-A A +A

Multifamily management

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.

New documents for LIHTC property owners

We've posted online a handful of new documents for owners of Low Income Housing Tax Credit (LIHTC) properties.

In a memo being sent today, Assistant Director of Multifamily Programs Kim Roy details a number of annual obligations LIHTC property owners must meet, including submitting:

Important reminder for multifamily properties

Director of Multifamily Programs Sam Falzone reminds all owners, managers and auditors of VHFA-financed multifamily properties of the March 1 deadline for audited financial statements. Meeting the deadline this year is more important than ever, since VHFA will be using your statements to make decisions about our portfolio and to update ratings agencies prior to issuing bonds to finance affordable housing later this year.

Act 68 certification schedule online

Subsidized housing managers/owners: We've posted the 2009 certification timeline and Application for Subsidized Rental Housing Certification online.

Act 68, passed by the Vermont legislature in 2003, affects the way subsidized housing buildings in Vermont are taxed. To assure your property is not taxed at the higher "non-homestead" rate, you must apply for the subsidized rental housing designation.

Learn more online.

Multifamily budget documents updated

Owners and managers of VHFA-financed multifamily properties take note: We've just posted new documents for your 2009 budgets.

As in past years, we're providing you with a memo, instructions and an Excel worksheet — the Form 805. There're also updated documents for mobile home parks — the Form 905.

All these are available for download in the "Forms, documents and memos" section of our Web site.


Subscribe to RSS - Multifamily management