Development

Yesterday the Douglas administration announced nearly $6 million in grants to benefit affordable housing in Vermont.

The funds come from the Neighborhood Stabilization Program.

The U.S. Department of Housing and Urban Development (HUD) today awarded more than $5.4 million to benefit affordable housing in Vermont.

The funding comes via HUD's new Tax Credit Assistance Program (TCAP), part of the American Recovery and Reinvestment Act of 2009. TCAP is a grant program that provides capital investments to stalled Low-Income Housing Tax Credit (LIHTC) projects.

VHFA has awarded tax credits to Upper Story Housing, a proposed two-story addition to a new building in Brattleboro proposed by the Brattleboro Food Co-op.

Chief of Program Operations David Adams is quoted in a story about the development in this morning's Brattleboro Reformer.

The Shelburne Development Review Board has granted preliminary approval to Shelburnewood.

That proposed housing project, which we told you about earlier this week, would replace the Shelburnewood Mobile Home Park with a mix of affordable, work-place and market-rate housing.

The Board's 6-1 vote means project planners can move ahead to more detailed plans.

The former S.W. Thayer School on North Avenue in Burlington will be redeveloped to include affordable housing.

Cathedral Square Corp. (CSC) purchased the property from the State of Vermont yesterday. CSC will redevelop it in conjunction with Champlain Housing Trust and EF Farrell.

Vermont Rural Ventures’ $30 million award of federal stimulus money was covered in this morning’s Brattleboro Reformer.

You can read the article online.

Vermont Rural Ventures' $30 million award of federal stimulus money was covered in this morning's Burlington Free Press.

You can read the article online.

Vermont Rural Ventures (VRV) will receive $30 million to develop affordable housing and help stimulate economic growth in Vermont.

The funds, in the form of New Market Tax Credits (NMTC), result from the recently-passed American Recovery and Reinvestment Act (ARRA).

VHFA is seeking comments on its competitive priorities for the new Tax Credit Assistance Program (TCAP).

TCAP is part of the American Recovery and Reinvestment Act (ARRA), signed into law by President Obama on Feb. 17.

A group of statewide housing organizations, including VHFA, have formed the Vermont Green Home Alliance.

The alliance, announced at a press conference at the Champlain Valley Expo this afternoon, promotes and encourages "green" building practices in Vermont.