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Development

Vermont launches Zoning for Great Neighborhoods project

Earlier this week, the Vermont Department of Housing and Community Development (DHCD) launched the Zoning for Great Neighborhoods project, an initiative aimed at helping Vermont cities and towns break down the regulatory barriers preventing them from meeting the housing needs of Vermonters.

Ribbon cutting celebrated at Wentworth Community Housing

Earlier this week, local leaders, housing developers and new residents gathered in White River Junction to celebrate the opening of Wentworth Community Housing. The project, developed by Twin Pines Housing and Housing Vermont, created 30 one and two bedroom apartments, 21 of which will be rented at rates affordable to low income Vermonters.

VHFA to hold outreach meetings on QAP updates

Vermont Housing Finance Agency (VHFA) will be holding a series of outreach meetings to seek comments on the draft 2020 Qualified Allocation Plan (QAP). The QAP is a compilation of IRS mandates, national best practices and state housing priorities that sets eligibility and criteria for awarding state and federal tax credits to developers of affordable housing.

Funding available for downtown development projects

The Vermont Agency of Commerce and Community Development (ACCD) is now accepting applications for 2019 for two different programs that promote development and revitalization of Vermont’s downtowns.

Home building is key to helping improve affordability market-wide

A recent study illustrates how new market-rate housing construction in one part of town, especially in markets with low vacancy rates, improves housing affordability for lower income residents in other parts.

New England Federal Credit Union gives $500,000 for affordable homes in Northwest Vermont

New England Federal Credit Union (NEFCU) President/CEO John J. Dwyer, Jr. announced today a $500,000 grant from NEFCU to Vermont Housing Finance Agency (VHFA) to address the area’s shortage of housing affordable to Vermonters with low and moderate incomes. The money will support construction and renovation costs for perpetually affordable homes in Bristol, Jericho and several other towns. 

Resources available from ADU workshops

Materials about the potential impact and programmatic aspects of accessory dwelling units (ADUs) are now available following workshops held recently in Burlington by Homeshare Vermont and AARP-VT, and in West Lebanon by the Vital Communities campaign. 

Federal Financing Bank Risk Share Initiative extended through Dec. 2018

HUD announced last week that it will extend the multifamily risk-sharing initiative with the Federal Financing Bank for VHFA and other eligible U.S. housing finance agencies (HFAs). Created in 2015, this initiative has provided much-needed access for HFAs to the U.S. Treasury’s Federal Financing Bank.

Great River Terrace ribbon-cutting

Residents, staff, and supporters gathered in Brattleboro last week for a ribbon-cutting celebration at Great River Terrace. The project, sponsored Windham & Windsor Housing Trust (WWHT), created 22 affordable apartments for homeless and very low income Vermonters. The $4.6 million project was funded in part by federal and state tax credits and a construction loan awarded by VHFA.

Congressional report highlights housing crisis

A task force convened by the New Democrat Coalition, a group of moderate Democrats in the U.S. House of Representatives, has found that housing is becoming increasingly unaffordable and unavailable for many Americans. In the report, Missing Millions of Homes, the Coalition linked the lack of affordable housing to a combination of wage stagnation and decreased construction.

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