Development

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.

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.

Senator Patrick Leahy joined Governor Phil Scott, VHFA Deputy Director Maura Collins, and many supporters in Montpelier on Tuesday to celebrate the groundbreaking of the 1 Taylor Street affordable housing project. The project, sponsored by Housing Vermont and Downstreet Housing & Community Development, will create 19 affordable apartments for low-income Vermonters as part of a 30 unit development incorporating a new city transit center.

Senator Patrick Leahy and Congressman Peter Welch joined representatives from the Vermont Legislature, housing advocates, and many other supporters in downtown Montpelier on Tuesday at a groundbreaking ceremony for the French Block affordable housing project.

On Monday, April 16 the Vermont Housing Finance Agency (VHFA) Board of Commissioners committed federal Housing Tax Credits and Vermont Affordable Housing Credits to construct and renovate apartments for low-income Vermonters over the next several years. The $3.5 million in ten-year federal capped credits, $319,000 in ten-year federal uncapped “bond” credits and $173,000 in five-year state credits will support the development of 251 apartments in eight communities across the state.

In January, Vermont Housing Finance Agency was instrumental in the sale of nearly $37 million in Vermont Property Transfer Tax Revenue Bonds. Proceeds from these bonds, sold as sustainability bonds due to their intended use, support the Housing for All initiative to construct and preserve affordable housing across Vermont.

The Federal Home Loan Bank of Boston’s Community Development Advance (CDA) program offers members an excellent way to support economic development and affordable housing in their communities.

Housing partners seeking to improve opportunities for lower income Vermonters described this week why federal tax reform bills would make reaching this goal much harder and hurt Vermont communities. Learn more from these WPTZ and 

When the Senate and House released their initial tax reform proposals last week in Washington, Vermont's Congressional delegation went to work to protect valuable resources that are part of the tax code, such as private activity bonds and housing tax credits.  Tax programs are responsible for most affordable housing d

From the Vermont Affordable Housing Coalition -