2011 Annual Report to the General Assembly - Vermont Housing ...

2011 

Vermont Housing & 

Conservation Board 

Annual Report to the General Assembly

Vermont 

Housing & 

Conservation 

Board 

58 East State Street 

Montpelier, VT 05602 

telephone: 802 828 3250 

www.vhcb.org 

since 1987, supporting 

the creation of 

affordable housing 

and the conservation 

of agricultural and 

recreational lands, 

historic properties, 

and natural areas.

Vermont Housing & Conservation Board 

Christine H. Hart, Chair; Executive Director, Brattleboro Housing Authority 

David Marvin, Vice-Chair; Butternut Mountain Farm, Morrisville 

*Andrew Broderick, Charlotte 

**Chuck Ross, Secretary, Agency of Agriculture, Food and Markets 

Sarah E. Carpenter, Executive Director, Vermont Housing Finance Agency 

*John T. Ewing, Burlington 

**Denny Freshee, Brattleboro 

Roy Folsom, Farmer, Crooked Brooks Farm, Cabot 

*Robert Hofmann, Secretary, Agency of Human Services 

Michael C. Snyder, Commissioner, Department of Forests, Parks and Recreation 

G. Kenneth Perine, President, National Bank of Middlebury 

Douglas A. Racine, Secretary, Agency of Human Services 

**Bill Roper, President and CEO, Orton Family Foundation 

**Emily Wadhams, VP, Preservation Trust of Vermont; historic preservation consultant 

*Jonathan Wood, Secretary, Agency of Natural Resources 

*retired from the Board 2011; **new appointment 2011 

Agricultural Advisory Committee 

Chuck Ross, Chair; Secretary, Agency of Agriculture, Food and Markets 

Cecile Branon, Fairfield farmer 

Vicky Drew, USDA Natural Resources Conservation Service 

Dennis Kauppila, UVM Extension Service 

John Peters, Yankee Farm Credit 

Sam Burr, Monkton farmer 

Robert Paquin, USDA Farm Service Agency 

Vermont Farm Viability Program Advisory Board 

Chuck Ross, Chair; Secretary, Agency of Agriculture, Food and Markets 

Gary Braman, Loan Officer, USDA Farm Service Agency 

Rusty Forgues, Addison farmer, The Rusty John Farm 

Alex Ibey, Economic Development Specialist, Department of Economic Development 

Sarah Isham, Senior Agricultural Loan Officer, Vermont Economic Development Authority 

Douglas Lantagne, Dean, UVM Extension 

Hannah Noel, Highgate farmer, Maplewood Natural Organics 

Earl Ransom, Strafford farmer, Rock Bottom Farm & Strafford Creamery 

Bill Suhr, Shoreham apple grower, Champlain Orchards 

VHCB Staff 

Executive Director: Gus Seelig 

Financial: Anne Duffy, Kathy Barrows, Marcy Christian, John Grosvenor 

Administration: Larry Mires, Pam Boyd, Laurie Graves 

Conservation: Nancy Everhart, Billy Coster, Karen Freeman, Ethan Parke 

Housing: Polly Nichol, Willa Ruth Davidian, Rick DeAngelis, Kathleen Kanz, 

Ariane Kissam, Craig Peltier 

Lead Hazard Reduction Program: Ron Rupp, Marty Bonneau, Diane Mackay, Bob Zatzke 

VHCB AmeriCorps Program: Joan Marie Misek, Francis Sharpstene 

Vermont Farm Viability Program: Ela Chapin, Liz Gleason 

Legal: Jim Libby, Elizabeth Egan 

above: North Pawlet Hills, Joan Allen/The Nature Conservancy photo 

front cover photo: Cambridge valley, Ellen Powell 

back cover photos, top to bottom: Johnson Community Housing; 

ribbon cutting at Cedar's Edge, Essex; Ridley Brook, Duxbury 

Photography: staff, grantees, and as credited 

Writing: VHCB staff 

Design: Pam Boyd 

Printing: Stillwater Graphics

PROJECT AWARDS BY COUNTY 

1987–2011 

GRAND ISLE 

48 units 

3,257 acres 

FRANKLIN 

522 units 

34,690 acres 

ORLEANS 

313 units 

19,309 acres 

ESSEX 

13 units 

180,517 

acres 

CHITTENDEN 

3,291 units 

14,178 acres 

LAMOILLE 

201 units 

16,234 acres 

WASHINGTON 

776 units 

11,288 acres 

CALEDONIA 

388 units 

5,663 acres 

ADDISON 

682 units 

47,730 acres 

ORANGE 

344 units 

10,561 acres 

RUTLAND 

485 units 

19,471 acres 

WINDSOR 

1,200 units 

11,049 acres 

BENNINGTON 

367 units 

5,468 acres 

WINDHAM 

785 units 

9,988 acres

January 31, 2012 

Dear Governor Shumlin and Members of the General Assembly: 

photos courtesy of the Committee on Temporary Shelter, the Vermont Land Trust, and the Friends of Algiers Village, Inc. 

From top: With VHCB support, COTS and Housing 

Vermont completed housing with support services 

for veterans on Canal Street in Winooski; the 

Vermont Land Trust worked with the Town of Wells 

to conserve frontage on Lake St. Catherine, along 

with farmland sold to Rico and Jill Balzano; the 

Friends of Algiers Village, Inc. purchased and are 

renovating the historic Guilford Country Store, a 

community gathering spot. 

