VHFA’s Development Department is pleased to announce that applications are now open for the Community Housing Accelerator (CHA), a new program that will provide low-interest loans to developers of middle-income rental housing with 4-20 units.
The schedule for CHA is as follows:
- November 8, 2024: Applications open
- January 8, 2025: Applications close
- March 20, 2025: Anticipated awards
CHA is a subset of VHFA’s new Rental Revolving Loan Fund (RRLF), and will use many of the same program materials, including updated Guidelines, Application, and Pro Forma. CHA differs from RRLF in that it has slightly different award priorities, including a focus on smaller-scale developments with between 4 and 20 units. More detail is available in the program Guidelines.
The high level of interest in RRLF from small-scale and emerging developers, and in underserved Vermont communities, helped spur the creation of CHA. This initial round of CHA is funded by philanthropic investments, VHFA’s partnership with the Vermont State Treasurer’s Local Investment Advisory Committee (LIAC), and VHFA funds.
More information about CHA is available on the VHFA website, including all program materials. Please be in touch with VHFA’s Development Department at [email protected] with any questions.
Photo of Armory House in Vergennes, which is the model for the Armistice House project that received RRLF funding in June 2024.