New England Federal Credit Union (NEFCU) President/CEO John J. Dwyer, Jr. announced at a press conference held today at their headquarters in Williston a $3 million contribution to Vermont Housing Finance Agency (VHFA)’s Housing Investment fund. The money will be awarded by VHFA over the next three years to developers to address Vermont’s critical need for affordable rental housing and homeownership opportunities. 

“The housing shortage in Vermont, already a crisis, has been made even worse by recent events,” noted Dwyer.  “Major, immediate action is needed. In line with our ongoing mission of community support, we are beginning a comprehensive campaign that will provide multiple solutions to this complex challenge.”

Last week, VHFA joined Governor Scott and housing partners in South Hero for a groundbreaking ceremony at Bayview Crossing. The project, developed by Cathedral Square Corporation, will create 30 mixed-income apartments for senior residents. The project will receive the majority of its funding from federal credits and a loan awarded by VHFA.   

"We know housing, especially housing working Vermonters and retirees and can afford, is a tremendous need in Vermont, all across Vermont," remarked Governor Scott.  

University of Vermont graduate student Barbara Asiimwe (she/her) has been named the Fall 2021 Vermont Housing Fellow. Asiimwe will receive a financial stipend to help VHFA’s research and outreach for its upcoming Homeowner Assistance Program. In addition, the Vermont Housing Fellowship program is intended to provide the Fellow with valuable experience aiding her professional development. 

VHFA and the Vermont League of Cities and Towns recently published a checklist of options for using local recovery funds provided through the American Rescue Plan Act (ARPA) to promote recovery from the pandemic through investments in housing and neighborhoods. By providing more safe, affordable housing, communities can address inequities, promote health and spur broader economic benefits. The checklist joins the many resources available to communities in the Vermont Housing-Ready toolbox.