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VHFA News

Posted by: admin on October 10, 2007 - 7:48am

BURLINGTON— Vermont Housing Finance Agency (VHFA) Executive Director Sarah Carpenter has received the Leahy Leadership Award. The award, established in 1998, recognizes outstanding efforts of individuals to alleviate homelessness in Vermont. U.S. Sen. Patrick Leahy and Committee on Temporary Shelter (COTS) Executive Director Rita Markley presented the honor at the COTS Annual Meeting on Oct. 9 in Burlington. Carpenter received the award for her leadership in the area of affordable housing, and in particular for her many efforts to fight homelessness. These include support of the Vermont Housing Awareness Campaign, a member organization created in 2002 to address Vermont's housing shortage by promoting planning and development of housing for all Vermonters, and her guidance on the Vermont Interagency Council to End Homelessness. “We are also saluting her tireless efforts to create closer partnerships between housing developers and homeless service providers,” Markley said when presenting the award. Under Sarah’s leadership VHFA has “allocated countless hours of staff time on research and policy development to help the homeless.” VHFA has also “generously supported the statewide homelessness coalition by covering the costs for a web site (www.helpingtohouse.org) that makes exchanging information back and forth between shelters much easier and quicker.” - 2 - Carpenter joined VHFA in 1998. Before that, she spent 15 years as Executive Director of Cathedral Square Corp., a South Burlington-based non-profit organization that owns and manages properties for seniors and people with special needs. Past recipients of the Leahy Leadership Award include Gov. Howard Dean, Vermont Housing & Conservation Board Executive Director and VHFA Commissioner Gus Seelig, United Way of Chittenden County’s Gretchen Morse and others. VHFA was created by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped more than 25,000 Vermont households with affordable mortgages and financed the development of almost 7,000 affordable rental units.

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Posted by: admin on September 10, 2007 - 6:55am

BURLINGTON—Vermont is graying rapidly, and that demographic fact presents major challenges in housing and other areas, according to a new issue paper released today by Vermont Housing Finance Agency. The new publication, “Housing and the Needs of Vermont’s Aging Population,” is the third in a series of VHFA issue papers on affordable housing issues. The paper details the growing challenge of providing for an aging population in a time of rapidly-rising costs and limited resources. For example, by 2030, nearly one-fourth of Vermont’s population will be 65 or older. Many of those Vermonters will be living on modest incomes as costs for necessities like housing, health care and transportation continue to rise. “The fact that Vermont is growing older presents major challenges for us in the areas of workforce development, health care, transportation, and, of course, affordable housing,” said VHFA Executive Director Sarah Carpenter. “We need to be planning now for a future that’s not very far off.” Nancy Eldridge, Executive Director of Cathedral Square Corporation, which develops and manages properties for seniors and people with special needs, agreed. “Cathedral Square’s wait list of more than 600 people leaves no doubt about the need for more affordable senior housing,” Eldridge said. “Equally important, this housing must have services. This will require the relationships among housing and service providers adapt significantly to meet consumers’ needs.” Beth Stern, Executive Director of the Central Vermont Council on Aging, noted that good planning can also amount to lower costs. “With the state’s focus on supporting frail elders to stay at home instead of going into a nursing home, having an affordable place to live is vital,” Stern said. “As our population of older Vermonters continues to grow, we will see the need for affordable housing increase. We cannot ignore this issue.” Among the issue paper’s findings: • Vermont’s median age reached 40 in 2006; by 2030, it will be 44. The national median age will be 39 in 2030. • More than 80 percent of the population nationally is living to be older than 65, and Vermont’s senior population is likely to increase by 91,000 by 2030. • Housing costs continue to climb, and the average cost, nationally, of an Assisted Living Residence is expected to more than triple by 2030. • Thirty percent of elder Americans relied on Social Security for more than 90 percent of their incomes in 2004; the average annual Social Security payment for retired workers in Vermont was about $12,000 in 2005. Hard copies of the new issue paper are available by contacting VHFA. The paper is also available through the Agency website, www.vhfa.org; the Vermont Housing Data website, www.housingdata.org; and the Vermont Housing Awareness Campaign website, www.housingawareness.org. VHFA was created by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped more than 25,000 Vermont households with affordable mortgages and financed the development of almost 7,000 affordable rental units.

