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VERMONT NAMED FINALIST IN EXPANSION OF MACARTHUR FOUNDATION HOUSING INITIATIVE; NEW REPORT DETAILS EFFECTS OF FORECLOSURE CRISIS ON RENTAL MARKET

Montpelier—The John D. and Catherine T. MacArthur Foundation has selected a proposal by the Vermont Housing and Conservation Board and the Vermont Housing Finance Agency to compete for up to $5 million in new funding to support state rental housing preservation efforts. The Vermont agencies would use the funding to restructure financing, increase energy efficiency, and provide support services to frail elders and formerly homeless individuals. The funds would be targeted to preserve more than 8,000 private and non-profit owned rental apartments in 123 towns over the next ten years.

SLADE, PHILBRICK RECEIVE TAX CREDIT SPECIALIST CERTIFICATION

BURLINGTON—Executive Director Sarah Carpenter announced that Multifamily Operations Specialists Erin Philbrick and Joshua Slade were certified Tax Credit Specialists by the National Center for Housing Management (NCHM). The certification is the result of three days of training and exams held in Boston last month. Tax Credit Specialists exhibit a high level of knowledge of the federal Low Income Housing Tax Credit (LIHTC) program, which creates and preserves affordable rental housing for lower-income households.

MARTHA PANTON HIRED AS HUMAN RESOURCES/OFFICE MANAGER

BURLINGTON—Executive Director Sarah Carpenter announced that Martha Panton, PHR, of Vergennes has joined VHFA as Human Resources/Office Manager. Panton was most recently Human Resources Project Coordinator at HallerLee Human Resources Consulting LLC in Burlington. Before that she served as Human Resources Administrator at 4 Seasons Garden Center in Williston. She was recently certified a Professional in Human Resources (PHR) by the Human Resource Certification Institute (HRCI), the credentialing affiliate of the Society for Human Resource Management (SHRM) in Alexandria, Virginia.

CARPENTER RECEIVES LEAHY LEADERSHIP AWARD

BURLINGTON— Vermont Housing Finance Agency (VHFA) Executive Director Sarah Carpenter has received the Leahy Leadership Award. The award, established in 1998, recognizes outstanding efforts of individuals to alleviate homelessness in Vermont. U.S. Sen. Patrick Leahy and Committee on Temporary Shelter (COTS) Executive Director Rita Markley presented the honor at the COTS Annual Meeting on Oct. 9 in Burlington. Carpenter received the award for her leadership in the area of affordable housing, and in particular for her many efforts to fight homelessness.

WHEN I’M 64 … WHERE WILL I LIVE? NEW VHFA ISSUE PAPER DESCRIBES CHALLENGES AHEAD AS VERMONT GROWS OLDER

BURLINGTON—Vermont is graying rapidly, and that demographic fact presents major challenges in housing and other areas, according to a new issue paper released today by Vermont Housing Finance Agency. The new publication, “Housing and the Needs of Vermont’s Aging Population,” is the third in a series of VHFA issue papers on affordable housing issues. The paper details the growing challenge of providing for an aging population in a time of rapidly-rising costs and limited resources. For example, by 2030, nearly one-fourth of Vermont’s population will be 65 or older.

LISA CLARK PROMOTED TO SENIOR FINANCIAL ANALYST

BURLINGTON—Executive Director Sarah Carpenter announced that Lisa Clark of Essex has been promoted to Senior Financial Analyst. Clark’s new responsibilities include working with the Agency’s Investment Manager and Controller to prepare quarterly and annual financial statements; and assisting in the tracking and monitoring of investments, arbitrage compliance calculations, and coordination of single-family bond trustee operational activity.

VHFA HONORS TOP MORTGAGE LOAN ORIGINATORS, LENDING INSTITUTIONS FOR FY2007

BURLINGTON— Vermont Housing Finance Agency is pleased to announce its top mortgage loan originators for fiscal year 2007: Michelle Shambo, Chittenden Bank, Middlebury, Addison County; Wendy Chenaille, Bank of Bennington, Bennington, Bennington County; Cathy Clark, Northeast Home Loan/Passumpsic Bank, St. Johnsbury, Caledonia and Essex counties; Jeanne Boucher, New England Federal Credit Union, South Burlington, Chittenden and Grand Isle counties; Carol McKinney, New England Federal Credit Union, St.

ASHLEY LAMELL HIRED AS STAFF ACCOUNTANT

BURLINGTON—Executive Director Sarah Carpenter announced that Ashley Lamell of Burlington has joined VHFA as Staff Accountant. Lamell is responsible for the Agency’s accounts payable and daily cash receipts functions. Lamell’s previous position was Tech Support Clerk/Technical Specialist, Cash Control, at Chittenden Services Group in Burlington. Before that, she worked several years as Office/Accounting Assistant at Central Supplies in Randolph. Lamell holds a B.S. in Accounting earned from Plymouth State University in Plymouth, N.H. She graduated summa cum laude earlier this year.

CLARENCE E. DAVIS HIRED AS DEVELOPMENT OFFICER

BURLINGTON—Executive Director Sarah Carpenter announced that Clarence E. Davis of Burlington has joined VHFA as Development Officer. Davis analyzes prospective multifamily housing and single-family development loans being considered for VHFA financing. He’s responsible for underwriting of Housing Credit applications and assists VHFA’s Director of Development with the administration of the Housing Credit program. Davis spent a year as Director of Homeownership Programs at the Central Vermont Community Land Trust in Barre.

NEW PARTICIPATING LENDER JOINS VHFA ROSTER

BURLINGTON, VT  First National Bank of Orwell has become a Vermont Housing Finance Agency (VHFA) participating lender. Participating lenders work with borrowers to answer questions about purchasing a home with a VHFA mortgage, determine borrowers’ eligibility, and process applications for low-interest rate VHFA home loans. “We’re pleased to have First National Bank of Orwell join the ranks of VHFA participating lenders,” said VHFA Executive Director Sarah Carpenter.

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