Yet again VHFA has topped all other states in using Housing Tax Credits – a program designed to serve low income households earning up to 60 percent of the area’s median income (AMI) – for extremely low income households earning less than 30 percent of the AMI. 65 percent of Vermont’s credits served extremely low income households, compared to a national average of just 9 percent. Louisiana and North Carolina were the next highest states with 39 and 33 percent, respectively. VHFA has taken several steps recently to support the use of this valuable resource for the most vulnerable Vermonters such as creating an incentive for developers who target at least 10 percent of their new units for supportive housing. Additionally, VHFA is currently applying to HUD for project-based rental assistance to support extremely low income households with disabilities through a newly reformed Section 811 program. These results were included in the recently published State HFA Factbook, an annual publication of the National Council for State Housing Agencies.
