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Economy

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.

NeighborWorks of Western Vermont Executive Director Ludy Biddle and Deputy Commissioner of Banking and Securities for the Department of Banking, Insurance, Securities and Health Care Administration Tom Candon, who also sits on VHFA's Board of Commissioners, are quoted in the piece.

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.

MacArthur award in Herald, Argus

Sister publications the Rutland Herald and Barre-Montpelier Times Argus published a story today about last week's MacArthur Foundation news.

Read the story online.

Details on the $2.6 million coming to VHFA and the Vermont Housing & Conservation Board are available at our previous post.

Vermont's first recovery funds already released

More than $14 million of economic aid funds have already been released to Vermont, less than 10 days after President Obama signed the American Recovery and Reinvestment Act (ARRA).

The funds are directed to state and local agencies through the:

Vermont to receive $2.6 million for affordable housing

Representatives from Vermont Housing Finance Agency (VHFA), Vermont Housing & Conservation Board (VHCB) and Central Vermont Community Land Trust (CVCLT) announced Vermont will receive $2.6 million from the MacArthur Foundation.

The foundation's investment — a $600,000 grant to VHCB and a $2 million loan to VHFA — recognizes Vermont’s longstanding commitment to the preservation of rental housing.

Used in conjunction with other investments, the funding will preserve thousands of affordable apartments in Vermont over the next decade.

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