Submitted by Leslie Black-Plumeau on April 18, 2017 - 9:41am
On Monday, April 17, the Vermont Housing Finance Agency (VHFA) Board of Commissioners committed federal Low-Income Housing Tax Credits (LIHTC) and Vermont Affordable Housing Credits that will provide almost $37 million in upfront equity to construct and renovate housing for low-income Vermonters over the next several years. The $2.5 million in ten-year federal capped credits, $610,000 in ten-year federal u
Submitted by Leslie Black-Plumeau on April 12, 2017 - 3:22pm
Housing developers, business leaders, smart growth policy experts and poverty advocates joined together to support the passage of a $35 million housing bond this afternoon at a press conference at Vermont’s State House in Montpelier.
Recommended in Governor Scott's budget proposal, the housing bond would address a significant need for affordable housing in Vermont, help to alleviate homelessness, house the workforce, and provide expanded homeownership opportunities for Vermonters.
Submitted by Leslie Black-Plumeau on March 8, 2017 - 9:40am
Strong financial performance contributed to a rating upgrade to Aa2 for VHFA's multiple purpose bonds from Moody's Investors Service last week. The rating applies to new multiple purpose bonds and all outstanding long-term debt under the multiple purpose bond program.
Submitted by Leslie Black-Plumeau on February 3, 2017 - 2:57pm
Applications for the 2017 round of federal capped (9%) Low-Income Housing Tax Credits and Vermont State Housing Credits are due to VHFA by Friday, February 10, 2017. Housing credits are the largest source of funding in Vermont for building and renovating affordable rental housing.
Submitted by Leslie Black-Plumeau on September 19, 2016 - 11:59am
Unique features of rural housing require flexible national policies and financing programs, explains Executive Director Sarah Carpenter in her recent article for Rural Voices, a journal of the Housing Assistance Council.
By purchasing $125,000 in Vermont Housing Tax Credits last Friday, Union Bank supplied the equity needed to help approximately 125 households buy their first homes in Vermont this coming year. These households will receive up to $5,000 to help cover their down payment and closing costs through a statewide program when they qualify for a Vermont Housing Finance Agency mortgage.
Submitted by Leslie Black-Plumeau on June 2, 2016 - 4:00pm
June is a terrific time to reflect on the importance of homeownership in this country, especially in Vermont where residents are more likely than in most states to own their homes. VHFA is working with local lenders across the state to extend the opportunity to own a home to even more Vermonters through low interest loans from a trusted non-profit source.
Submitted by Leslie Black-Plumeau on June 1, 2016 - 3:45pm
Black and Latino mortgage applicants from New England continued to experience much higher denial rates than whites and Asians in 2013 and 2014, according to the Federal Reserve Bank of Boston’s recent study. The disparity occurred at every income level.
Submitted by Leslie Black-Plumeau on May 10, 2016 - 9:38am
After sitting vacant for six years, the Gevries mobile home park in Addison County has started redevelopment. VHFA provided housing tax credits that will cover an estimated 60 percent of the project’s costs and ensure that the new 14-home community will be affordable for low-income renters of all ages. By installing VERMOD high-performance duplex homes, developers Cathedral Square Corporation and Addison County Community Trust anticipate that the neighborhood will achieve net-zero annual energy costs, another critical component of its long-term affordability.