{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/36-55.33_2.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/36-55.33_2.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/36-55.33_2.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/36-55.33_2.html"}],"law_id":360744,"edition_id":2,"section_id":360744,"structure_id":51594,"section_number":"36-55.33:2","catch_line":"Powers relative to acquisition, development and ownership by HDA of multi-family residential housing","history":"1987, c. 254; 1991, c. 206; 1996, c. 298.","full_text":"A\n\nHDA shall have all the powers necessary or convenient to purchase, acquire, construct, rehabilitate, own, operate, improve, repair, maintain, encumber, mortgage, lease, sell and transfer or otherwise dispose of multi-family residential housing or any part or interest therein for occupancy by persons and families of low and moderate income. For the purposes of this section, HDA may form corporations, joint ventures, partnerships, trusts or other legal entities or any combination thereof, on its own behalf or in conjunction with individuals or other public or private entities, to serve as housing sponsors for multi-family residential housing developments; may acquire, own, encumber, pledge, sell, transfer or otherwise dispose of interests in such housing sponsors; may provide financing and other funding to such housing sponsors; and may exercise all necessary or convenient rights and powers and perform all requisite duties and obligations relating thereto. HDA shall not exercise the powers granted under this section with respect to any multi-family residential housing development, unless HDA makes the following findings:\n\n1\n\nThat 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.\n\n2\n\nThat 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.\n\n3\n\nThat private sponsors would not be willing, without assistance, to undertake the proposed housing development upon substantially similar terms and conditions.\n\n4\n\nThat HDA has not received notification from both the local housing authority having jurisdiction over the area in which the housing development would be located and the sponsor of such development that it is the preference of both parties that the local housing authority undertake the proposed housing development.\n\n5\n\nThat the proposed housing development will provide well-planned, well-designed housing for persons or families of low and moderate income.\n\n6\n\nThat the housing development will be of public use and will provide a public benefit.\n\n7\n\nThat the housing development will be undertaken within the authority conferred by this chapter upon HDA.\n\nB\n\nHDA shall also find, in connection with the new construction or substantial rehabilitation by HDA of any proposed multi-family residential housing development, that the governing body of the locality in which such housing development is to be located has not, within sixty days after written notification of such proposed construction or substantial rehabilitation has been sent by HDA to such governing body and to any local housing authority having jurisdiction in such locality, certified to HDA in writing its disapproval of the proposed multi-family residential housing development. The foregoing notwithstanding, no such finding need be made if HDA has received from the governing body its certified resolution approving the proposed housing development.\n\nC\n\nAt least sixty days prior to purchasing, acquiring, constructing or rehabilitating any multi-family residential housing development pursuant to this section, HDA shall publish a notice in a newspaper of general circulation in the locality in which such development is to be located. Such notice (i) shall state that HDA intends to purchase, acquire, construct or rehabilitate a multi-family residential housing development or developments in such locality and shall solicit proposals from interested parties for such purchase, acquisition, construction or rehabilitation or (ii) shall identify the multi-family residential housing development or developments to be purchased, acquired, constructed or rehabilitated and shall request comments from the general public with respect to such proposed purchase, acquisition, construction or rehabilitation.\n\nD\n\nIn the event HDA or any legal entity formed by HDA is to construct or rehabilitate a multi-family residential housing development pursuant to this section, HDA or such legal entity shall contract with a private firm for the performance of such construction and rehabilitation, unless HDA determines that no responsible private firm would be willing and able to contract for such construction or rehabilitation at a price necessary for the financial feasibility of such development. HDA or any legal entity formed by HDA shall contract with a private firm or public body for the performance of management services for any multi-family residential housing development owned by HDA or such legal entity pursuant to this section, unless HDA determines that no responsible private firm and no public body would be willing and able to contract for the performance of such management services at a price necessary for the financial feasibility of such development. For the purpose of this subsection, the term “private firm” shall include an individual, joint venture, partnership, stock corporation, trust or other similar business entity legally authorized to perform the construction, rehabilitation or management, as may be applicable, of the proposed multi-family residential housing development.