Title of Regulation: 13VAC5-130. Multifamily Loan Program (repealing 13VAC5-130-10 through 13VAC5-130-240).

Statutory Authority: § 36-137 of the Code of Virginia.

Effective Date: January 1, 2013.

Agency Contact: Stephen W. Calhoun, Regulatory Coordinator, Department of Housing and Community Development, Main Street Centre, 600 East Main Street, Richmond, VA 23219-1321, telephone (804) 371-7000, FAX (804) 371-7090, TTY (804) 371-7089, or email steve.calhoun@dhcd.virginia.gov.

Summary:

The Multifamily Loan Program regulation was adopted to provide guidelines for the operation of the Multifamily Loan Program that was funded through the Virginia Housing Partnership Revolving Fund pursuant to § 36-141 of the Code of Virginia. The use of the Virginia Housing Partnership Revolving Fund for providing housing assistance has substantially changed since 1990, and this program is no longer funded by the Partnership Fund and is no longer an active state program. Therefore, there is no need for this regulation and it is repealed.