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Pre-development loan programs suspended

At its Dec. 18 meeting, the VHFA Board of Commissioners decided to suspend new activity under VHFA's multifamily and single-family Ventures pre-development loan program.

We hope to resume this program, which has helped fund start-up development costs for non-profit organizations, as soon as market conditions allow.

Michelle Kennedy keynote to air again

michelle kennedyMichelle Kennedy's keynote address from last month's Vermont Statewide Housing Conference will air again on CCTV Channel 17 in Chittenden County:

  • Jan. 2, 11:05 a.m.
  • Jan. 3, 4:05 a.m.
  • Jan. 3, 10:05 a.m.
  • Jan. 3, 4:05 p.m.

Learn more at our previous post.

Village Haven named first "Vermont neighborhood"

Village Haven, a 24-unit development in Essex Junction, has been named the first "Vermont neighborhood" by the state's Downtown Board.

The designation's the result of the Vermont Neighborhoods bill, which was passed this spring to stimulate housing development in downtowns and villages.

Read more in this morning's Burlington Free Press.

Holiday party photos

Some photos from last week's VHFA holiday party and "Yankee swap."

Michelle Kennedy keynote airs Dec. 24

michelle kennedyMichelle Kennedy's keynote address from last month's Vermont Statewide Housing Conference will air again on CCTV Channel 17 in Chittenden County: Dec. 24 at 11:45 a.m.

You can also watch the keynote online anytime.

Who receives federal housing assistance?

The single largest type of federal housing assistance is the home mortgage interest deduction.

In 2007, U.S. homeowners received $85 billion through this deduction1. Unfortunately, the benefits of the mortgage interest deduction are enjoyed primarily by the wealthiest Americans. Over 80% of the value of this deduction goes to homeowners in the top income quintile, according to a recent Pew Charitable Trust study on economic mobility.

Grants help prevent foreclosure

The Rutland Herald reports today that the Rockingham Area Community Land Trust and NeighborWorks of Western Vermont received grants to expand their foreclosure prevention counseling programs.

The money comes from the Federal Housing and Economic Recovery Act of 2008.

The article quotes Bruce Whitney, Director of the NeighborWorks HomeOwnership Center of Southeastern Vermont; and Tom Candon, Deputy Commissioner of the state's Banking Division and a VHFA Commissioner.

Record donations for mitten-drive

sylvia white stuffs mittens with candyThis morning, VHFA staff members took part in the Agency's long tradition of "mitten stuffing" to benefit our neighbors at the King Street Youth Center.

Staff donate mittens, gloves, scarves and hats, and fill them with candy before giving them to the kids who attend the center.

This year we saw the highest level of donations in several years, and perhaps ever: 239 pairs of mittens, gloves, hats and scarves.

Obama names next HUD secretary

shaun donovanPresident-elect Barack Obama named New York City Commissioner of Housing Preservation and Development Shaun Donovan next Secretary of the U.S. Department of Housing and Urban Development (HUD).

Read Donovan's bio at the NYC Department of Housing and Preservation Development site.

Blog post #200

Friday afternoon, we posted our 200th entry to Housing Matters.

Here are some statistics about the blog's first several months online:

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