Section 36-150 of the Code of Virginia requires the Department of Housing and Community Development (DHCD) to report annually on the Trust Fund and such other matters the Department may deem appropriate, including the status of the former Housing Partnership Revolving Fund. Designated recipients of the report include the Governor, Secretary of Commerce and Trade and the Chairs of the House Appropriations and the Senate Finance and Appropriations Committees.

In accordance with the requirement of § 36-150 of the Code of Virginia, DHCD presents the following document, which includes two sections and an addendum.1 Part I reviews the current allocation of funds for VHTF activities and the impacts of funds allocated in 2021-2022, as well as changes to the VHTF Program Design for 2022-2023. Part II updates information concerning the financial status of the Virginia Housing Partnership Revolving Fund, presently administered by Virginia Housing. The latter section continues the format used during previous years in accordance with the former statute and incorporates materials provided by Virginia Housing’s independent auditor, Clifton Larson Allen. This year’s report includes also an addendum related to Budget Item 114 E 3, which requires the following:

As part of its plan for 2022 required by § 36-150, Code of Virginia, the department shall include an assessment on the feasibility of using Virginia Housing Trust Fund resources to acquire, stabilize and improve manufactured home parks as a source of affordable housing for Virginians.

The Manufactured Home Park addendum is included at the end of the report.