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Development

Grants to benefit affordable housing in Springfield, Johnson, Bellows Falls

Yesterday the Douglas administration announced nearly $6 million in grants to benefit affordable housing in Vermont.

The funds come from the Neighborhood Stabilization Program.

Vermont to receive $5.4 million from HUD

The U.S. Department of Housing and Urban Development (HUD) today awarded more than $5.4 million to benefit affordable housing in Vermont.

The funding comes via HUD's new Tax Credit Assistance Program (TCAP), part of the American Recovery and Reinvestment Act of 2009. TCAP is a grant program that provides capital investments to stalled Low-Income Housing Tax Credit (LIHTC) projects.

The money should help VHFA resume funding of affordable rental housing while stimulating employment in the construction trades.

Brattleboro co-op housing receives tax credits

VHFA has awarded tax credits to Upper Story Housing, a proposed two-story addition to a new building in Brattleboro proposed by the Brattleboro Food Co-op.

Chief of Program Operations David Adams is quoted in a story about the development in this morning's Brattleboro Reformer.

Read the story online.

Shelburnewood receives preliminary approval

The Shelburne Development Review Board has granted preliminary approval to Shelburnewood.

That proposed housing project, which we told you about earlier this week, would replace the Shelburnewood Mobile Home Park with a mix of affordable, work-place and market-rate housing.

The Board's 6-1 vote means project planners can move ahead to more detailed plans.

If the project is realized, it'll eventually include 270 units on 27 acres, built over the course of 10 years. Half of those units would house the elderly.

Thayer School building to become housing

thayer school buildingThe former S.W. Thayer School on North Avenue in Burlington will be redeveloped to include affordable housing.

Cathedral Square Corp. (CSC) purchased the property from the State of Vermont yesterday. CSC will redevelop it in conjunction with Champlain Housing Trust and EF Farrell.

Vermont Rural Ventures award in Brattleboro Reformer

Vermont Rural Ventures’ $30 million award of federal stimulus money was covered in this morning’s Brattleboro Reformer.

You can read the article online.

Vermont Rural Ventures award in Free Press

Vermont Rural Ventures' $30 million award of federal stimulus money was covered in this morning's Burlington Free Press.

You can read the article online.

Vermont Rural Ventures to receive $30 million

Vermont Rural Ventures (VRV) will receive $30 million to develop affordable housing and help stimulate economic growth in Vermont.

The funds, in the form of New Market Tax Credits (NMTC), result from the recently-passed American Recovery and Reinvestment Act (ARRA).

VRV estimates it'll fund six to 12 housing and economic development projects in Vermont as a result of the tax credits.

Seeking public comment: TCAP priorities

VHFA is seeking comments on its competitive priorities for the new Tax Credit Assistance Program (TCAP).

TCAP is part of the American Recovery and Reinvestment Act (ARRA), signed into law by President Obama on Feb. 17.

The act includes a number of enhancements to the Low Income Housing Tax Credit program for fiscal years 2007-09, including TCAP and the Credit Exchange Program, also known as Monetized Credit.

Vt. Green Home Alliance launches

A group of statewide housing organizations, including VHFA, have formed the Vermont Green Home Alliance.

The alliance, announced at a press conference at the Champlain Valley Expo this afternoon, promotes and encourages "green" building practices in Vermont.

“VHFA's been a strong supporter of energy efficiency and green building design techniques for many years," said VHFA Chief of Program Operations David Adams.

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