Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 13. Housing
Agency 10. Virginia Housing Development Authority
Chapter 80. Rules and Regulations for Section 8 Moderate Rehabilitation and Project-Based Certificate Assistance Programs

13VAC10-80-80. Sources of financing for rehabilitation and new construction.

Property owners participating in the program may obtain financing for rehabilitation or construction expenses from a number of sources, including the following:

1. Owners may pay for property improvements using personal savings, personal credit cards or store accounts.

2. Owners may obtain financing from any commercial lending institution, including commercial banks, savings and loan associations, and credit unions.

3. Owners participating in the program may also qualify for rehabilitation or construction financing made available through the redevelopment and housing authority, housing agency and/or industrial development authority.

4. The authority may from time to time make financing available for the rehabilitation or construction. In the case of such financing, the application for such financing shall be processed, the improvements shall be completed, and the rehabilitated or constructed unit shall be owned, operated and managed, all in accordance with the authority's rules and regulations for multi-family housing developments, to the extent required by the authority consistent with the section 8 rules and regulations.

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.

Historical Notes

Derived from VR400-02-0007 § 8, eff. July 1, 1989; amended, Virginia Register Volume 11, Issue 17, eff. May 1, 1995.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.