Development

In our increasing complex system of government, housing is one of few policy areas that is still largely decided at the local level. Resident input can have a significant influence on the number and types of homes that are built in a community.

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.

Earlier this week, local leaders, housing developers and new residents gathered in White River Junction to celebrate the opening of Wentworth Community Housing.

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.

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.

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.

The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced yesterday that its annual allocation of federal and state housing tax credits will support the development of 214 permanently affordable apartments in nine communities across the state. Low and moderate income Vermont renters will benefit from a 12.5 percent increase in Vermont’s annual allocation enacted by Congress last year.

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. 

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. 

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.