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Posted by: admin on September 4, 2007 - 3:18am

BURLINGTON—Executive Director Sarah Carpenter announced that Lisa Clark of Essex has been promoted to Senior Financial Analyst. Clark’s new responsibilities include working with the Agency’s Investment Manager and Controller to prepare quarterly and annual financial statements; and assisting in the tracking and monitoring of investments, arbitrage compliance calculations, and coordination of single-family bond trustee operational activity. She’s also responsible for coordination of all computer system needs of VHFA’s Finance Department, including process reviews, system upgrade implementations and problem resolution. Clark joined the Agency as Investment Portfolio Assistant in July 1997. Most recently, she held the position of Financial Analyst. VHFA was created by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped more than 25,000 Vermont households with affordable mortgages and financed the development of almost 7,000 affordable rental units.

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Posted by: admin on August 17, 2007 - 5:50am

BURLINGTON— Vermont Housing Finance Agency is pleased to announce its top mortgage loan originators for fiscal year 2007: Michelle Shambo, Chittenden Bank, Middlebury, Addison County; Wendy Chenaille, Bank of Bennington, Bennington, Bennington County; Cathy Clark, Northeast Home Loan/Passumpsic Bank, St. Johnsbury, Caledonia and Essex counties; Jeanne Boucher, New England Federal Credit Union, South Burlington, Chittenden and Grand Isle counties; Carol McKinney, New England Federal Credit Union, St. Albans, Franklin County; Wanda Allaire, Universal Mortgage Corp., Morrisville, Lamoille County; Wanda French, Universal Mortgage Corp., Barre, Orange County; Hope Colburn, Community National Bank, Barton, Orleans County; Laurie Laliberte, Chittenden Bank, Rutland, Rutland County; Lee Youngman, Vermont State Employees Credit Union, Berlin, Washington County; Cathy Eakins, Chittenden Bank, Brattleboro, Windham County; and Kathy Sarnes, Connecticut River Bank, Springfield, Windsor County. "We rely on loan originators at VHFA participating lenders to act as our mortgage sales force," explained VHFA Executive Director Sarah Carpenter. "We're pleased to have originators like these on our team." The Agency's top five lending institutions for 2007 are: New England Federal Credit Union, first; Chittenden Bank, second; Universal Mortgage Corp., third; Community National Bank, fourth; and Mortgage Financial Inc., fifth. VHFA has 38 participating lending institutions around the state that help homebuyers qualify for VHFA mortgage loans. VHFA has several home mortgage loan programs, all of which have income and purchase-price limits. A list of participating lenders and information about VHFA's programs and interest rates can be found on the Agency's Web site: www.vhfa.org. VHFA was created by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped more than 25,000 Vermont households with affordable mortgages and financed the development of nearly 7,000 affordable rental units.

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Posted by: admin on August 8, 2007 - 8:41am

BURLINGTON—Executive Director Sarah Carpenter announced that Ashley Lamell of Burlington has joined VHFA as Staff Accountant. Lamell is responsible for the Agency’s accounts payable and daily cash receipts functions. Lamell’s previous position was Tech Support Clerk/Technical Specialist, Cash Control, at Chittenden Services Group in Burlington. Before that, she worked several years as Office/Accounting Assistant at Central Supplies in Randolph. Lamell holds a B.S. in Accounting earned from Plymouth State University in Plymouth, N.H. She graduated summa cum laude earlier this year. VHFA was created by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped more than 25,000 Vermont households with affordable mortgages and financed the development of almost 7,000 affordable rental units.

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