Asset management and monitoring
As part of its ongoing obligations under its bond issuances, VHFA monitors housing projects for:
- Long-term financial viability
- Property maintenance
- Program compliance
- Preservation of market value
- Long-term — if not perpetual — affordability
HAP contract administration
VHFA's monitoring responsibilities include direct HUD HAP Contract Administration for Section 8 rental subsidy payments. VHFA also shares HAP Contract Administration for some units with the Vermont State Housing Authority.
Tax Credit monitoring
VHFA takes the lead role in projects where VHFA is the primary lender or responsible for tax credit compliance monitoring.
Preservation agreements
VHFA has also played an active role in negotiating Preservation Agreements with many property owners to preserve and/or extend affordability or transfer these properties into long-term perpetually affordable ownership structures.
This has been accomplished by new loans, debt restructuring, housing credits and by the reinvestment of VHFA earnings in long term deferred loans which are used to improve cash flows, rehabilitate projects, and/or to facilitate transfers of projects to assure permanent affordability.
