VHFA is conducting its annual review of the Qualified Allocation Plan (QAP) for Tax Credits, and will  hold a public hearing for feedback next Wednesday.

The QAP determines how VHFA allocates Vermont's Housing Tax Credits. We estimate we'll have $2.63 million in 2011-12 credits to allocate.

Next week's public hearing is a meeting of the Joint Committee on Tax Credits, which is responsible for making recommendations to the VHFA Board of Commissioners on changes to the QAP. It'll be held at 9:30 a.m. on Jan. 19 at VHFA, 164 Saint Paul St., Burlington.

VHFA expects its Board of Commissioners will act on the Committee's recommendation at the Board's Feb. 7 meeting. Allocations made after the Board's adoption will be made under criteria of the newly-revised QAP.

Faith Brown of Underhill has become Interim Executive Director of Smart Growth Vermont in Burlington.

Brown has served as Vice President for Finance and Operations and Interim CEO at the Vermont Community Foundation, and Director of Planning and Program Evaluation for the Visiting Nurse Association of Chittenden and Grand Isle counties.

“Faith is highly respected in Vermont’s philanthropic community as well,” says Smart Growth Vermont founder John Ewing. “We are confident that she will not only lead us through our transition, but help us define the next generation for our organization.”

According to a new report from the Center for Housing Policy, affordable housing development drives local economic growth.

The report cites National Association of Home Builders estimates that building 100 new Low-Income Housing Tax Credit units for families can lead to the creation of more than 120 jobs during the construction phase.

Furthermore, that activity ripples through the economy, supporting businesses that supply the construction trade as well as retailers, health services, and restaurants where newly employed workers spend their pay.

In case you missed VHFA Executive Director Sarah Carpenter, front and center, in this photo from this week's Burlington Free Press.

The occasion was a ribbon cutting at the new Canal Street Apartments in Winooski.

Read more in the Free Press story.