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Vermont Rural Ventures to receive $30 million

Vermont Rural Ventures (VRV) will receive $30 million to develop affordable housing and help stimulate economic growth in Vermont.

The funds, in the form of New Market Tax Credits (NMTC), result from the recently-passed American Recovery and Reinvestment Act (ARRA).

VRV estimates it'll fund six to 12 housing and economic development projects in Vermont as a result of the tax credits.

Seeking public comment: TCAP priorities

VHFA is seeking comments on its competitive priorities for the new Tax Credit Assistance Program (TCAP).

TCAP is part of the American Recovery and Reinvestment Act (ARRA), signed into law by President Obama on Feb. 17.

The act includes a number of enhancements to the Low Income Housing Tax Credit program for fiscal years 2007-09, including TCAP and the Credit Exchange Program, also known as Monetized Credit.

Vt. Green Home Alliance launches

A group of statewide housing organizations, including VHFA, have formed the Vermont Green Home Alliance.

The alliance, announced at a press conference at the Champlain Valley Expo this afternoon, promotes and encourages "green" building practices in Vermont.

“VHFA's been a strong supporter of energy efficiency and green building design techniques for many years," said VHFA Chief of Program Operations David Adams.

Learn about Eastview at Middlebury

eastview propertiesEastview at Middlebury, a new non-profit retirement community planned for Addison County, is holding two informational meetings this spring.

Vermont to receive $2.6 million for affordable housing

Representatives from Vermont Housing Finance Agency (VHFA), Vermont Housing & Conservation Board (VHCB) and Central Vermont Community Land Trust (CVCLT) announced Vermont will receive $2.6 million from the MacArthur Foundation.

The foundation's investment — a $600,000 grant to VHCB and a $2 million loan to VHFA — recognizes Vermont’s longstanding commitment to the preservation of rental housing.

Used in conjunction with other investments, the funding will preserve thousands of affordable apartments in Vermont over the next decade.

CBJ focuses on development, housing

The February issue of the Champlain Business Journal features a number of articles about development and housing in Vermont.

Topics cover green construction, the Vermont Neighborhoods Program, condominiums and other multi-unit buildings in Vermont, Act 250 and smart growth.

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.

Help Vermont receive $20 million grant

Vermont has the opportunity to receive a $19.6 million grant to fund activities related to the purchase, rehabilitation, or redevelopment of abandoned or foreclosed upon homes through the U.S. Department of Housing & Urban Development's (HUD) Neighborhood Stabilization Program (NSP).

To access the funding, the Vermont Agency of Commerce and Community Development (ACCD) has to submit to HUD an application and amendment to Vermont's Consolidated Plan by Dec. 1.

VHFA Board approves QAP changes

The VHFA Board of Commissioners today approved proposed revisions to the Qualified Allocation Plan (QAP).

The changes now go to Gov. Douglas for his signature.

Read our Sept. 4 post about the proposed changes to the QAP or read the red-line version of the QAP online.

New QAP draft available for review

We've placed an updated "red-line" draft of the Qualified Allocation Plan (QAP) online for your review. The draft contains a number of revisions proposed by VHFA that were not included in the recently-passed Housing and Economic Recovery Act of 2008, but based on other policy changes, feedback, and program experience. This new version will be presented to the VHFA Board of Commissioners on Sept. 22.Read our Sept.


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