I am pleased to present this annual report detailing the public investments 

you have made in housing and conservation across the state of 

Vermont. Over the last 18 months, the Vermont Housing and Conservation 

Board committed funds for 778 homes and apartments, for conservation 

of 53 farms totaling 8,945 acres, for protection of 1,791 acres of natural areas 

and recreation lands, and for preservation of three historic sites. Your investments 

in these projects have provided economic stimulus, have created 

hundreds of jobs, and have improved Vermonters’ quality of life. In addition, 

your $18.2 million investment leveraged another $90 million in private 

equity, foundation funds, and federal grants for these projects. 

A fundamental element of vhcb’s work, as codified in Title 10, is “to 

consider the need for a timely response to unpredictable circumstances and 

special opportunities.” As the Executive Director of the Brattleboro Housing 

Authority, I know first-hand about unpredictable circumstances. I witnessed 

the devastation caused by Tropical Storm Irene in my community, where 

businesses suffered heavy damage and a number of residents were displaced 

from their homes. As we rebuild, we need to think carefully about flood 

prevention and flood resiliency. In the coming years, vhcb will focus on 

long-term investments in flood-proof affordable housing and land conservation 

along flood-prone waterways. 

At vhcb, the staff has been participating in a post-Irene Housing Task 

Force, conducting outreach, participating in community meetings, coordinating 

technical assistance for farmers, and working closely with the state’s 

network of nonprofit housing organizations. vhcb continues to support the 

capacity of these organizations, especially through home ownership centers, 

as they assist home owners affected by the flooding. The nonprofit network 

stands ready to aid our municipalities in their rebuilding efforts. 

vhcb conservation investments in farm and forest land along river 

corridors proactively address the challenges of climate change and promote 

flood resiliency. At the same time, these investments spur economic growth 

both in the agricultural sector and by encouraging outdoor recreation activities 

and promoting travel and tourism, maintaining Vermont’s rank as one 

of the world’s great tourist destinations. Housing investments in our town 

and village centers and in historic properties complete the comprehensive 

approach to community and economic development exemplified by the 

broad mission of the Vermont Housing & Conservation Board. 

An example of a multi-goal project this past year resulted in the conservation 

of a combination of farmland, forestland, and 2,000 feet of frontage 

on Lake St. Catherine when the Vermont Land Trust purchased and 

conserved the 300-acre Delaney Farm, a scenic property in the center of 

the town of Wells. With vhcb support, vlt sold the conserved farmland 

to a young couple, Rico and Jill Balzano, who will operate an orchard. The 

town purchased the balance of the conserved acreage to create a town forest

photos courtesy of Housing Vermont and the Vermont Land Trust 

for walking, skiing and hunting, along with 17 acres of lakefront property 

for public recreational use. Residents and visitors, along with future 

generations, will benefit from protection of the last undeveloped stretch of 

shoreline in town. Securing public resources today for permanent public 

access is a hallmark of vhcb investments. 

In December, our Board toured the new veterans’ housing project on 

Canal Street in Winooski that was built by the Committee on Temporary 

Shelter and Housing Vermont with vhcb funding. The building now 

provides housing and support services for 30 veterans of the u.s. military. 

Other projects where vhcb funding was integral include the rebuilding of 

the fire-damaged Ellis Block in downtown Springfield, the restoration of the 

vacant, former Ethan Allen manufacturing site in Randolph as affordable 

housing, the rebuilding of Forest Park (an aging public housing development 

in Rutland), and the restoration of two historic, long-vacant or 

under-utilized buildings (a school and a convent) in West Rutland. 

The Board’s work over the last year has also focused on increasing the 

energy efficiency of our existing affordable housing portfolio. New Board 

policies in this area will promote the use of renewable energy sources and 

will help to enhance the energy efficiency of apartment buildings all across 

the state. 

We look forward to working with the General Assembly to help Vermont 

rebuild and reinvest in the housing and conservation infrastructure that 

make Vermont such a great place to live and do business. 

Sincerely, 

Christine H. Hart 

Board Chair 

From top: After a fire the Springfield Housing Authority and 

Housing Vermont rebuilt 9 apartments above the theater in 

downtown Springfield, restoring the Art Deco relief; family 

rental housing in Morrisville developed by the Lamoille 

Housing Partnership and Housing Vermont; the Duxbury 

Land Trust conserved acreage at Ridley Brook; new rental 

housing at Hickory Street (formerly known as Forest Park), 

a public housing development in Rutland. 

2

HOUSING PROGRAMS 

During state fiscal and calendar year 2011, vhcb and its partners 

continued to focus on preserving and sustaining existing affordable 

housing while also creating additional housing to meet the needs of 

lower-income Vermonters. Special opportunities presented by a three-year 

housing preservation grant received in 2009 from the MacArthur Foundation 

and a two-year arra State Energy Program grant allowed us to not only fund 

new housing but also to focus on the existing portfolio as well. 

In the last 18 months nearly 800 units of rental housing received some type 

of housing funding from vhcb in fiscal and calendar year 2011—State funds, 

home funds, hud Economic Development Initiative Special Project Funds, 

and/or hud Neighborhood Stabilization Program funds. In addition, vhcb 

awarded money to the state’s homeownership centers and Habitat for Humanity 

chapters to facilitate homeownership for 30 Vermont households. A grant to 

the Vermont Center for Independent Living’s Home Access Program funds 

accessibility modifications to approximately 84 homes occupied by Vermonters 

with physical disabilities. At the end of the year, much of the Board’s housing 

focus was on communities or areas of the state that were adversely impacted by 

Tropical Storm Irene. 

