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.
Last week's Northeast Kingdom Collaborative meeting on affordable housing was covered by WCAX-TV Channel 3 on Friday.
Director of Homeownership Programs Pat Crady represented VHFA at the event.
VHFA has received $7 million in funding for the Vermont Neighborhood Stabilization Program to:
VHFA has awarded tax credits to Upper Story Housing, a proposed two-story addition to a new building in Brattleboro proposed by the Brattleboro Food Co-op.
Chief of Program Operations David Adams is quoted in a story about the development in this morning's Brattleboro Reformer.