September 2024 — After months of planning and anticipation, VCDC proudly hosted the annual NASLEF (National Association of State & Local Equity Funds) Conference in Charlottesville, VA from September 18-20th.

September 2024 - VCDC is honored to announce that we have received Approved Mortgage Broker Status permitting our organization to represent developers seeking loan products from Virginia Housing.  This will enable our team to extend its role in affordable housing development beyond tax credit services into the lending field with utilization of the considerable and wonderful lending opportunities available at Virginia Housing.  

Virginia Housing recently awarded VCDC $19,900 through their FY24 Capacity Planning Grant to support succession management planning. This grant award supports VCDC’s vision to build upon existing groundwork for needed succession planning and ensure our team is well prepared for shifts and growth within our organization as our CEO, Bob Newman, has announced his retirement set for April 2025.

The Vern Henley Special Initiative Grant gives VCDC partners and potential partners the ability to apply for grants to be used for special initiatives and programs for those residing in affordable housing in our service area.

Use this page to find resources in affordable housing and homelessness services not offered by VCDC.

2022 - What a year! We are incredibly grateful to our partners who we helped make huge impacts in the communities they serve.

VCDC is proud to celebrate 30 successful years of partnerships that have allowed us to serve vital and thriving communities. Hear what our partners have to say about our work.

VCDC’s lending affiliate, VCDF, is collaborating with a group of CDFIs to form the Virginia CDFI Coalition, which will, among other things, be actively involved with the state agencies responsible for deploying the fund.

It is an understatement to say that 2020 was a year of great change that tested everyone’s ability to quickly adapt their ways of doing business. Despite managing a slew of new and unique challenges, VCDC and its affiliates were able to raise over $54 million in LIHTC equity (exceeding our goal), close 8 LIHTC and New Market Tax Credit developments, grow the size of our CDFI loan fund, and partner in the acquisition and redevelopment of a mobile home community in southern Chesterfield County.

Hands-on asset management is part of the ongoing commitment to long-term success that VCDC upholds for each community in which we invest.

Housing security is correlated to health and emotional well-being, employment prospects and economic opportunity, yet the supply of available affordable housing for low-income renters across the country is deeply inadequate. Millions of people can’t afford a place to live.

The New Markets Tax Credit Program was established to spur investments in operating businesses and real estate projects located in low-income communities. The program attracts investment capital by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions.

Real estate tax credits are tools the federal government and state governments use to encourage investment in the development of real estate that is necessary and beneficial to a community, but not financially feasible without additional incentives.

The Low-Income Housing Tax Credit (LIHTC) is the most successful affordable rental housing production program in U.S. history. It is the federal government’s primary program for encouraging banks and other corporations to invest private equity in the development of affordable, multi-family rental housing for low-income households.

More than just a name, VCDC has always stood for the idea that all individuals deserve the opportunity to live in neighborhoods that allow them to thrive. Our deep connection and commitment to the communities we serve often overshadowed the promotion of our organization. In 2019, along with staff, Board, partners and a team of experts we embarked on a journey to more authentically share our story.