\n\n","order_by":null,"text":{"0":{"id":1342383,"text":"HDA shall have all the powers necessary or convenient to purchase, acquire, construct, rehabilitate, own, operate, improve, repair, maintain, encumber, mortgage, lease, sell and transfer or otherwise dispose of multi-family residential housing or any part or interest therein for occupancy by persons and families of low and moderate income. For the purposes of this section, HDA may form corporations, joint ventures, partnerships, trusts or other legal entities or any combination thereof, on its own behalf or in conjunction with individuals or other public or private entities, to serve as housing sponsors for multi-family residential housing developments; may acquire, own, encumber, pledge, sell, transfer or otherwise dispose of interests in such housing sponsors; may provide financing and other funding to such housing sponsors; and may exercise all necessary or convenient rights and powers and perform all requisite duties and obligations relating thereto. HDA shall not exercise the powers granted under this section with respect to any multi-family residential housing development, unless HDA makes the following findings:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":1342384,"text":"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.","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":1342385,"text":"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.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":1342386,"text":"That private sponsors would not be willing, without assistance, to undertake the proposed housing development upon substantially similar terms and conditions.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":1342387,"text":"That HDA has not received notification from both the local housing authority having jurisdiction over the area in which the housing development would be located and the sponsor of such development that it is the preference of both parties that the local housing authority undertake the proposed housing development.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":1342388,"text":"That the proposed housing development will provide well-planned, well-designed housing for persons or families of low and moderate income.","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":1342389,"text":"That the housing development will be of public use and will provide a public benefit.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":1342390,"text":"That the housing development will be undertaken within the authority conferred by this chapter upon HDA.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"B"},"8":{"id":1342391,"text":"HDA shall also find, in connection with the new construction or substantial rehabilitation by HDA of any proposed multi-family residential housing development, that the governing body of the locality in which such housing development is to be located has not, within sixty days after written notification of such proposed construction or substantial rehabilitation has been sent by HDA to such governing body and to any local housing authority having jurisdiction in such locality, certified to HDA in writing its disapproval of the proposed multi-family residential housing development. The foregoing notwithstanding, no such finding need be made if HDA has received from the governing body its certified resolution approving the proposed housing development.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A7","next_prefix":"C"},"9":{"id":1342392,"text":"At least sixty days prior to purchasing, acquiring, constructing or rehabilitating any multi-family residential housing development pursuant to this section, HDA shall publish a notice in a newspaper of general circulation in the locality in which such development is to be located. Such notice (i) shall state that HDA intends to purchase, acquire, construct or rehabilitate a multi-family residential housing development or developments in such locality and shall solicit proposals from interested parties for such purchase, acquisition, construction or rehabilitation or (ii) shall identify the multi-family residential housing development or developments to be purchased, acquired, constructed or rehabilitated and shall request comments from the general public with respect to such proposed purchase, acquisition, construction or rehabilitation.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"10":{"id":1342393,"text":"In the event HDA or any legal entity formed by HDA is to construct or rehabilitate a multi-family residential housing development pursuant to this section, HDA or such legal entity shall contract with a private firm for the performance of such construction and rehabilitation, unless HDA determines that no responsible private firm would be willing and able to contract for such construction or rehabilitation at a price necessary for the financial feasibility of such development. HDA or any legal entity formed by HDA shall contract with a private firm or public body for the performance of management services for any multi-family residential housing development owned by HDA or such legal entity pursuant to this section, unless HDA determines that no responsible private firm and no public body would be willing and able to contract for the performance of such management services at a price necessary for the financial feasibility of such development. For the purpose of this subsection, the term “private firm” shall include an individual, joint venture, partnership, stock corporation, trust or other similar business entity legally authorized to perform the construction, rehabilitation or management, as may be applicable, of the proposed multi-family residential housing development.