During the 18-month period covered by this report, vhcb funding 

supported the purchase and rehabilitation of five federally subsidized developments 

with apartments for families, improving the physical environment and 

preserving long-term affordability. Two mobile home parks were able to make 

infrastructure improvements and service-supported housing was created for 

homeless families and individuals and for persons leaving the correctional facilities 

and recovering from substance abuse. vhcb committed state and federal 

dollars to rebuild after fires in downtown Springfield and Montpelier, to turn an 

administrative building in Brandon into housing for families and to demolish 

and rebuild deteriorated public housing in Rutland. vhcb also funded new 

Fiscal Year 2011 

HOUSING 

State Funding Commitments 

$6,127,495 

392 units; 28 projects 

Federal Funding Commitments 

HOME Program 

$4,444,664 

Housing Vermont photo 

Lead-Based Paint 

Hazard Reduction Program 

$ 573,293 

Neighborhood Stabilization Program 

$1,289,000 

. 

Top: New housing developed in Johnson by Housing Vermont 

and the Lamoille Housing Partnership. Left: In West Rutland 

the Housing Trust of Rutland County created 21 affordable 

apartments in the former St. Stanislaus Kostka School and the 

adjacent convent. The development is a prototype for energy 

efficiency in an historic building. 

3 

Housing Trust of Rutland County photo

AWARDS AND RECOGNITION 

• The State of Vermont HOME Program, administered 

by VHCB, won a HUD Doorknocker Award for 

capacity building among community-based, nonprofit 

housing development organizations. 

• LeadingAge, a national organization, honored 

Nancy Rockett Eldridge, executive director of 

Cathedral Square Corporation, for bringing people 

together to tackle the issues of affordable housing 

and health care and for her leadership in pioneering 

Support And Services at Home (SASH), a program 

linking housing and health care services. 

• The Champlain Housing Trust and the City of 

Burlington won a HUD HOME Doorknocker Award 

for their model of sustainable, affordable housing 

at 88 King Street. 

• AIA VT awarded Duncan Wisniewski Architects 

and Naylor & Breen Builders with an Honorable 

Citation for Public Housing for Hickory Street 

in Rutland; Bob Duncan received the People’s 

Choice Award for Canal Street Veterans’ Housing 

in Winooski. 

• Tom Bachman of Gossen Bachman Architects was 

honored by the Boston Society of Architects with 

the John M. Clancy Award for Socially Responsible 

Housing for Union Square Apartments in Windsor. 

Above: On North Avenue in Burlington’s New 

North End, the Champlain Housing Trust and 

Housing Vermont are developing 33 new 

affordable homes for families as part of an 

infill development with senior and market rate 

housing. The $7.6 million development, which 

is close to services and served by public transportation, 

will have solar hot water and will be 

highly energy efficient. 

residential communities for seniors in Vergennes and Burlington and for 

families in Newport, Essex, Burlington, Bennington and Guilford. Additionally, 

grants were provided to increase the energy efficiency in developments undergoing 

relatively minor rehabilitation. 

vhcb continued to support affordable homeownership both the through the 

buyer-initiated Homeland Program as well as by subsidizing homes in condominium 

or subdivision developments. hud Economic Development Initiative 

funds were used to create a land bank to secure sites in prominent downtown 

or village center locations for future development as affordable housing. The 

Board also awarded money to facilitate the acquisition of the assets of the 

former Rockingham Area Community Land Trust by the Windham Housing 

Trust, now known as the Windham & Windsor Housing Trust, as well as to help 

the state’s five homeownership centers provide assistance to Vermonters who 

suffered significant damage to their homes from Tropical Storm Irene. 

vhcb also continued to focus on increasing the energy efficiency of the 

state’s non-profit owned affordable housing stock in order to position those 

properties for a sustainable future. A number of the activities in the MacArthur 

Foundation grant support these efforts along with supplemental funds from 

the High Meadows Fund and the Doris Duke Charitable Foundation. Federal 

arra State Energy Program funding for 725 apartments in 88 buildings will 

result in energy savings averaging 37% and as high as 69% in some cases. The 

majority of these retrofits include installation of solar domestic hot water and 

many include installation of more energy efficient mechanical systems as well 

as insulation and air sealing. arra State Energy Program funding across the 

88 buildings will result in annual savings of over 2.3 million cubic feet of natural 

gas, over 100,000 gallons of oil or propane and approximately 485,000 kilowatt 

hours per year in electrical savings. In addition, on-site solar domestic hot water 

systems installed under this program will generate the equivalent of 350,000 

kilowatt hours per year of energy. All of these projects were highly leveraged 

through successful partnerships with the Vermont Fuel Efficiency Program and 

regional weatherization programs, with a dollar of funding from vhcb’s arra 

State Energy Program leveraging over $4 in other funding. 

vhcb-funded developments are located in all corners of the state, from 

Bennington to St. Albans and from Guilford to Derby. In keeping with the 

vhcb mission, nearly all are located in downtown, village center or growth 

center locations, or create logical extensions of residential neighborhoods; many 

are in historic buildings. 

4 

Champlain Housing Trust photo

CONSERVATION 

PROGRAMS 

During the past 18 months, VHCB committed funds to conserve 53 farms 

in 11 of Vermont’s 14 counties. VHCB investments also protected 18 

conservation properties of statewide or local significance, and contributed 

to the purchase and/or restoration of three historic buildings. Over this 

same period, VHCB’s strong public/private partnerships leveraged an additional 

$15.5 million in federal funding, private foundation funding, bargain sales and 

local fundraising, multiplying the impact of the state’s investment. 

Weather events in 2011 brought multiple challenges for Vermont farmers and 

homeowners, beginning with spring flooding and followed by the momentous 

Tropical Storm Irene in late August that affected thousands of acres of Vermont’s 

farm fields and over 700 homes. Governor Shumlin has identified Irene as an 

event that may be linked to climate change. If this is so, then we need to prepare 

for future storms by limiting development in key areas, and by maintaining 

healthy forests, wetlands, and floodplains, so that more surface water runoff can 

be slowed and absorbed. 

