Vermont Housing Finance Agency (VHFA) has released its second annual report for the Vermont Housing Investment Fund (VHIF). VHFA established the fund in 2020 in recognition of a growing need for more flexible financing opportunities for affordable housing development. VHIF investments are intended to fill gaps in project budgets, allowing worthwhile housing projects to move forward despite complex and changing development conditions.

The past few years have witnessed a societal reckoning with income, class, and racial disparities, particularly as they relate to health and well-being. A number of multisector collaborations with a focus on environmental justice and social determinants of health have sprouted up and are leveraging advocacy, philanthropy, and governmental policy to address these intersectional issues.

A new program offered by the U.S. Department of Housing and Urban Development (HUD) will offer $837.5 million in grants as well as $4 billion in loan authority to help property owners to carry out energy efficient retrofits of HUD-assisted multifamily affordable housing. The Green and Resilient Retrofit Program (GRRP) is part of the Inflation Reduction Act (IRA) passed by Congress last August.

The Missing Middle-Income Homeownership Development Program (Missing Middle) recently received an additional $9 million through the Fiscal Year 2023 State Budget Adjustment Act. This funding is available to both applicants who previously submitted applications earlier this year as well as new applicants to the program. All developers and builders who have projects which would be affordable under the parameters of the Missing Middle program are encouraged to apply, especially for projects in geographic areas of Vermont that were not previously awarded program funds.