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- The Virginia Housing Development Authority (VHDA) is the state’s mortgage finance agency. Created in 1972 by the Virginia General Assembly, its mission is to help Virginians with low and moderate income levels attain quality, affordable housing whether through rental programs or home ownership. VHDA strives to overcome barriers to homeownership, as well as to offer easily accessible products, programs and services. VHDA has developed several loan programs designed to meet the needs of low-and moderate-income consumers.
- The Virginia Housing Development Authority is self-supporting and does not use tax dollars to fund its lending programs. The Authority sells bonds to the private sector in order to support its lending programs. From its own operating funds, VHDA finances the Virginia Housing Fund, which makes loans to homeownership and rental programs that serve Virginians who cannot be served by its traditional bond-funded programs.
- The Virginia Housing Development Authority is a quasi-government agency, and as such, is subject to certain supervisory powers of the governor and the General Assembly. VHDA is required to submit annual reports of its operating and financial status, which are subject to review by the Auditor of Public Accounts. VHDA’s Board of Commissioners is composed of 11 members, all of whom are appointed by the governor. Eight members are direct appointees, including a Housing Choice Voucher Program representative. Day-to-day management is left to the executive director. In 1999, Susan F. Dewey became the executive director of VHDA.
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- Salmon, John S., comp. A GUIDE TO STATE RECORDS IN THE ARCHIVES BRANCH OF THE VIRGINIA BRANCH OF THE VIRGINIA STATE LIBRARY AND ARCHIVES. Richmond: Virginia State Library, 1985
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