VHCB has been working closely for several years with the state’s River 

Management Program and other partners to include river corridor protections 

in farm easements where it makes sense and landowners are interested; in light 

of the extreme flooding of 2011, we will focus even more effort on protecting 

river corridors and floodplain areas, as part of both our farmland conservation 

and our natural area/public recreation work. 

AGRICULTURAL LAND CONSERVATION 

Despite the weather-related challenges of the past year, Vermont’s agricultural 

economy is in the midst of a renaissance, fueled by creative agricultural 

entrepreneurs working to meet the growing consumer demand for healthy, 

locally produced food. The Farm to Plate ten-year vision for Vermont’s food 

system and the Working Landscape Action Plan have engaged hundreds of citizens 

and multiple partners in a collaborative and concerted effort to strengthen 

our agricultural and forest economies while stepping up the conservation of 

the working landscape. VHCB and its farmland conservation partners assist 

increasingly diverse types of farm operations, ranging from conventional and 

organic dairies, to orchards, vineyards, beef farms, diversified livestock and 

vegetable operations, crop farmers and CSA (community supported agriculture) 

operations. 

Farmers sell conservation easements to help facilitate transfers, both within 

the family and to new farm buyers (more than one-third of all projects), to pay 

down debt, and to expand and/or diversify their operations. 

The federal Farmland Protection Program, administered by the USDA 

Natural Resources Conservation Service, continues to provide a key source of 

matching funds for all of VHCB’s farmland conservation projects, providing 

roughly half of the funding for every conserved farm. 

5 

Above Farm fields; The Lawton family worked with the 

Vermont Land Trust to conserve 410 acres of farmland in 

Bridport abutting their conserved, 400-acre home farm. 

Fiscal Year 2011 

CONSERVATION 

State Funding Commitments 

Agricultural Land: 

$2,769,186 

27 farms; 4,697 acres 

Natural Areas, 

Recreational Lands, 

& Historic Properties: 

$1,139,856 

10 projects; 682 acres; 

2 historic properties 

Federal FundS 

USDA Natural Resources 

Conservation Service Farm 

and Ranchland Protection Program: 

$3,429,500 

Bob Eddy photo 

Vermont Land Trust photo

Top to bottom: The Catamount Trail Association used 

VHCB funds to purchase a trail easement in Lowell, 

establishing a protected backcountry ski trail 

corridor from the top of the Lowell Mountains to the 

base of Hazen’s Notch that is over 6 miles in length; 

Harvey and Donna Smith sell naturally raised beef 

on their New Haven farm, conserved this year 

with the Vermont Land Trust; Bikers enjoy a ride in 

Barre’s historic quarry area on Millstone Hill. The 

Trust for Public Land is working with the Town of 

Barre to conserve 343 acres with an expansive trail 

system. 

Catamount Trail Association photo 

Millstone Trails l Association photo Vermont Land Trust photo 

NATURAL AREAS and RECREATIONAL LANDS 

Conservation projects over the past 18 months include investments in two 

town forests and recreational areas with miles of existing trails (Millstone Hill 

in Barre and Cady Hill in Stowe), and three additions to Nature Conservancy 

Preserves in Fair Haven, Guildhall and Dummerston. VHCB also funded three 

riparian projects protecting habitat and providing public access, in Middlesex, 

Duxbury and Enosburgh, as well as the acquisition by the town of Wells of lakeshore 

property and town forestland. 

HISTORIC PROPERTIES 

In fiscal and calendar year 2011, the board invested in historic buildings 

available for public use in Brighton and Stowe, helping to protect Vermont’s 

cultural landscape, a critical component of our state’s identity and appeal to residents 

and visitors alike. VHCB works with the Preservation Trust of Vermont 

and local towns and historical societies to protect historically-significant public 

buildings in Vermont’s downtowns and village centers. 

ECONOMIC and ENVIRONMENTAL BENEFITS 

Conservation helps keep farmland in farming and forestland forested—in 

other words, maintains the working landscape treasured by both locals and 

tourists. Investments in our working landscape strengthen the agricultural and 

forestry industries, enhancing those economies. Protecting recreational lands 

reaps economic benefits as well. For example, a study of one popular mountain 

bike center in East Burke estimated that bikers contribute $1.5 to $2 million to 

the local economy each year. VHCB’s contribution to major conservation and 

recreation projects that include mountain bike trails in Barre and Stowe will 

help to support multiple businesses in those areas. 

Conservation investments in farm and recreation lands along river corridors 

promote flood resiliency, preventing development in areas needed by rivers to 

access their natural floodplains, which in turn mitigates impacts on alreadydeveloped 

village centers and downtowns. Protecting public access to trails 

and to water augments public health efforts by providing opportunities for 

Vermonters to get outside and exercise, whether by walking, swimming, biking, 

hunting or skiing. Attractions like the Long Trail, the Catamount Trail and 

the Cross Vermont Trail attract hikers, skiers and cyclists, bringing millions in 

tourist dollars into the state. 

6

Vermont Farm Viability Program 

The Vermont Farm Viability Program (vfvp) provides business planning, 

technical assistance and implementation grants to Vermont farmers and 

ag-related businesses. Businesses receive individually tailored services from 

advisors at the Intervale Center, nofa-vt, uvm Extension or through 

private consultants.The program builds Vermont’s agricultural infrastructure 

and increases the supply and distribution of Vermont agricultural products 

while also improving the viability of Vermont farms. 

