More than 100 mobile homes in Vermont were destroyed by Tropical Storm Irene and hundreds more were damaged. The age and unique phyical characterstics of mobile homes, siting and land ownership complexities, and limited financing options have presented seemingly insurmountable challenges for Vermonters faced with relocating or making repairs.
Housing in the news
"Solidarity Sleep Out" for homeless youth
A group of business and community leaders will spend the night of March 29th sleeping outdoors, on the grounds of the Burlington Unitarian Church. Run by Spectrum Youth and Family Services, the sleep out is intended to help raise awareness of youth homelessness and increase funds to ensure that homeless youth have a safe, stable place to stay.
Treasury announces $35 million in New Markets Tax Credit awards for Vermont
Emphasizing the importance of economic recovery in distressed areas, U.S. Department of the Treasury's announced last week the award of $3.6 billion in New Markets Tax Credit (NMTC) nationwide, including $35 million for Vermont projects.
The NMTC, established by Congress in December 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making equity investments in vehicles known as Community Development Entities. Vermont Rural Ventures, Inc., operated by Housing Vermont, was selected along with 69 other entities, to distribute the 2011 tax credits. Over 314 entites applied nationwide.
President’s budget proposes changes to federal housing credit, MRB and HUD programs
The Obama administration sent Congress its FY 2013 budget this week, proposing changes to the housing credit program to provide incentives for creating mixed-income housing and to allow a 30 percent basis boost for some 4 percent credit, tax-exempt bond-financed preservation projects. It also proposes repealing the mortgage revenue bond (MRB) program purchase price limit and refinancing restriction.
Vermont receives $6.7 million in mortgage settlement
The settlement between the nation's top five mortgage lenders, the states, and the federal government will bring $3.1 million to Vermonters in the form of loan modifications and other relief. An additional $3.6 million will go to the state's coffers for housing related purposes, according to Vermont Public Radio.
Obama administration releases details of new housing plan
Following up the State of the Union address, the Obama administration released details of a plan to help borrowers and support the housing market's recovery.
Read the housing plan.
Designing the future of Burlington's downtown areas
If you're walking down Church Street in Burlington this week and want to help shape the future of the city's downtown areas, stop by the PlanBTV design charrette underway in the former Ann Taylor store space at 1 Church Street.
Read more in today's Burlington Free Press or watch a short video about PlanBTV.