The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced on Monday April 15, 2024, that its annual award of federal housing tax credits will support the construction of 156 homes in perpetually affordable apartment buildings in five communities across the state. The sale of this year’s tax credits to investors is expected to yield over $40 million in funds, covering an estimated 60 percent of total project development costs.
Press Releases
Chris Gomez appointed to VHFA’s Board of Commissioners
Governor Phil Scott has appointed Chris Gomez of Rutland to Vermont Housing Finance Agency (VHFA)’s Board of Commissioners. Chris Gomez is the President/CEO of Heritage Family Credit Union (HFCU), headquartered in Rutland Vermont.
“We are very excited to have Chris join the VHFA Board as the agency celebrates its 50th anniversary and embarks on a new chapter of strategic planning,” said VHFA Board of Commissioners Chair Katie Buckley. “The breadth of the banking and lending experience Chris brings to the Board will be invaluable.”
VHFA announces the promotion of Leslie Black-Plumeau to Director of Research and Community Relations
We are overjoyed to announce Leslie Black-Plumeau's well-deserved promotion to Director of Research and Community Relations at VHFA. Leslie Black-Plumeau was VHFA’s Research and Community Relations Manager. She has worked in research and community outreach roles at VHFA since 2004. Her expertise, dedication, and drive for excellence have elevated our work and cemented her as an invaluable asset to our team.
VHFA receives $7.5 million in federal and philanthropic awards for investments in affordable housing
Vermont Housing Finance Agency (VHFA) announced it received $7.5 million for housing through a federal award and a generous philanthropic donation. Together, these awards will support the development or preservation of over 300 affordable rental homes, as well as establishing an innovative pilot project to support smaller-scale community housing projects. The recent awards demonstrate how investments from philanthropic donors can help attract new federal funding to meet Vermont’s housing needs.
VHFA's Megan Roush Receives Rising Star Award
Vermont Housing Finance Agency (VHFA) is pleased to announce that Megan Roush, VHFA Director of Development, has been selected for the VermontBiz Recognizes Vermont’s Rising Stars Class of 2023
The autumn leaves in Vermont are not the only thing aglow this Fall! With immense joy, excitement, and hearty applause, we celebrate one of our own brilliant stars, Megan Roush, who has been rightfully crowned a Rising Star Awardee by Vermont Business Magazine (VermontBiz). This accolade, drenched in prestige and admiration, acknowledges the passionate, zealous, and innovative young leaders under 40 for their tireless contributions to business growth, professional excellence, and an unyielding commitment to their communities.
First Generation Homebuyer Program Update
The State of Vermont has renewed funding for the First Generation Homebuyer Program. Originally released as a pilot program in 2022, the program is now widely available and offers eligible homebuyers a $15,000 grant to help with down payment and closing costs. Interested homebuyers can now apply through any local VHFA participating lender (bank, credit union, or mortgage company).
VHFA announces innovative funding and state tax credit awards for 254 homes
Last week, the Vermont Housing Finance Agency (VHFA) Board of Commissioners awarded Vermont State Affordable Housing Tax Credits for homeownership development projects across the state. Once sold to investors, the credits will yield nearly $3 million in equity for downpayment assistance for newly constructed or substantially rehabilitated single-family homes as well as energy-efficient manufactured homes. Additionally, Commissioners awarded more than $8.5 million as part of the Missing Middle-Income Homeownership Development Program, which will create 180 homes across the state. Combined, these investments will support the construction or substantial rehabilitation of at least 254 homes.
Permanent Supportive Housing Assistance Program survey now open
The Vermont Agency of Human Services (AHS) is currently designing the Medicaid Permanent Supportive Housing (PSH) Assistance Program. This new program is for adults who have Medicaid and who meet certain health and risk criteria. The Program will provide people with access to help getting and keeping housing as well as the support services and connection to resources that provide rental assistance.
FEMA seeks information from residential multi-family rental property owners
Many Vermont households were displaced after July’s flooding and are in need of housing. The Federal Emergency Management Agency (FEMA) is seeking information from current rental/residential, multi-family property owners and managers in order to provide temporary housing to eligible FEMA applicants. FEMA’s Multi-family Lease and Repair (MLR) program is a form of temporary housing assistance to repair or make improvements to existing multi-family residential properties and offered as temporary housing to eligible households impacted by the flooding. The properties must be available for a term of no less than 18 months, with the option of a lease extension and able to accommodate many people in one location.
VHFA awards housing credits and loans for 139 perpetually affordable homes
The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced Monday the award of state and federal housing tax credits and loans to support the construction, rehabilitation or preservation of 139 permanently affordable apartments in four communities across the state.
“Our state continues to see numerous challenges in the construction and rehabilitation of housing combined with increasing rates of homelessness,” remarked VHFA Executive Director Maura Collins. “The Vermont development community and housing funders have joined together to make these projects possible and get more Vermonters into safe, decent and affordable homes, including those exiting homelessness.”