2011 Program Highlights 

• The program enrolled 60 farms and 17 ag-related businesses for technical 

assistance and business planning services and awarded $183,520 in implementation 

grants to farmers and agricultural processing, distribution and 

marketing businesses. The grants pay for equipment, facilities, marketing 

materials, and conservation investments. 

• The Farm Viability Program continued to partner with the Vermont 

Sustainable Jobs Fund to successfully launch the Vermont Agricultural 

Development Program (vadp). With support from aic and private foundations, 

the vadp is now providing in-depth technical assistance to eight 

key food and ag-related businesses. 

• Using an award from the Vermont Agriculture Innovation Center ( aic), 

which was created with funding secured by Senator Leahy, the Farm 

Viability Program partnered with the Vermont Food Venture Center, the 

Center for an Agricultural Economy and nofa-vt to extend business 

planning and technical assistance services to ag-related businesses and 

value-added enterprises. 

• Also with funding from the aic, the Farm Viability Program extended 

its business planning and technical services to meet the needs of meat 

producers and processors, in order to expand Vermont’s capacity to meet 

the local, regional and national demand for Vermont meat products. 

Above, farmers Americo and Jill Balzano 

worked with the Viability Program on a 

business plan for their plan to develop 

an orchard at their new property in 

_______. 

The Vermont Food Venture Center 

at the groundbreaking ceremony 

in Hardwick. 

photo: Center for an Agricultural Economy 

Johannes Kroemer photo 

7 

Left: Pete Colman works up a batch of artisanal 

sausage for his start-up business, Vermont Salumi 

Above, from top: Chris Siegriest, Bread and Roses 

Farm, Westford; Ben Gleason shows off new grain 

milling equipment financed in part by the Farm 

Viability Program; Clark Parmelee raises poultry, 

beef, and pork on his farm in Randolph and offers 

mobile poultry slaughtering services to farmers with 

new equipment purchased last year.


AmeriCorps 

VHCB AmeriCorps engages 31 AmeriCorps members to serve with 25 housing, 

environmental and energy conservation organizations statewide, expanding the 

ability of these groups to mobilize volunteers and provide services including 

emergency shelter, housing placement, financial literacy, environmental 

education, invasive species management, and more. Members provide essential 

services while also developing leadership and job skills. 

2011 Program Highlights 

From top: Happy campers in an after school program 

at an affordable housing development staffed by a 

VHCB AmeriCorps member; Member Jessamy Schwartz 

giving a live raptor demonstration in her position at the 

Vermont Institute for Natural Science; VHCB Ameri- 

Corps members were on hand to help homeowners in 

downtown Waterbury following the flooding caused by 

Tropical Storm Irene. 

For more information, 

visit: www.vhcb.org/acorps 

• VHCB was awarded a highly competitive, $1.1 million, 3-year grant to 

continue the Program, allowing it to expand its priorities to include energy 

efficiency. 

• The overwhelming majority of sponsoring organizations report their 

member has a significant impact on their reach, quality and range of services. 

• Nearly 100% of members last year reported completing the Program better 

equipped to address issues facing their community and to secure employment. 

• Each year, members directly assist an average 9,000 Vermonters with 

housing needs, including emergency shelter, financial literacy, and/or 

transition into permanent housing. 

• In the last grant round, members mobilized over 4,000 volunteers who 

provided child care, trail work, fundraising, construction of wheelchair ramps, 

and more. 

• Each year, over 7,000 youth participate in land stewardship activities 

through environmental programming led by members at nature centers, 

day camps and schools. 

• Together with volunteers, members annually steward an average of 15,000 

acres of conserved and public lands. 

• Through weatherization and other energy efficiency measures, members 

helped reduce energy consumption of 730 affordable housing units over the 

last three years. 

• 21% of last year’s members were hired on by their sponsoring organization. 

8

Vermont Lead Hazard Reduction Program 

In early 2011 VHCB was awarded a $3.1 million Lead Hazard Control Grant 

from HUD to assist more than 230 homes and apartments throughout 

the State through 2013. Since 1994, the program has controlled lead paint 

hazards in more than 2,000 units of housing serving low-income families. 

Over half of these units were assisted as part of major rehabilitation projects 

completed by Vermont’s strong network of non-profit housing developers and 

land trusts, and will thus remain perpetually affordable. 

The VHCB Lead Program provides technical assistance and direct funding 

for mitigation of lead paint hazards. Typical projects include window replacement, 

friction surface treatments, paint stabilization, and rigorous cleaning. 

Residents are relocated during the work and cannot return until clearance dust 

testing confirms their unit is safe. Technical assistance includes identifying all 

lead-painted surfaces, conducting a risk assessment, developing project specifications, 

assistance with contractor bidding, lab analysis and other services. 

Eligibility is based primarily on the income of the residents, be they owneroccupants 

or tenants. 

The program offers free training to meet the requirements of Vermont’s lead 

paint law for landlords, contractors, property managers and others. With its 

partners the Vermont Department of Health, Parks Place Community Center in 

Bellows Falls, and the Vermont Lead Safety Project, the VHCB Lead Program 

works to educate all Vermonters about how to prevent lead poisoning. Vermont 

has a lot of old housing, the majority of which was built before lead paint was 

banned in 1978. Because lead poisoning causes permanent, irreversible damage 

to young children, prevention is the only effective strategy. 

The HUD grant received this year includes an additional $100,000 to address 

other health and safety issues identified in enrolled properties and to train 

housing professionals in healthy homes principles. This additional funding 

is indicative of recent federal efforts by HUD, CDC, and EPA to take a more 

holistic approach to providing assistance for housing rehabilitation and hazard 

mitigation. 

