On June 7th 2022, Governor Scott signed legislation that provides $15 million in funding for the Missing Middle-Income Homeownership Development Pilot Program (Missing Middle-Income Development Program). The program will be initially funded from a portion of the State’s American Rescue Plan Act funding. The program will provide subsidies and incentives for home builders to construct or rehabilitate modest homes affordable to Vermont homebuyers at 120% Area Median Income or lower.
The Missing Middle-Income Development Program is now open for applications. Applications will be considered on a rolling basis using the same schedule as the multifamily loan program available here. At the time that the initial ARPA funds are mostly expended, VHFA will issue an advance notice for final applications to be considered if additional funding is not provided for the program.
Project applicants are encouraged to contact staff at [email protected] with questions, to preview your project proposal, or to submit your application.