With the passing of the State budget and enactment of a bond that could produce $35 million, Vermont is making its largest single commitment ever of state dollars for affordable housing. VHFA will issue the revenue bond and the Vermont Housing and Conservation Board (VHCB) will administer the funds statewide to expand Vermont’s stock of permanently affordable housing. 

The Governor will sign the budget bill containing the bond on Wednesday, June 28^th at 11:00 a.m. in the Ceremonial Office at the Vermont State House in Montpelier.

Governor Phil Scott signed S. 135 last week, a bill to encourage economic growth and affordable housing. Although the law was signed on June 8, 2017,  portions of the bill are effective on date of enactment of the FY 2018-2019 budget. Vermont State Treasurer Beth Pearce (pictured), also on VHFA's Board of Commissioners, was one of the bill signing speakers. 

Among other things, the bill makes development in state-designated centers faster and more affordable by increasing the downtown tax credits by $200,000, exempting housing projects from Act 250 review and enabling six new Tax Increment Financing (TIF) districts.  

The Vermont Council on Homelessness has a new website providing information about the state's initiatives to help end homelessness.  The responsibilities of the Council include development, monitoring and periodic revision of Vermont’s Plan to End Homelessness. The Council also makes annual recommendations to the Governor and Administration regarding resource, policy, and regulatory changes necessary to reduce and end homelessness in Vermont.

Governor Phil Scott joined by Executive Director Sarah Carpenter and others on June 5, cut the ribbon on the newly-constructed, 28,000 square foot Elm Place, an affordable residence for seniors, located in Milton.

Elm Place is considered a “passive house” due to its impressive energy savings. Some of these savings come from its cold climate air source heat pumps, a rooftop solar array and LED lighting. A few of Elm Place amenities include an elevator, exercise room, on-site storage, kitchen, lounge, laundry facilities, covered parking and an outdoor courtyard, including garden beds for resident use.