Development

Homelessness ended among veterans in Chittenden County

On August 28th, the United States Interagency Council on Homelessness (USICH) announced that the Chittenden County Continuum of Care (VT-501) has eradicated homelessness among veterans in Chittenden County.  
 
The announcement, sent to Mayor Kristine Lott of Winooski and Mayor Miro Weinberger of Burlington states: 
 
“We are confident that the infrastructure and systems you have built will ensure that any Veteran experiencing homelessness in the region will get the support they need to quickly obtain a permanent home.” 
 

VHFA awards state tax credits for affordable homeownership development

Last week the VHFA Board of Commissioners awarded state housing tax credits for five affordable homeownership development projects. In total, VHFA allocates $1,075,000 in state housing tax credits each year, $425,000 of which was awarded last week for affordable homeownership development. Once sold to investors, those credits will yield approximately $1.9 million in equity for construction.

VHFA to hold information sessions on Tax Credit Qualified Allocation Plan updates

Vermont Housing Finance Agency (VHFA) is in the process of updating the Qualified Allocation Plan (QAP) for 2022 to 2023. The Agency sought initial public comment on the plan in February. As part of its continued public engagement VHFA will hold four virtual informational sessions in August and September for the public to ask questions and provide further feedback on proposed QAP updates. 

Welch highlights affordable housing provisions in House infrastructure bill

VHFA Executive Director Maura Collins joined Representative Peter Welch at the future site of Juniper House in Burlington last week to promote the federal Moving Forward Act, a $1.5 trillion infrastructure package recently passed by the House of Representatives.

VHFA launches Housing Investment Fund with VCF

Vermont Housing Finance Agency (VHFA) is pleased to announce the launch of the VHFA Housing Investment Fund with Vermont Community Foundation (VCF) as its founding investor. This will be initiated with a VCF investment of $1.5 million for a pre-development program and a long-term loan program made to developers of affordable rental housing. VHFA is working to expand the fund with investments from other community partners to grow its impact.  

VHFA awards federal and state tax credits to develop and preserve affordable housing

The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced on Monday the award of federal and state housing tax credits and loans to support the development, rehabilitation or preservation of 104 permanently affordable apartments in six communities across the state.

AHP funding application opens June 8

The Federal Home Loan Bank of Boston (FHLBB)'s 2020 Affordable Housing Program (AHP) will begin to accept applications on June 8, 2020.  The program will award approximately $18.1 million in grants and low-interest loans through member institutions to organizations

VHFA awards federal tax credits for future construction of affordable apartments statewide

The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced yesterday that its annual allocation of federal housing tax credits will support the development of 130 permanently affordable apartments in five communities across the state.
 

LIHTC housing leads to higher incomes and educational attainment

New national research from the Congressional Joint Committee on Taxation finds that children who grow up in housing funded by the Low-Income Housing Tax Credit Program (LIHTC) program are more likely to enroll in higher education programs and have higher earnings as adults. The federal LIHTC program, which is administered in Vermont by VHFA, is the largest single source of funding for affordable rental housing development in the state.

VHFA seeks public comment on Tax Credit Qualified Allocation Plan

Vermont Housing Finance Agency (VHFA) is seeking feedback and comments on the Qualified Allocation Plan (QAP) that guides the agency in making housing tax credit allocation decisions. The Agency has opened the initial comment period and will close the period on Friday, April 15, 2020. The current 2020-2021 QAP is available on VHFA’s website.

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