Legislation

Sen. Bernie Sanders issued a statement this afternoon saying he will "vote against a budget agreement that cuts public housing by $605 million and eliminates financial counseling when homeowners need it most."

According to the statement, the proposed cuts include a 16 percent reduction to the Community Development Block Grant program, which helps build affordable housing; and a 12 percent cut to the HOME program, which funds affordable housing for low-income families.

The cuts would cost Vermont $1.5 million in grant funding and another $500,000 to build affordable housing.

This morning, the National Council of State Housing Agencies (NCSHA), National Association of Home Builders, National Association of Realtors, Mortgage Bankers Association, and others, released a set of "Principles for Restoring Stability to the Nation’s Housing Finance System."

The principles state:

The City of Burlington's Question #8 passed 4,102/1,753 during last week's Town Meeting Day.

You might remember from last week's post ("VAHC urges 'Yes' on Burlington's Question #8") the question dealt with sending a message to Montpelier urging the Legislature to pass a bill protecting at-risk assisted Vermonters and their housing.

The Vermont Affordable Housing Coalition thanks everyone who helped out with its “Save Our Homes” campaign — especially those who donated money to get fliers to more than 15,000 Burlington households, as well as create lawn signs.

The Vermont Affordable Housing Coalition (VAHC) urges Burlington voters to vote "Yes" on Question #8 in tomorrow's Town Meeting Day vote.

The question asks whether or not to send a message to the Legislature to pass a bill protecting at-risk assisted Vermonters and their housing.

VAHC used donated funds to distribute more than 15,000 flyers to Burlington residents and post lawn signs to help get out the vote.

In addition to asking residents to vote "Yes" tomorrow, VAHC is looking for people to hold signs at the polls and help spread the word online about the vote.

The Vermont Affordable Housing Coalition is seeking to raise $1,500 for its "Save Our Homes" campaign aimed at encouraging the Vermont Legislature to adopt affordable housing preservation legislation.

The funds will go toward producing an information piece in support of a Town Meeting Day ballot item for Burlington voters to send the word to the Statehouse.

Approximately 2,600 affordable housing units in Vermont are in danger of converting to market rate rentals or condominiums over the next several years. Nearly 300 are in Burlington.

Quick follow-up to yesterday's post about the Burlington City Council voting last night to add a question to the March ballot urging Vermont lawmakers to pass housing preservation legislation ("Support affordable housing at tonight’s Burlington City Council meeting").

The Council unanimously approved the measure.

The Vermont Affordable Housing Coalition (VAHC) is encouraging Burlington residents to attend tonight's Burlington City Council meeting and speak out in support of affording housing in Vermont.

The Council is considering adding a question to Burlington's March ballot urging Vermont lawmakers to protect 300 affordable housing units in the Queen City by passing preservation legislation.

According to VAHC, more than 2,500 affordable units are at risk statewide.

The Council's meeting is at 7 tonight, at City Hall, 149 Church St., Burlington. The public forum begins at 7:30.

Yesterday the U.S. Senate Banking, Housing and Urban Affairs Committee voted unanimously to support the Frank Melville Supportive Housing Investment Act of 2010 (S.1481). The legislation reforms the U.S. Department of Housing & Urban Development's (HUD) Section 811 Supportive Housing for Persons with Disabilities.

S.1481 authorizes an innovative 811 demonstration program that promotes integrated housing opportunities for people with disabilities and could create 3,500-5,000 or more new affordable and accessible units every year without increasing Section 811 appropriations. During recent years, the program has produced fewer than 1,000 units annually.

Congress has granted homebuyers three additional months to close on their properties and still be eligible for federal tax credits.

The bill could be signed into law by President Obama as early as this morning.

The legislation would give buyers until Sept. 30 to complete their home purchases and still qualify for up to $8,000 in tax credits. Previously, buyers had until April 30 to sign a sales contract; June 30 to close.

The bill passed the House Tuesday and the Senate yesterday.

The proposal applies only to buyers who already have signed contracts.

Last Friday, the U.S. House passed H.R. 4213, the “Tax Extenders Bill.”

The legislation provides $1 billion for the National Housing Trust Fund (NHTF), which will enable communities to build, rehabilitate, and preserve housing for very low income households.

The legislation also includes $2.5 billion for the TANF Emergency Contingency Fund (ECF), which provides benefits, cash assistance, subsidized employment, and short-term assistance to low-income families.

The ECF was enacted under the Recovery Act and was set to expire Sept. 30. The bill extends it to Sept. 30, 2011.