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VHFA News

Posted by: Victoria Johnson on June 1, 2017 - 11:28am

Executive Director Sarah Carpenter joined Brattleboro Housing Partnerships and other agencies in Brattleboro, on May 25, 2017 to celebrate the opening of Red Clover Commons, a newly constructed 55-unit building for seniors and people with disabilities. These homes are intended to  replace units at Melrose Place which were severely damaged from Tropical Storm Irene in August 2011.

The project will offer support for residents through the Support and Services at Home program (SASH). The project incorporated numerous energy efficient features including a new geothermal heating and cooling system. The building is centrally located near various public services such as public transportation, shopping and the hospital. 

Brattleboro Housing Partnership and Housing Vermont developed Red Clover Commons using VHFA tax credits, which covered about half of the project’s development cost. The project also received funding from the HUD CDBG Disaster Relief Program and other Federal, State and local sources.

Information about renting a Red Clover Commons apartment is available at: http://www.brattleborohousing.org/properties

Photo: Robin Castine, VHFA

Posted by: Victoria Johnson on May 30, 2017 - 2:30pm

Registration is open for AHP Application Training in Rutland, VT on June 21, 2017 or Bretton Woods, NH on June 29, 2017.

 
The Federal Home Loan Bank of Boston has approximately $16.5 million available as grants and interest-rate subsidy to support the production and preservation of affordable housing initiatives.
 
The AHP application round opens on July 17, 2017. The round closes on September 6, 2017.
 
For those interested in applying for AHP funding this year, the trainings offer valuable information to help developers and sponsors with their funding applications.
 
For lenders, FHLB Boston also has webinars focused on member financial institutions’ role in the AHP. For more information on the AHP, visit the FHLB Boston’s website and attend a training.
 
Here are the registration links:
Vermont: June 21
New Hampshire: Bretton Woods, June 29
Massachusetts: Springfield on July 20 (for southern Vermonters)
 
Members’ Only Webinars: August 24
AHP Application webinars: May 30 and June 27
AHP Webinar for Rental Applications: July 19
AHP Webinar for Homeownership Applications: August 2
 
For more information contact:
Theo Noell
Manager of Programs and Outreach
Federal Home Loan Bank of Boston
800 Boylston Street
Boston, MA 02199
617-292-9668
Theodore.noell@fhlbboston.com

 

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Posted by: Madison Noyes on May 30, 2017 - 12:37pm

June is National Homeownership Month, which gives us a chance to celebrate the ways homeownership opportunities have improved in the last year, as well as reflect on ways we can improve in the coming year. To kick off the month, US Department of Housing and Urban Development secretary Ben Carson will be discussing the history and outlook of homeownership at 2pm EDT on June 1st, 2017.

There will be a webcast of the event.  

US Department of Housing and Urban Development states the following about their discussion on Thursday:

“Join HUD Secretary Ben Carson and a diverse group of experts to discuss the history and the outlook of this central foundation of ‘The American Dream.” Our panel of researchers and housing professionals will discuss the recent housing crisis and its impact on consumer behavior with a focus on the challenges millennial purchasers face as they enter the market in greater numbers.”

Find out more information about this event here.

Posted by: Leslie Black-Plumeau on May 30, 2017 - 10:07am

Allyson Laackman has been appointed as the executive director of the Burlington Housing Authority (BHA), the organization’s board of commissioners announced today. 

Laackman, who was recruited in December as interim co-executive director to help lead the organization through a strategic planning process, has a distinguished career in public service, including serving as the White House’s chief financial officer.

“Allyson has impressed all of us on the board of commissioners with her energy and enthusiasm for BHA’s mission,” said Michael Knauer, the chair of BHA’s board of commissioners. 

“Safe, affordable housing should be the foundation of our community, and I’ve been deeply moved by the work that BHA’s team does every day across Chittenden County to serve our residents,” Laackman says. “I believe that we are well-positioned to build on the terrific work of BHA and our community partners to help address the region’s affordable housing crisis. I’m deeply committed to ensuring that all Burlington-area residents have quality, stable, affordable housing.”

BHA owns or manages 680 rental units across 31 properties around the area, and administers HUD's rental assistance programs, which provide $21 million to help ensure safe, affordable housing for 2,600 families. The agency serves residents in Burlington, South Burlington, and Winooski, as well as portions of Colchester, Essex, Essex Junction, Shelburne, St. George, and Williston.

 

Posted by: Leslie Black-Plumeau on May 26, 2017 - 12:41pm

New England Federal Credit Union (NEFCU) President/CEO John J. Dwyer, Jr. announced today a $1 million grant from NEFCU to Vermont Housing Finance Agency (VHFA) to address the critical need for affordable housing. The money will be awarded by VHFA over the coming year to several housing developments that have funding shortfalls.

The grant is a bold step toward helping Vermont’s 30,000 low-income renter households who receive no housing assistance but face rents that are out of line with their income. More than half of the state’s low-income renters live in Addison, Chittenden, Franklin, Grand Isle, Lamoille and Washington counties—the 6 counties served by NEFCU.

“We are delighted to help increase the number of homes that are affordable to those Vermonters who struggle the most,” Dwyer remarked. “We have also heard from area employers about lack of affordable workforce housing and look forward to using this money to support the local economy,” he continued.

Due to its long-standing role running the state’s largest affordable rental housing development programs, VHFA was given the million dollars and will underwrite and select projects to receive the funds.

Sarah Carpenter, VHFA’s Executive Director, explained that “the NEFCU funding will allow us to meet the immediate funding needs of two development projects in South Burlington and Montpelier.” Both projects are located in downtown areas and will house low-income renters facing extremely tight housing markets.

In South Burlington, money will be awarded for the construction of “Allard Square,” located in the new City Center neighborhood. Allard Square will be a service-enriched residential building that includes 29 apartments for low income seniors and another 10 market-rate units. Cathedral Square Corporation is developing the project with Snyder-Braverman Development Company. 

The second project to receive funding will be the historic French Block building in downtown Montpelier. This project involves the rehabilitation of the upper two floors of French Block, an Italianate-style, brick block built in 1875 across from City Hall on Main Street in downtown Montpelier. The building is being redeveloped to include 14 apartments for low-income Vermont renters and 4 market rate apartments. The development is sponsored by a partnership between Downstreet Housing and Community Development and Housing Vermont. The redevelopment plan includes creating 15 one-bedroom apartments and 3 studio apartments. The project is registered with the National Green Building Standard and the building itself is a contributing structure in the Montpelier Historic District, which is listed on the National Register of Historic Places. 

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