| Address Candidates |
- The system will return one or more addresses matching closest with the information submitted. These choices are your address candidates.
- Select one of the candidates to return geographic results and Area of Economic Opportunity (Federal Target Area) status.
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| Area of Chronic Economic Distress |
- A specific area designated by a state or local government as meeting the standards established by the state.
- These standards include the condition of the area’s housing stock-the number of abandoned or substandard units, proportion of units constructed prior to 1940 and the average age of the housing stock.
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| Census Tract |
- A small, relatively permanent statistical subdivision of a county or statistically equivalent entity, delineated for data presentation purposes in accordance with Census Bureau guidelines.
- Designed to be relatively homogeneous units with respect to population characteristics, economic status and living conditions. Census Tracts generally contain between 1,000 and 8,000 people, with an optimum size of 4,000 people.
- Census Tract boundaries are delineated with the intention of being stable over many decades, and generally follow relatively permanent visible features. However, in some instances, they may follow governmental unit boundaries and other invisible features.
- The boundary of a state or county (or statistically equivalent entity) is always a Census Tract boundary.
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| Jurisdiction |
- The City or County in which a property is located.
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| Latitude |
- Used to describe the North-South position of a point, as measured in degrees or decimal degrees above or below the equator.
- Latitude lines are the horizontal lines on a map that increase from 0 degrees at the equator to 90 degrees at both the North (+90.0 degrees) and South (-90.0 degrees) Poles.
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| Longitude |
- Used to describe the East-West position of a point. The position is reported as the number of degrees east (to -180.0 degrees) or west (to +180.0 degrees) of the prime meridian (0 degrees).
- These are represented by vertical lines running from the North to the South Poles.
- Lines of longitude are farthest apart at the equator, intersect at both poles and are not parallel.
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| Property Address |
- The street address of a property that generally consists of a house number, street name, city, state and ZIP code.
- VHDA’s Geographic Look-up tool will only return information for properties within the Commonwealth of Virginia.
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| Qualified Census Tract |
- Defined as a census tract in which 70% or more of the family have an income 80% or less than the statewide median family income.
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| Required Field(s) |
- Information fields that must be filled in.
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| Standardized Address |
- A property address that conforms to U.S. Postal standards.
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| Targeted Area |
- Defined by the IRS, Department of the Treasury, as those areas which are either a Qualified Census Tract or an Area of Chronic Economic Distress.
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| Three-year Rule |
- Rule that states a loan applicant may not have held an ownership interest in a principal residence within the past three years.
- This rule applies to VHDA’s First-time Homebuyer loans (mortgage revenue bond), unless the property is located within a Federal Targeted Area.
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