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VHFA News

Posted by: admin on January 23, 2004 - 5:19am

BURLINGTON, VT  Vermont Housing Finance Agency (VHFA) Director of Administration Patricia Loller was certified a Professional in Human Resources (PHR) by the Human Resource Certification Institute (HRCI). The certification is the result of an intensive course of study in strategic planning, compensation and benefits, HR development, employee rights, and other HR issues, followed by a four-hour exam administered Dec. 6 in South Burlington. Loller joined VHFA in 1998 as Director of Information Systems. She was promoted to her current position in March 1999. “This certification represents a tremendous amount of initiative on Pat’s part,” said VHFA Executive Director Sarah Carpenter. “It also confirms what those of us who work with Pat already knew: She’s as committed to serving the VHFA staff as much as she is to advancing her own professional skills.” HRCI is the credentialing affiliate of the Society for Human Resource Management (SHRM). Both organizations are in Alexandria, Virginia. HRCI promotes establishment of standards for the profession and recognizes HR professionals who, through demonstrated professional experience and the passing of a comprehensive exam, have met HRCI’s requirements for mastering the HR body of knowledge. Since HRCI began certifying in 1976, nearly 60,000 HR professionals have earned certifications. There are approximately 120 certified HR professionals in Vermont. (hrci.org, May 2003) VHFA was established by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the agency has helped more than 24,000 households with affordable mortgages and more than 6,700 families into affordable rental units.

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Posted by: admin on October 8, 2003 - 3:49am

BURLINGTON, VT æ Vermont Housing Finance Agency (VHFA) Executive Director Sarah Carpenter announced today the hiring of Sylvia White as Administrative Assistant. White staffs VHFA's reception area, is responsible for office supplies, flexible benefits, and tracking of employees’ combined time off (CTO). She also provides administrative support to all departments at the Agency. Before joining VHFA, she worked for Adelphia/Prestige Cable Television in Fredericksburg, Virginia, for nearly 20 years. VHFA was established by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the agency has helped more than 24,000 households with affordable mortgages and more than 6,700 families into affordable rental units.

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Posted by: admin on September 22, 2003 - 7:36am

BURLINGTON, VT — Affordable housing will be created in four Vermont communities with the help of $1.1 million in federal and state Housing Tax Credits awarded by Vermont Housing Finance Agency. "Tax credits are one of the most significant tools we have in creating and preserving affordable rental housing. Unfortunately, demand for these credits routinely exceeds supply," said Executive Director Sarah Carpenter. "The shortage of high quality affordable housing continues to be a problem for most Vermont communities and for the Vermont economy. VHFA is very pleased to assist in the development of this housing, but frustrated that we couldn’t do more to meet the needs of all the applicants." VHFA is responsible for allocating Housing Tax Credits. Projects receiving federal tax credits this round all consist of new construction: Butterfield Commons Family, West Dover; Riverside Village, Essex Junction; Roosevelt Apartments, Burlington; and Stony Creek, Wilder. Butterfield Commons Elderly in West Dover received state Housing Tax Credits. Housing Tax Credits have helped produce nearly all of Vermont's recently-developed affordable rental housing. Vermont receives $2 million annually in federal Housing Tax Credits and $150,000 in state Housing Tax Credits, which it awards in three rounds. The next round, originally planned for the end of this year, has been rescheduled to early 2004. A schedule and application information are available at the VHFA website: www.vhfa.org. Congress created the Low Income Housing Tax Credit program in 1986 to encourage the creation and preservation of affordable rental housing for low-income households. As a supplement to the federal program, the Vermont legislature created a similar program in 2000. Tax credits reduce tax liability for owners of qualifying rental housing if they agree to conform to certain operating restrictions. VHFA was established by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the agency has provided low-cost homeownership financing to more than 24,000 Vermont families, and financed the construction or rehabilitation of more than 6,700 affordable apartments.

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Posted by: admin on July 17, 2003 - 3:53am

BURLINGTON—The National Center for Housing Management awarded VHFA Tax Credit Compliance Specialist Kathy Curley the Certified Occupancy Specialist (COS) designation. The COS designation indicates mastery of occupancy requirements of subsidized multifamily housing programs. Curley received the honor following completion of a three-day course and an exam on the newly revised U.S. Department of Housing & Urban Development Handbook 4350.3. Curley joined VHFA in November 2000 as an Administrative Assistant. She was promoted to her current position in November 2002. VHFA was established by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the agency has provided low-cost homeownership financing to more than 24,000 Vermont families, and financed the construction or rehabilitation of more than 6,700 affordable apartments.

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Posted by: admin on June 2, 2003 - 7:57am

BURLINGTON— Vermont Housing Finance Agency (VHFA) has again announced a new low mortgage interest rate — 5.35% for a 30-year, fixed rate loan with no points for qualified borrowers — which is the lowest rate ever offered by the Agency. The new rate becomes effective today. “VHFA is always working to give Vermonters the most value for their dollar, and our new rate means the dream of homeownership is within the reach of more people,” said VHFA Executive Director Sarah Carpenter. “Market conditions change all the time, so we can’t say how long we’ll be at 5.35%. But VHFA remains committed to supporting affordable homeownership and to providing Vermonters with the best value we can offer.” In addition, VHFA borrowers can save up to $500 at closing, because VHFA mortgages are exempt from the Vermont Property Transfer Tax on the first $100,000 of the home purchase price. VHFA also offers a Cash Assistance Rate Option, at a slightly higher interest rate, which offers qualified borrowers up to 3% of their loan amount in cash back to help pay closing costs and/or downpayment. “For many borrowers, coming up with the money for downpayment and closing costs can be a major obstacle standing between them and a new home,” Carpenter said. “The Cash Assistance rate option is one way VHFA can help.” Carpenter added, “The new rate follows VHFA’s recent announcement that it was able to raise its income and purchase price limits, which made more people eligible for a VHFA loan.” VHFA offers a variety of mortgage loan products, with different interest rates. (See rates table on our Web site: www.vhfa.org) Rates are subject to change. Prospective borrowers should contact their local lenders for more details. A list of lenders that offer VHFA’s products is also available on the Agency’s Web site. VHFA was established by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the agency has provided low-cost homeownership financing to more than 24,000 Vermont families, and financed the construction or rehabilitation of 6,500 affordable apartments.

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