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The Rental Revolving Loan Fund (RRLF) was created as part of Vermont's Housing Made for Everyone (HOME) Act, which was signed into law on June 5, 2023. The Act created RRLF to incentivize the creation and preservation of rental housing for middle-income households earning between 65%-150% of the Area Median Income (AMI). The program provides developers and builders with a subordinate loan for up to 35% of the development cost per rental unit for middle-income households.

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Vermont Housing Finance Agency and the Vermont State Treasurer’s Office have initiated a $50 million partnership for deploying funding made available through the Local Investment Advisory Committee (or 10% for Vermont) initiative. The $50 million is available to developers and builders in Vermont through short-term and long-term debt with interest rates that are substantially lower than market rates.

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