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":51594,"edition_id":2,"name":"Virginia Housing Development Authority Act","identifier":"1.2","label":"chapter","depth":2,"order_by":3,"parent_id":51572,"metadata":{"child_laws":42,"child_structures":0},"date_created":"2026-08-02 02:44:38","date_modified":"2026-08-02 12:32:42","permalink":{"id":1435617,"object_type":"structure","relational_id":51594,"identifier":"1.2","token":"36\/1.2","url":"\/36\/1.2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51572,"edition_id":2,"name":"Housing","identifier":"36","label":"title","depth":1,"order_by":83,"parent_id":null,"metadata":{"child_laws":336,"child_structures":35},"date_created":"2026-08-02 02:44:20","date_modified":"2026-08-02 12:32:40","permalink":{"id":1435259,"object_type":"structure","relational_id":51572,"identifier":"36","token":"36","url":"\/36\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":360728,"structure_id":51594,"section_number":"36-55.24","catch_line":"Short title","url":"\/36-55.24\/","token":"36\/1.2\/36-55.24","metadata":false},{"id":360729,"structure_id":51594,"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":360730,"structure_id":51594,"section_number":"36-55.26","catch_line":"Definitions","url":"\/36-55.26\/","token":"36\/1.2\/36-55.26","metadata":false},{"id":360731,"structure_id":51594,"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":360732,"structure_id":51594,"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":360733,"structure_id":51594,"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":360734,"structure_id":51594,"section_number":"36-55.29","catch_line":"Executive director","url":"\/36-55.29\/","token":"36\/1.2\/36-55.29","metadata":false},{"id":360735,"structure_id":51594,"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":360736,"structure_id":51594,"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":360737,"structure_id":51594,"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":360738,"structure_id":51594,"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":360739,"structure_id":51594,"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":360740,"structure_id":51594,"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":360741,"structure_id":51594,"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":360742,"structure_id":51594,"section_number":"36-55.33","catch_line":"Repealed","url":"\/36-55.33\/","token":"36\/1.2\/36-55.33","metadata":false},{"id":360743,"structure_id":51594,"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":360744,"structure_id":51594,"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":360745,"structure_id":51594,"section_number":"36-55.34","catch_line":"Repealed","url":"\/36-55.34\/","token":"36\/1.2\/36-55.34","metadata":false},{"id":360746,"structure_id":51594,"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":360747,"structure_id":51594,"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":360748,"structure_id":51594,"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":360749,"structure_id":51594,"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":360750,"structure_id":51594,"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":360751,"structure_id":51594,"section_number":"36-55.37","catch_line":"Exemption from taxation","url":"\/36-55.37\/","token":"36\/1.2\/36-55.37","metadata":false},{"id":360752,"structure_id":51594,"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":360753,"structure_id":51594,"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":360754,"structure_id":51594,"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":360755,"structure_id":51594,"section_number":"36-55.40","catch_line":"Notes and bonds","url":"\/36-55.40\/","token":"36\/1.2\/36-55.40","metadata":false},{"id":360756,"structure_id":51594,"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":360757,"structure_id":51594,"section_number":"36-55.42","catch_line":"Refunding obligations; issuance","url":"\/36-55.42\/","token":"36\/1.2\/36-55.42","metadata":false},{"id":360758,"structure_id":51594,"section_number":"36-55.43","catch_line":"Same; sale","url":"\/36-55.43\/","token":"36\/1.2\/36-55.43","metadata":false},{"id":360759,"structure_id":51594,"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":360760,"structure_id":51594,"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":360761,"structure_id":51594,"section_number":"36-55.45","catch_line":"Agreement with Commonwealth","url":"\/36-55.45\/","token":"36\/1.2\/36-55.45","metadata":false},{"id":360762,"structure_id":51594,"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":360763,"structure_id":51594,"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":360764,"structure_id":51594,"section_number":"36-55.48","catch_line":"Grants from Commonwealth","url":"\/36-55.48\/","token":"36\/1.2\/36-55.48","metadata":{"court_decisions":""}},{"id":360765,"structure_id":51594,"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":360766,"structure_id":51594,"section_number":"36-55.50","catch_line":"Liberal construction","url":"\/36-55.50\/","token":"36\/1.2\/36-55.50","metadata":false},{"id":360767,"structure_id":51594,"section_number":"36-55.51","catch_line":"Reports","url":"\/36-55.51\/","token":"36\/1.2\/36-55.51","metadata":false},{"id":360768,"structure_id":51594,"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":360769,"structure_id":51594,"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":360743,"structure_id":51594,"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},"next_section":{"id":360745,"structure_id":51594,"section_number":"36-55.34","catch_line":"Repealed","url":"\/36-55.34\/","token":"36\/1.2\/36-55.34","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/36-55.33:2\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 254 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 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1991, chapter 206; in 1996, chapter 298<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1435683,"object_type":"law","relational_id":360744,"identifier":"36-55.33:2","token":"36\/1.2\/36-55.33_2","url":"\/36-55.33_2\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/36-55.33_2\/","token":"36\/1.2\/36-55.33_2","dublin_core":{"Title":"Powers relative to acquisition, development and ownership by HDA of multi-family