purchase price or the principal amount of any construction loan or permanent loan, as the decision as to whether to grant a purchase price, construction loan or permanent loan increase shall be within the sole and absolute description of the authority.

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.

Historical Notes

Derived from VR400-02-0014 § 9, eff. March 16, 1988; amended, Volume 05, Issue 21, eff. July 1, 1989; Volume 08, Issue 06, November 15, 1991; Volume 11, Issue 06, eff. November 16, 1994.

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