A recent report from the Federal Reserve Bank of Boston finds that rural New England communities suffered larger economic losses due to the COVID-19 pandemic relative to nearby urban centers and rural counties across the United States. This will heavily impact Vermont renters amidst the current trends of rising rental prices and decreasing supply of affordable rental units.

Northeastern University graduate student Ben Harrold (he/him) has been named the Summer 2021 Vermont Housing Fellow. Harrold will receive a financial stipend to improve and expand information available to decision makers about Vermont housing markets and opportunities. In addition, the program is intended to provide the Fellow with valuable experience aiding his professional development.

Harrold is pursuing a Master of Arts in Political Science with a Concentration in Public Policy at Northeastern University. He has interned at the office of U.S. Senator Maggie Hassan. A native of New Hampshire, he co-founded the Kearsarge Housing Coalition in his hometown.

The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced last week that its annual allocation of federal housing tax credits will support the construction of 105 permanently affordable apartments in five communities across the state. The sale of the credits is expected to yield over $26 million in funding, which will cover over 60 percent of total development costs. The program is the largest single funding source for affordable housing development in Vermont.

“The federal housing tax credit program is an absolutely vital resource that has proven to be an exceptional tool for addressing Vermont’s shortage of affordable rental housing,” said Senator Patrick Leahy. "It’s critical we expand it to help Vermont recover from the pandemic.”

Executive Director Maura Collins announced that VHFA has selected Alejandro Flores-Howland (he/him) of Winooski as its new Legal Coordinator.

Flores-Howland has a Bachelor’s Degree from Green Mountain College and a Paralegal Associate of Applied Science Degree from SUNY Schenectady. He has worked both at private law firms and at the Vermont Attorney General’s office. He enjoys exploring the outdoors and has also worked as a guide at Umiak Outfitters in Stowe.    

"VHFA’s Legal Department has been responsible for overseeing several new programs during the pandemic, in addition to its usual work," Collins remarked. "Alejandro’s experience and attention to detail are a welcome addition to the team.”