The VHCB Lead Program has benefitted from the long-time service of 

current staff, two of whom have been with the program since 1996: 

Parents, landords, contractors, property 

managers and others: for information 

about lead paint safety, applicable regulations, 

and a schedule of free training 

sessions, visit www.LeadSafeVermont.org 

Homeowners and in-home day care 

providers: to learn more about technical 

and financial assistance from the VHCB 

Lead Paint Program, call: 1-800-290-0527 

or 802-828-5064 or visit: 

ww.vhcb.org/lead.html 

Remember, lead poisoning 

is always preventable. 

Ron Rupp, Program Director (15 years) 

Martin Bonneau, Senior Project Designer (15 years) 

Robert Zatzke, Program Coordinator (13 years) 

Diane Mackay, Program Assistant (6 years) 

9

Vermont Housing & 

Conservation Board 

Balance Sheet 

June 30, 2011 

General Funds 

Restricted Funds 

ASSETS 

Cash Accounts $ 4,713,474 $ 1,445,063 

Due from Other Funds 565,390 476,829 

Receivables 15,775 45,449 

Loans Receivables 90,730,274 46,495,114 

Due from State of Vermont - 6,226,393 

Administrative Reimbursements Receivable - 3,480,126 

Anticipated Grant Revenues 3,074,405 17,250,853 

TOTAL ASSETS 99,099,318 $ 75,419,827 

LIABILITIES and FUND EQUITY 

LIABILITIES 

Accounts Payable & Accruals $ 180,503 $ 21,566 

Due to Other Funds 476,829 565,390 

Due to the State of Vermont - 2,949,534 

Deferred Revenue – Loans 90,730,274 46,223,419 

Anticipated Grants Committed 3,074,405 17,250,853 

Long-term Debt - 271,695 

TOTAL LIABILITIES 94,462,011 67,282,457 

FUND EQUITY 

Fund Balances 

Restricted for Project Commitments 4,522,009 6,164,281 

Restricted for Programs - 1,973,089 

Assigned 70,599 - 

Unassigned 44,699 - 

TOTAL FUND EQUITY 4,637,307 8,137,370 

TOTAL LIABILITIES and FUND EQUITY $ 99,099,318 $ 75,419,827 

To receive a copy of the audited financial statement, please contact VHCB. 

10

Revenues 

$24,819,081 

State Capital 

Appropriation 

16% 

Other Income 

3% 

State Property 

Transfer Tax 

25% 

Federal Grant 

Revenue 

56% 

Other Project 

Related Expense 

6% 

Administration 

9% 

Expenditures 

$25,959,175 

Grants and Loans 

85% 

A complete list of VHCB funding commitments for the period covered by this report is 

available on our website at www.vhcb.org/publications.html 

Application deadlines, Board meeting dates and VHCB policies are available from the VHCB 

office and are posted on the Board’s web site (www.vhcb.org). Applications are available by 

request. Applicants should call staff prior to completing an application. Site visits by VHCB staff 

are required prior to submission of housing applications. 

Please call us at 828-3250 for more information or with any questions. 

11

Vermont Land Trust photo 


Photo by Joseph Gresser/BartonChronicle.com 

Millstone Trails Association photo 

photos from top, left to right: Wayne Stearns 

Farm, Ferrisburgh: When a 92-acre field 

went on the market, 27 neighbors bought the 

property, conserved the land with the Vermont 

Land Trust, using VHCB and NRCS funding, and 

sold it to the farmer. Ellis Block, Springfield: 

After a downtown fire, nine apartments were 

restored, along with an art deco relief and movie 

theater. Vermont Food Venture Center, 

Hardwick: Senator Leahy cuts the ribbon at 

this facility which was supported in part by HUD 

EDI funds administered by VHCB; Barre Town 

Forest: A VHCB grant to the Trust for Public Land will help the Town of Barre acquire 343 acres of former quarry lands with a 

70-mile trail network for recreational use and forest management; Barre Street Senior Housing, Montpelier Housing 

being developed on the upper stories of the senior center by Capital City Housing Foundation will generate 85% of its own energy. 

12


Annual Report to the General Assembly 

Funding Commitments 

FY 2011 and July—December 2011

Housing Awards July 2010– December 2011 

Barre Street Senior 

Housing, Montpelier 

Following a fire, the City of Montpellier 

donated this building to 

Capital City Housing Foundation, 

Inc., a subsidiary of the Montpelier 

Housing Authority, and to the 

Montpelier Senior Center. CCHF 

will create 14 apartments on 

the upper stories for seniors and 

persons with disabilities. USDA 

Rural Development will provide 

rental subsidies for 12 households. 

The ground floor and part of the 

second story will host the Montpelier 

Senior Center. While keeping 

the historic features intact, solar 

photovoltaic cells, a wood pellet 

boiler, super insulation, solar hot 

Addison County Community Trust 

Organizational Development Grant. 

$33,300 award for organizational development 

costs. $20,373 federal CHDO award. 

Total organizational budget: $1,440,000 

Burlington Housing Authority 

Wharf Lane Commons, Burlington. 

$725,000 VHCB award for acquisition 

and rehablitiation of 37 units of federally 

assissted units of rental housing at risk of 

conversion to market rate. $200,000 HUD 

Special Purpose Grant. Total development 

costs: $8,655,835 

King Street, Burlington. $400,000 

VHCB award to develop 16 rental units 

targeted to individuals who are homeless, 

at-risk of homelessness, or in need 

of service-supported affordable housing. 

