Name: Revitalization Areas
Display Field: RA_POLICY_AREA
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Description: <DIV STYLE="text-align:Left;"><DIV><DIV><P><SPAN>Revitalization Areas identify those portions of Loudoun County, specifically the entire Suburban Policy Area & a portion of the Leesburg Joint Land Management Area, where residential developers can receive tax credit funding for proposed apartment projects. They also </SPAN><SPAN>gain additional points in the Virginia Housing Development Authority's (VDHA) Low Income Housing Tax Credit (LIHTC) competitive tax credit scoring system. </SPAN></P><P><SPAN>In the LIHTC competition, with application review based on a point system, an application can receive 15 points for its location in a designated revitalization area. These 15 points may make the difference in winning the LIHTC in the competitive application process leading to the development of an affordable rental project.</SPAN></P></DIV></DIV></DIV>
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