Representatives from Vermont Housing Finance Agency (VHFA), Vermont Housing & Conservation Board (VHCB) and Central Vermont Community Land Trust (CVCLT) announced Vermont will receive $2.6 million from the MacArthur Foundation.

The foundation's investment — a $600,000 grant to VHCB and a $2 million loan to VHFA — recognizes Vermont’s longstanding commitment to the preservation of rental housing.

Used in conjunction with other investments, the funding will preserve thousands of affordable apartments in Vermont over the next decade.

Vermont Housing Finance Agency and other organizations that fund mortgage loans using tax-exempt housing bonds have a little something to cheer about.

VHFA loans are now eligible for a Home Buyer Tax Credit, as part of the recently-passed American Recovery and Reinvestment Act (ARRA).

First-time homebuyers who buy a home on or after Jan. 1, 2009, and before Dec. 1, 2009, and finance their purchase with a VHFA loan might be eligible for a tax credit equal to 10 percent of the home's purchase price, up to a maximum of $8,000.

VHFA Executive Director Sarah Carpenter was interviewed for a couple of TV news stories regarding President Obama's economic recovery package.

Fox 44 in Colchester and WCAX Channel 3 in Burlington spoke with Sarah following the president's talk in Arizona yesterday.

"It's very easy to blame homeowners who may have gotten in over their head in debt, but it's even a greater cost if we have to push them out of their homes and foreclose upon them," Sarah told Channel 3.

"So if there's a rational way to reduce monthly payments, keep people on track, that's good for everybody."

Vermont has the lowest foreclosure rate in the country, due, in part, to Vermonters avoiding subprime and other risky mortgage deals.

Kate Stephenson has become Executive Director of Yestermorrow Design/Build School in Warren.

Yestermorrow is one of the only design/build schools in the country, teaching design and construction skills that embrace sustainability, craftsmanship, and experiential learning.

Kate came to the school in 2002 as a design/build intern and has held a variety of positions within the organization.

She served as an Associate Director and then Director of Operations, and has been serving as Interim Executive Director since October 2008.