Project-based rental subsidies and service 

coordinator provided by the Burlington 

Housing Authority (position funded by 

the Agency of Human Services). Total 

development costs: $2,200,000 

Capital City Housing Foundation 

58 Barre Street, Montpelier. $350,000 

VHCB award to develop 14 units of 

housing for seniors and persons with 

disabilities on the upper stories of a firedamaged 

building that formerly housed 

the senior center. 85% of energy consumption 

generated/conserved on site with 

super insulation, photovoltaic electricity 

generation, solar hot water, wood pellet 

boiler, energy efficient lighting and heat 

exchange ventilation. Historic building 

donated by the City; $105,000 in Montpelier 

Housing Trust Funds; $321,600 

HOME Program award; $70,000 ARRA 

funding from the Vermont Clean Energy 

Development Program. USDA Rural 

Development 515 Program funding and 

rental assistance. Total residential development 

costs: $3,240,700 

Cathedral Square Corporation 

3 Cathedral Square, Burlington. $325,000 

VHCB award for the refinance and 

rehabilitation of 108 apartments for 

elderly residents with rental assistance 

in downtown Burlington. The development 

includes 28 units of assisted living. 

$50,000 VHCB energy grant for photovoltaic 

installation. Cathdral Square will sell 

surplus power back to Burlington Electric. 

$400,000 HUD Green Retrofit Award. 

Total development cost: $6,920,259 

Thayer Senior Housing Phase I, Burlington. 

$593,095 VHCB award to develop 

33 units of new construction, infill senior 

housing in the New North End adjacent 

to Leddy Park. Three stories with underground 

parking, in collaboration with 

Champlain Housing Trust and developer 

Eric Farrell, as part of a larger, intergenerational 

development including family 

rental housing and market rate housing. 

Other funding sources include $283,000 

HUD EDI Special Purpose Grant, NSP, 

Burlington Housing Trust Fund, Effi- 

Phoenix House, Burlington. $162,000 

water, energy efficient lighting VHCB award to develop a 19-bed servicesupported 

transitional housing facility 

and heat exchange ventilation will 

for people leaving the correctional system 

allow the building to generate 85% 

and recovering from substance abuse. 

of its own energy. 

One bedroom for an on-site manager. 

Total development costs: $862,000 

ciency Vermont, bargain sale of the lot. 

2 Total development costs: $7,915,137 2

Housing Awards July 2010–December 2011 

Phoenix House, Burlington 

provides housing and support services 

for men recovering from drug and 

alcohol abuse. VHCB funding helped 

Burlington Housing Authority to 

purchase and rehabilitate this Victorian 

house and lease it to Phoenix 

House. Residents participate in a 

3- to 24-month sober living program 

featuring weekly recovery groups, 

individual therapy, and self-help 

meetings. 

Thayer Senior Housing Phase II, Burlington. 

$600,000 VHCB award to develop 

an additional 32 units of new construction, 

infill senior housing in the New 

North End adjacent to Leddy Park. (See 

above description.) 



costs. Total organizational budget: 

$1,300,261 

Central Vermont Community Land Trust 

Whistlestop and Verdmont Mobile Home 

Parks, Bradford and Waitsfield. $250,000 

VHCB award to refinance and upgrade 

infrastructure in two CVCLT-owned 

mobile home parks with a total of 41 lots. 

Stormwater, electrical and water systems 

will be improved at the Waitsfield 

park. Site work in Bradford will include 

grading, new catch basins and removing 

trees. Road and driveway paving, connection 

to town water (Verdmont) and 

sewer (Whistlestop). Concrete slabs will 

be poured under homes upon turnover. 

Total development costs: $1,132,500 





Champlain Housing Trust 



costs. $20,373 federal CHDO 

award. Total organizational budget: 

$6,825,668 

Cedar’s Edge, Essex. $62,815 VHCB 

award for new, 30-unit multi-family 

rental development. $337,185 HOME 

Program award. $231,325 HUD Special 

Project Grant. Total development costs: 

$5,403,525 

City Neighborhoods, Burlington and 

Winooski. $508,348 VHCB award to refinance 

and improve 10 buildings with 

40 units. Energy improvements include 

conversion to central, high-efficiency 

heating systems in each building and 

installation of high levels of insulation 

and weatherization resulting in an overall 

30-50% reduction in fuel usage. $236,652 

HOME Program award. $76,315 ARRA 

State Energy Program funding. Total 

redevelopment costs: $6,825,000 

Harrington Village, Shelburne. $500,000 

VHCB award for construction of 42 

affordable homes in Shelburne village. 

$950,000 HOME Program award. Total 


photo: Phoenix House: Rising Above Addiction 

Pine Manor Senior Housing, Alburgh 

Village. $240,000 federal HOME funds 

and $46,882 ARRA State Energy Program 

funding for acquisition and renovation of 

16 apartments for elderly residents with 

rental assistance. Pine Manor is located 

in Alburgh’s designated village center. 

Solar hot water. Total development cost: 

$2,160,333 

Avenue Apartments, Burlington. 

$600,000 VHCB award for new construction 

of 33 units of family housing in the 

New North End neighborhood of Burlington. 

Part of a planned redevelopment 

of a large parcel on North Avenue to 

include senior and market rate housing 

close to services on public transportation 

route. City of Burlington $500,000. 

Bargain sale of the lot by the state of 

Vermont. Solar hot water, high energy 

efficiency standards. $150,000 HUD EDI 

award. Total development costs: 7,617,222 

Gilman Housing Trust 

Governor Mansion Apartments, Newport 

City. $280,612 HOME Program award for 

15 senior housing apartments. $22,459 

ARRA State Energy Program funds. Total 

development costs: $608,266 

3


Housing Foundation, Inc. 

