Vermont learned last month that its population grew by a slim 2.8% between 2010 and 2020, less than the national average of 7.4%. But by planning to invest millions in American Rescue Plan Act funds in homes and neighborhoods, Vermont policy makers have embraced the opportunity presented by this decade to accelerate community and economic vibrancy. Last week, the Vermont legislature ended its session with a proposed 2022 state budget allocation for housing of $190 million of these federal recovery funds. 

VHFA will be hosting two public meetings on June 1 and June 3 to discuss how to use federal American Rescue Plan Act funding to serve Vermont homeowners. The Homeowners Assistance Fund, created by the act, will provide Vermont up to $50 million over the next 3 years to provide assistance for mortgage payments and other expenses troubling homeowners with pandemic-related hardship.

Meetings will be held via Zoom on Tuesday, June 1, 2021, at noon and Thursday, June 3, 2021, at 5 PM (meeting hyperlinks and call-in phone numbers below).  VHFA will use community input from these meetings to help design programs targeted to homeowners with incomes at or below the area median and to socially disadvantaged homeowners.  

Executive Director Maura Collins announced that Vermont Housing Finance Agency (VHFA) has selected Abigail Colbeth (she/her) of Williston and Michael Plunkett (he/him) of Fairfax to join its Mortgage Assistance Program (MAP) team. 

VHFA’s Mortgage Assistance Program uses federal CARES Act funding to provide grants covering up to 12 months of past due mortgage payments and property taxes for eligible Vermont homeowners impacted by the pandemic. Since re-opening for a second round on May 3^rd, the program has already received over 230 applications.  

The Federal Home Loan Bank of Boston (FHLBB)'s 2021 Affordable Housing Program (AHP) will begin to accept applications on June 7. The program will award grants and low-interest loans through member institutions to organizations promoting homeownership and rental housing opportunities for low income households. The Affordable Housing Program has led to the production or renovation of nearly 35,000 affordable homes since 1990.