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Economy

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.

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.

TV program helps Vermonters manage their money

The Vermont State Treasurer's Office has produce "Managing Your Money in a Challenging Economy," a television program intended to help Vermonters manage their budgets during the difficult economy.

The 30-minute program will show on cable access stations across the state next week. DVD copies will also be available at local libraries.

Four key segments in the program cover:

"Housing/wages" report released

Members of Vermont's housing community released the latest edition of "Between a Rock and a Hard Place: Housing and Wages in Vermont" at a press conference this morning at the Statehouse.

The report indicates the recession hasn’t made finding affordable housing for average Vermonters any easier.

NeighborWorks of Western Vermont in Rutland Herald

The Rutland Herald published a story in this morning's edition about foreclosure assistance available from NeighborWorks of Western Vermont in Rutland.

Wall Street Journal features VHFA

This morning's Wall Street Journal explores the challenges facing housing finance agencies such as VHFA in an article titled "State housing agencies get caught in credit crunch."

In the article, which appears on the front page of Section C, Nick Timiraos writes, "The agencies aren't in trouble because of bad lending. ... (They) are getting slammed by a host of market forces."

Tax credit, other incentives in Free Press

This weekend, the Burlington Free Press highlighted some incentives to get first-time homebuyers into a new home, including the homebuyer tax credit.

Writer Sky Barsch quotes VHFA Public Affairs Manager John Fairbanks in her story.

Read the story online.

Affordability question explored on VPR

Vermont Public Radio's "Vermont Edition" aired a segment last week exploring the question of whether or not housing in Vermont is becoming more affordable.

Host Jane Lindholm spoke with Rutland Herald reporter Bruce Edwards about the debate spurred by a recent report published by two Vermont economists.

Listen to the segment online.

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