The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced on Monday April 15, 2024, that its annual award of federal housing tax credits will support the construction of 156 homes in perpetually affordable apartment buildings in five communities across the state. The sale of this year’s tax credits to investors is expected to yield over $40 million in funds, covering an estimated 60 percent of total project development costs.
Finance
Treasurer Pieciak and VHFA Announce Housing Investments Made Through 10% in VT Program
Housing and Community Development stakeholders from across the state gathered in St. Albans on Monday April 1st to announce funding commitment of $39 million that will support a wide range of housing opportunities across Vermont. State Treasurer Mike Pieciak and Vermont Housing Finance Agency (VHFA) Executive Director Maura Collins were joined by St.
Upcoming community investment series on partnerships and capital for affordable housing
VHFA is pleased to be partnering with and participating in the upcoming community investment forum “Leveraging Partnerships and Capital: Unlocking Barriers to Affordable Housing and Economic Development” on April 16 in Manchester, presented by the Federal Home Loan Bank of Boston. The Manchester forum will be one of eight events throughout New England as part of the series.
Speakers at the Manchester forum include:
VHFA Is Hiring!
Vermont Housing Finance Agency (VHFA) is recruiting a new Staff Accountant. Formed in 1974, VHFA’s mission is to finance and promote affordable, safe, and decent housing opportunities for low- and moderate-income Vermonters. Named one of the “Best Small/Medium Places to Work in Vermont” several times over the last few years, VHFA offers a competitive salary and comprehensive benefits package. VHFA is looking for an individual who will help us to maintain our great reputation, and who demonstrates a strong work ethic, is creative, puts customers first, and works well both independently and as a team player.
VHFA receives $7.5 million in federal and philanthropic awards for investments in affordable housing
Vermont Housing Finance Agency (VHFA) announced it received $7.5 million for housing through a federal award and a generous philanthropic donation. Together, these awards will support the development or preservation of over 300 affordable rental homes, as well as establishing an innovative pilot project to support smaller-scale community housing projects. The recent awards demonstrate how investments from philanthropic donors can help attract new federal funding to meet Vermont’s housing needs.
Regional housing development funding sessions
VHFA is conducting a series of sessions around the state about housing development funding. Learn about new funding opportunities available and share how they can best help you overcome challenges to build and renovate affordable housing. Open to anyone interested in creating and preserving affordable housing, including small and aspiring developers.
Sessions in five locations as well as a virtual session have been scheduled at this point. Stay up to date about additional sessions and materials available by checking back to this web page,
VHFA awards housing credits and loans for 139 perpetually affordable homes
The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced Monday the award of state and federal housing tax credits and loans to support the construction, rehabilitation or preservation of 139 permanently affordable apartments in four communities across the state.
“Our state continues to see numerous challenges in the construction and rehabilitation of housing combined with increasing rates of homelessness,” remarked VHFA Executive Director Maura Collins. “The Vermont development community and housing funders have joined together to make these projects possible and get more Vermonters into safe, decent and affordable homes, including those exiting homelessness.”
VHFA releases 2023 VHIF Annual Report
Vermont Housing Finance Agency (VHFA) has released its second annual report for the Vermont Housing Investment Fund (VHIF). VHFA established the fund in 2020 in recognition of a growing need for more flexible financing opportunities for affordable housing development. VHIF investments are intended to fill gaps in project budgets, allowing worthwhile housing projects to move forward despite complex and changing development conditions.
Learn more about the “10% in Vermont” local investment program
A webinar on applying for the “10% in Vermont” local investment program will be held at noon on April 17, with applications for the program due June 1, 2023. The program was announced earlier this week by State Treasurer Mike Pieciak who was joined by VHFA’s executive director Maura Collins, state and local leaders and community members.
Missing Middle Program Application Deadline Extended to January 27
On June 7th 2022, Governor Scott signed legislation that provides $15 million in funding for the Missing Middle-Income Homeownership Development Pilot Program. The program will be initially funded from a portion of the state’s American Rescue Plan Act funding. The program will provide subsidies and incentives for home builders to construct or rehabilitate modest homes affordable to Vermont homebuyers at 120% of Area Median Income or lower. VHFA launched the program in December 2022.