Vermont's House Committee on Ways and Means learned this morning about opportunities to transform a temporary statewide down payment assistance program enacted last year into a self-funding program that can help first-time home buyers for years to come. VHFA's Executive Director, Sarah Carpenter, met with the committee this morning to explain how a legacy program could be created with the addition of four years of state housing credit funding.
Housing policy
Federal HOME program saved through coalition-building and leadership
The recent federal budget agreement included the survival of a program that has become a vital funding source for affordable rental housing in Vermont--the HOME Investment Partnership Program. When proposals arose earlier last year to deeply cut the program, the National Association of Housing Finance Agencies (NCSHA) HOME Coalition tirelessly and effectively gathered evidence of the program’s impact, documented its widespread support and educated federal policy makers.
Still time to voice your support for federal HOME program
The federal HOME program provides grants to state and local governments to produce affordable housing for low-income families. HOME funds are a vital and unique source of financing for roughly 25 percent of all affordable rental housing recently developed in Vermont. These projects would likely not have been possible without HOME assistance.
VHFA's Sarah Carpenter discusses down payment assistance on CCTV
Earlier this week, Executive Director Sarah Carpenter appeared on CCTV to discuss Vermont's new down payment assistance program for first-time home buyers. Interviewed by host Erhard Mahnke of the Vermont Affordable Housing Coalition, Carpenter described how the program works, its creation by the Vermont Legislature and the affordability hurdles that have plagued would-be first-time buyers in recent years.
Word of new down payment assistance program spreads to potential home buyers statewide
Last week's press conference at VHFA launched a new statewide down payment assistance program enacted by the Vermont Legislature in May 2015. Since the conference, the program has been in the news across the state, helping to reach Vermonters who might be able to use the program to buy their first home.
Recent local media coverage of the program includes:
USDA Rural Housing Service Administrator visits VHFA to discuss plans and policies
Tony Hernandez, USDA Rural Development’s (RD) Rural Housing Service Administrator, visited VHFA to share his plans for RD’s programs and policies for the future. The roundtable format brought together 20 housing leaders from across the state including Rutland, the Northeast Kingdom, and northwestern Vermont.
Vermont's HUD Consolidated Plan under revision
The Vermont Department of Housing and Community Development posted a revised “second draft” of its proposed 2015-2019 HUD Consolidated Plan and 2015 Action Plan on March 26, 2015 with tracked changes from the earlier draft version published on March 12. The document and information about the plan are available on DHCD’s website.
President Obama’s housing plan seeks better financing options for home buyers and rental housing
In addition to federal FHA mortgage insurance program modifications, President Obama announced this week his support for other ways to improve the availability of affordable owner and rental housing, including several initiatives administered by VHFA and partner housing agencies in other states.
Regarding housing finance reform, the President explained the importance of:
Registration open for Vermont Statewide Housing Conference
The Vermont Statewide Housing Conference is proud to announce its lineup of 18 workshops, in-depth plenary panel and nationally-acclaimed keynote speaker Barry Zigas. Register online today for this important event!
U.S. rental housing assistance illustrated on YouTube by Urban Institute
Check out this short video from the Urban Institute that explains the role of rental housing assistance for those who receive it and the problems that ensue for those who need it but can not.