residential housing","Type":"Text","Format":"text\/html","Identifier":"\u00a7 36-55.33:2","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> HDA<\/span> shall have all the powers necessary or convenient to purchase, acquire, construct, rehabilitate, own, operate, improve, repair, maintain, encumber, mortgage<\/span>, lease, sell and transfer or otherwise dispose of multi-family residential housing<\/span> or any part or interest therein for occupancy by persons and families of low and moderate income<\/span>. For the purposes of this section, HDA<\/span> may form corporations, joint ventures, partnerships, trusts or other legal entities or any combination thereof, on its own behalf or in conjunction with individuals or other public or private entities, to serve as housing sponsors<\/span> for multi-family residential housing<\/span> developments; may acquire, own, encumber, pledge, sell, transfer or otherwise dispose of interests in such housing sponsors<\/span>; may provide financing and other funding to such housing sponsors<\/span>; and may exercise all necessary or convenient rights and powers and perform all requisite duties and obligations relating thereto. HDA<\/span> shall not exercise the powers granted under this section with respect to any multi-family residential housing<\/span> development, unless HDA<\/span> makes the following findings<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> 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<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> 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. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> That private sponsors would not be willing, without assistance, to undertake the proposed housing development<\/span> upon substantially similar terms and conditions. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> That HDA<\/span> has not received notification from both the local housing authority having jurisdiction<\/span> over the area in which the housing development<\/span> would be located and the sponsor of such development that it is the preference of both parties that the local housing authority undertake the proposed housing development<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> That the proposed housing development<\/span> will provide well-planned, well-designed housing for persons or families of low and moderate income. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> That the housing development<\/span> will be of public use and will provide a public benefit. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> That the housing development<\/span> will be undertaken within the authority conferred by this chapter upon HDA<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> HDA<\/span> shall also find, in connection with the new construction or substantial rehabilitation by HDA<\/span> of any proposed multi-family residential housing<\/span> development, that the governing body of the locality in which such housing development<\/span> is to be located has not, within sixty days after written notification of such proposed construction or substantial rehabilitation has been sent by HDA<\/span> to such governing body and to any local housing authority having jurisdiction<\/span> in such locality, certified to HDA<\/span> in writing its disapproval of the proposed multi-family residential housing<\/span> development. The foregoing notwithstanding, no such finding<\/span> need be made if HDA<\/span> has received from the governing body its certified resolution approving the proposed housing development<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> At least sixty days prior to purchasing, acquiring, constructing or rehabilitating any multi-family residential housing<\/span> development pursuant to this section, HDA<\/span> shall publish a notice in a newspaper of general circulation in the locality in which such development is to be located. Such notice (i) shall state that HDA<\/span> intends to purchase, acquire, construct or rehabilitate a multi-family residential housing<\/span> development or developments in such locality and shall solicit proposals from interested parties for such purchase, acquisition, construction or rehabilitation or (ii) shall identify the multi-family residential housing<\/span> development or developments to be purchased, acquired, constructed or rehabilitated and shall request comments from the general public with respect to such proposed purchase, acquisition, construction or rehabilitation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> In the event HDA<\/span> or any legal entity formed by HDA<\/span> is to construct or rehabilitate a multi-family residential housing<\/span> development pursuant to this section, HDA<\/span> or such legal entity shall contract<\/span> with a private firm<\/span> for the performance of such construction and rehabilitation, unless HDA<\/span> determines that no responsible private firm<\/span> would be willing and able to contract<\/span> for such construction or rehabilitation at a price necessary for the financial feasibility of such development. HDA<\/span> or any legal entity formed by HDA<\/span> shall contract<\/span> with a private firm<\/span> or public body for the performance of management services for any multi-family residential housing<\/span> development owned by HDA<\/span> or such legal entity pursuant to this section, unless HDA<\/span> determines that no responsible private firm<\/span> and no public body would be willing and able to contract<\/span> for the performance of such management services at a price necessary for the financial feasibility of such development. For the purpose of this subsection, the term “private firm<\/span>” shall include an individual, joint venture, partnership, stock corporation, trust or other similar business entity legally authorized to perform the construction, rehabilitation or management, as may be applicable, of the proposed multi-family residential housing<\/span> development. