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Partner organizations

The critical, and mathematical, role of tax credits and other sources in housing low-income Vermonters

Ever wonder why it's not easier to build affordable apartments?  A new interactive tool developed by the Urban Institute illustrates the mathematical necessity of tax credits, loans, tenant income/rent and grants in paying for the costs of affordable housing.  Check it out to see if you can make the math work!

Housing tax credits help renovate Lyndonville's Darling Inn


From L to R: Ted Brady (USDA), Jenny Nelson (Senator Sanders
office), Werner Heidemann (RuralEdge), Senator Leahy, Jen Hollar
(VHCB) and Sarah Carpenter (VHFA).  Photo by Elwin Prescott.

VHFA AND UNION BANK TURN TAX CREDITS INTO DOWN PAYMENT HELP FOR VERMONTERS

By purchasing $125,000 in Vermont Housing Tax Credits last Friday, Union Bank supplied the equity needed to help approximately 125 households buy their first homes in Vermont this coming year. These households will receive up to $5,000 to help cover their down payment and closing costs through a statewide program when they qualify for a Vermont Housing Finance Agency mortgage. 

 

Affordable housing tops concerns in UVM Medical Center community survey

Lack of affordable housing is the community challenge that survey respondents are most concerned about, according to the recently released 2016 Community Health Needs Assessment.  Among survey respondents, 58.3 percent rated lack of affordable housing as the top concern, followed by 52.5 percent for drug and alcohol abuse.  

Chittenden County leaders call for increased production of housing over next 5 years

Building Homes Together  was launched yesterday. It is a collaboration of organizations and communities seeking to remedy some of the most pressing challenges in Chittenden County’s housing market.

“The housing shortage in Chittenden County has been well noted with unhealthy vacancy rates and high rents,” added Charlie Baker, Executive Director of the Chittenden County Regional Planning Commission. “Employers can’t find workers, and workers themselves spend more time in commutes and with a higher percentage of their paychecks on housing costs.” 

High rents put Vermont’s housing wage far above average wage or minimum wage

A modest, two-bedroom apartment costs $1,099, according to the annual Out of Reach report from the National Low-Income Housing Coalition. In order to afford this level of rent and utilities — without paying more than 30% of income on housing — a household must earn an hourly “housing wage” of $21.13—far more than Vermont’s minimum wage of $9.60 or the average wage among the state’s renters ($11.79).

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Bipartisan Policy Center recommends new funding and approaches to meet housing needs of seniors

A recent report from the Bipartisan Policy Center describes the need for a comprehensive national approach to integrating health care and housing for seniors.

Metamorphosis begins for once-decaying mobile home park near Vergennes

After sitting vacant for six years, the Gevries mobile home park in Addison County has started redevelopment.  VHFA provided housing tax credits that will cover an estimated 60 percent of the project’s costs and ensure that the new 14-home community will be affordable for low-income renters of all ages. By installing VERMOD high-performance duplex homes, developers Cathedral Square Corporation and Addison County Community Trust anticipate that the neighborhood will achieve net-zero annual energy costs, another critical component of its long-term affordability. 

Ground breaking at Elm Place in Milton celebrated

Executive Director Sarah Carpenter joined partners from Cathedral Square and other agencies to launch construction of Elm Place, a 30-unit building for seniors in Milton. Elm Place will be Vermont’s first multi-family building certified to Passive House standards. Better windows and doors, added insulation and improved air sealing are expected to enable the building to use roughly 65 percent less energy. 

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