Yesterday the Douglas administration announced nearly $6 million in grants to benefit affordable housing in Vermont.
The funds come from the Neighborhood Stabilization Program.
Vouchers help reunite Vermont families
The U.S. Department of Housing and Urban Development (HUD) will award 150 rental assistance vouchers to two Vermont housing authorities to help reunite children in foster care with their parents.
Burlington Housing Authority will receive 50 vouchers. Vermont State Housing Authority will receive 100. Total dollar amount of the vouchers is more than $940,000.
NeighborWorks of Western Vermont to receive $2 million
Our friends at NeighborWorks of Western Vermont will receive $2 million in federal economic stimulus funds to help first-time homebuyers.
The funding comes from the Community Development Financial Institutions Program, part of the recent American Recovery and Reinvestment Act.
The $2 million is part of $6 million being split among three Vermont non-profit organizations: NeighborWorks of Western Vermont, Vermont Community Loan Fund and Opportunities Credit Union.
Vermont to receive $5.4 million from HUD
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.