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS RELATIVE TO ACQUISITION, DEVELOPMENT AND OWNERSHIP BY HDA OF MULTI-FAMILY\nRESIDENTIAL HOUSING (\u00a7 36-55.33:2)\n\nA. HDA shall have all the powers necessary or convenient to purchase, acquire,\nconstruct, rehabilitate, own, operate, improve, repair, maintain, encumber,\nmortgage, lease, sell and transfer or otherwise dispose of multi-family\nresidential housing or any part or interest therein for occupancy by persons and\nfamilies of low and moderate income. For the purposes of this section, HDA may\nform corporations, joint ventures, partnerships, trusts or other legal entities\nor any combination thereof, on its own behalf or in conjunction with individuals\nor other public or private entities, to serve as housing sponsors for\nmulti-family residential housing developments; may acquire, own, encumber,\npledge, sell, transfer or otherwise dispose of interests in such housing\nsponsors; may provide financing and other funding to such housing sponsors; and\nmay exercise all necessary or convenient rights and powers and perform all\nrequisite duties and obligations relating thereto. HDA shall not exercise the\npowers granted under this section with respect to any multi-family residential\nhousing development, unless HDA makes the following findings:\n\n 1. That there exists a shortage of decent, safe and sanitary housing at\n rentals or prices which persons and families of low income or moderate income\n can afford within the general housing market area to be served by the proposed\n housing development.\n\n 2. That private enterprise and investment have been unable, without\n assistance, to provide the needed decent, safe and sanitary housing at rentals\n or prices which persons or families of low and moderate income can afford.\n\n 3. That private sponsors would not be willing, without assistance, to\n undertake the proposed housing development upon substantially similar terms\n and conditions.\n\n 4. That HDA has not received notification from both the local housing\n authority having jurisdiction over the area in which the housing development\n would be located and the sponsor of such development that it is the preference\n of both parties that the local housing authority undertake the proposed\n housing development.\n\n 5. That the proposed housing development will provide well-planned,\n well-designed housing for persons or families of low and moderate income.\n\n 6. That the housing development will be of public use and will provide a\n public benefit.\n\n 7. That the housing development will be undertaken within the authority\n conferred by this chapter upon HDA.\n\nB. HDA shall also find, in connection with the new construction or substantial\nrehabilitation by HDA of any proposed multi-family residential housing\ndevelopment, that the governing body of the locality in which such housing\ndevelopment is to be located has not, within sixty days after written\nnotification of such proposed construction or substantial rehabilitation has\nbeen sent by HDA to such governing body and to any local housing authority\nhaving jurisdiction in such locality, certified to HDA in writing its\ndisapproval of the proposed multi-family residential housing development. The\nforegoing notwithstanding, no such finding need be made if HDA has received from\nthe governing body its certified resolution approving the proposed housing\ndevelopment.\n\nC. At least sixty days prior to purchasing, acquiring, constructing or\nrehabilitating any multi-family residential housing development pursuant to this\nsection, HDA shall publish a notice in a newspaper of general circulation in the\nlocality in which such development is to be located. Such notice (i) shall state\nthat HDA intends to purchase, acquire, construct or rehabilitate a multi-family\nresidential housing development or developments in such locality and shall\nsolicit proposals from interested parties for such purchase, acquisition,\nconstruction or rehabilitation or (ii) shall identify the multi-family\nresidential housing development or developments to be purchased, acquired,\nconstructed or rehabilitated and shall request comments from the general public\nwith respect to such proposed purchase, acquisition, construction or\nrehabilitation.\n\nD. In the event HDA or any legal entity formed by HDA is to construct or\nrehabilitate a multi-family residential housing development pursuant to this\nsection, HDA or such legal entity shall contract with a private firm for the\nperformance of such construction and rehabilitation, unless HDA determines that\nno responsible private firm would be willing and able to contract for such\nconstruction or rehabilitation at a price necessary for the financial\nfeasibility of such development. HDA or any legal entity formed by HDA shall\ncontract with a private firm or public body for the performance of management\nservices for any multi-family residential housing development owned by HDA or\nsuch legal entity pursuant to this section, unless HDA determines that no\nresponsible private firm and no public body would be willing and able to\ncontract for the performance of such management services at a price necessary\nfor the financial feasibility of such development. For the purpose of this\nsubsection, the term “private firm” shall include an individual,\njoint venture, partnership, stock corporation, trust or other similar business\nentity legally authorized to perform the construction, rehabilitation or\nmanagement, as may be applicable, of the proposed multi-family residential\nhousing development.\n\nHISTORY: 1987, c. 254; 1991, c. 206; 1996, c. 298.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}