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OIG Audit: Virginia Complied With Section 1602 Requirements

Friday, August 26, 2016 - 9:00AM

The Virginia Housing Development Authority (VHDA) generally complied with eligibility and compliance requirements for the Section 1602 program of the American Recovery and Reinvestment Act (ARRA), according to an audit by the Department of the Treasury’s Office of Inspector General (OIG). Section 1602 of the ARRA consisted of grants to states in lieu of low-income housing tax credits (LIHTCs) during the Great Recession. The OIG audit of Virginia is part of a series of audits by the OIG to assess compliance with ARRA.

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