VHFA-ers spent time together this afternoon assembling household items and gift cards into gift baskets for five families whose homes were damaged by Tropical Storm Irene. 

All of the families are residents of Stockbridge, Vermont--a town particularly hard-hit by the storm and ensuing flood waters.  

Executive Director Sarah Carpenter announced that Brittany Garland of South Burlington has joined VHFA as Financial Analyst/Compliance Specialist.

Over the past 4 years Garland worked as an Accountant and AP/AR Coordinator at Hampton Direct.  She holds a B.A. in Business Administration earned at Castleton State College.

Tom Connors, VHFA’s Chief Financial Officer, commented, “the finance department is excited to welcome Brittany to the team,not only because of her accounting background, but also because of her focus on systems and process improvement.”

This week marks the 25th anniversary of the Tax Reform Act of 1986, the landmark legislation signed on October 22, 1986 by President Reagan that created the Low Income Housing Tax Credit (Housing Credit). Congress created the Housing Credit to encourage the construction and rehabilitation of affordable apartments for low-income working families by offering owners of such housing a credit against tax liability for 10 years. While no one could predict its future at the time, the Housing Credit has gone on to become the most successful rental housing program in history with over 2.4 million units of affordable, quality apartments constructed and preserved in rural, suburban, and urban areas across the country

Operating within the 2011 Budget Control Act’s tight spending limits, Congress is making difficult decisions about which programs to cut in fiscal year 2012.   In spite of growing housing needs, both the House and Senate are considering substantial cuts to the Department of Housing and Urban Development budget.

Check out media coverage of the proposed cuts at the New York Times and Vermont Affordable Housing Coalition.