Earlier this week, local leaders, housing developers and new residents gathered in White River Junction to celebrate the opening of Wentworth Community Housing. The project, developed by Twin Pines Housing and Housing Vermont, created 30 one and two bedroom apartments, 21 of which will be rented at rates affordable to low income Vermonters. The project received the majority of its funding from federal tax credits and a loan awarded by VHFA.

Last week, the state increased funding for affordable homeownership when Governor Phil Scott signed a bill passed by the Legislature which will add over a million dollars for homeowners in Vermont.

Revenue Bill H.541 increases the Vermont Affordable Housing Tax Credit program by $250,000 for FY20. This increase is expected to result in just under $1.2 million more for affordable homeownership initiatives once the tax credits are sold to investors.

Vermont Housing Finance Agency (VHFA) will be holding a series of outreach meetings to seek comments on the draft 2020 Qualified Allocation Plan (QAP). The QAP is a compilation of IRS mandates, national best practices and state housing priorities that sets eligibility and criteria for awarding state and federal tax credits to developers of affordable housing.

The Vermont Agency of Commerce and Community Development (ACCD) is now accepting applications for 2019 for two different programs that promote development and revitalization of Vermont’s downtowns.