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Grants to benefit affordable housing in Springfield, Johnson, Bellows Falls

Posted by: VHFA on 7/8/2009

Yesterday the Douglas administration announced nearly $6 million in grants to benefit affordable housing in Vermont.

The funds come from the Neighborhood Stabilization Program.

$3.5 million will go to Stewart Property Management of Bedford, N.H., to help purchase and restore Rockingham Canal House, a 41-unit affordable senior housing property.  (Read our press release about Stewart's acquisition of the property.)

$1 million in deferred loans was awarded to Springfield Housing Unlimited and Housing Vermont to help rebuild the Ellis Block building, damaged by fire last summer.

And $1.4 million in deferred loans will go to Lamoille Housing Partnership, Housing Vermont and Johnson Community Housing to redevelop the former Vermont Electric Cooperative building in downtown Johnson into 24 new affordable rental units, known as Johnson Community Housing.

The awards were announced at an event yesterday at the Rockingham Canal House.