Depot Street Apartments, Bethel. $107,820 

VHCB award to rehabilitate two buildings 

with 6 family rental and senior apartments, 

all with HUD rental assistance, 

located in the center of the village. Rehab 

to include new siding, insulation, interior 

renovations, new roofs, a new boiler and 

heating system, and rebuilding the entries 

and stairs. Extensive site work to address 

moisture problems: a new retaining wall, 

grading of the site, repair walkways. New 

water service, cutting back trees. $462,230 

HOME Program award. $58,481 ARRA 

State Energy Program funding. Total 


4 

Newport Family Housing 

In downtown Newport, the Gilman 

Housing Trust and Housing 

Vermont are redeveloping five 

buildings with 21 new and existing 

units. The partners will construct 

14 new apartments in two new 

buildings, rehabilitate seven 

apartments in three existing buildings, 

and demolish five substandard 

buildings. This smart 

growth project will increase the 

density on Newportís Main Street, 

providing a positive boost to the 

vitality of the downtown area. 

VHCB provided funding for the 

acquisition and rehabilitation, plus 

federal HOME funds to increase 

affordability. Energy efficiency 

improvements will help the buildings 

remain sustainable into the 

future. photo: Gilman Housing Trust 

St. Johnsbury Housing, St. Johnsbury. 

$450,000 HOME Program award 

for rehabilitation of 24 rental apartments. 

USDA Rural Development rental 

assistance. 

Hotel and Kidder, Derby. $174,423 

VHCB award to make energy efficiency 

and other improvements to two, adjacent, 

historic apartment buildings with 

14 existing apartments in the center 

of Derby Village. Lead paint hazard 

reduction; new solar hot water system. 

$318,557 HOME program award. Total 


Newport Family Housing. $135,847 

VHCB award for costs related to redeveloping 

21 new and existing units of multifamily 

rental housing on 3 contiguous 

properties in the designated downtown 

area to create a more efficient and attractive 

site plan. $279,539 HOME Program 

award. $87,500 federal NSP funds. Total 






River Bend Senior Housing, Enosburg. 

$402,165 VHCB award and $395,000 

federal HOME funds for purchase and 

renovation of 30 apartments with rental 

assistance for elderly residents. The 

work includes installation of a solar hot 

water system. Total development costs: 

$3,679,915 

Housing Trust of Rutland County 

Green Village Apartments, Brandon. 

$250,000 VHCB award for development 

of 27 apartments. $550,000 HOME 

Program award. Total development costs: 

$4,993,500 




Total organizational budget: $700,168 

Housing Vermont and Springfield 

Housing Authority 

Ellis Block, Springfield. $411,000 from 2 

federal NSP awards for development of 9 

affordable, downtown apartments above a 

movie theater that was damaged in a fire. 

Total development costs: $3,446,497 

John Graham Shelter 

Mountain Street Transitional Housing, 

Bristol. $88,000 award for the purchase 

and redevelopment of a building to 

provide 5 units of transitional housing for


homeless households. Case management 

services are provided to assist residents to 

develop and achieve individualized work 

plans. Total development cost: $296,000 

John Graham Shelter, Vergennes. $197,000 

VHCB award for rehabilitation of homeless 

shelter providing food, housing and 

case management services. Reconfiguration 

to create 3 new shared rooms on 

the 1 st floor (2 wheelchair accessible) for 

a total of 10 beds overall. New sprinkler 

system, boiler and water heater, upgrades 

to plumbing and electrical systems. New 

siding, roof and south porch, foundation 

repairs and energy improvements. Total 


Lamoille Housing Partnership 

Morrisville Scattered Site, Morristown. 

$148,500 VHCB award for rehabilitation 

of 16 apartments in the village. $142,000 

HUD Special Purpose Grant. $49,513 






Total organizational budget: $283,142. 

Peacham Community Housing 

and Housing Vermont 

Peacham Academy Housing, Peacham. 

$150,000 VHCB award to rehabilitate 6 

rental units located in a former school 

building in the village. New high efficiency 

boiler, refinance and energy 

efficiency. Roof replacement, major maintenance 

of the septic system, new kitchen 

and bath fixtures and appliances. Total 

development cost: $319,106 

Regional Affordable Housing Corp. 

Roaring Branch and North Branch 

Apartments, Bennington. $311,536 VHCB 

award to develop 14 new units and rehabilitate 

and reconfigure 12 existing 

units owned by RAHC. Construction 

of 7 energy efficient duplexes on North 

Branch Street. Existing units to be 

weatherized and insulated, with new interior 

finishes. $438,464 HOME Program 

award. $200,000 HUD EDI award. Total 

development costs: $6,473,000 Organizational 

Development Grant. $33,300 award 

for organizational development costs. 

$20,373 federal CHDO award. Total organizational 

budget: $336,440 

Richford Renaissance 


Missisquoi Manor, Richford Village. An 

award of $195,000 federal HOME funds 

and $34,250 ARRA State Energy Program 

funding for acquisition, rehabilitation 

and energy retrofit of 24 apartments for 

elderly residents with rental assistance 

located a few blocks from Richford’s main 

street and downtown. Solar hot water. 

Total development cost: $1,715,737 

Rockingham Area 

Community Land Trust 




Total organizational budget: $785,000 

Ellis Block, Springfield 

Following a fire in 2008, the 

Springfield Housing Authority 

and Housing Vermont restored 

the Ellis Block in Springfield. 

Located in the heart of the 

downtown area, the building 

has been redeveloped with nine 

one-bedroom apartments on the 

upper stories. VHCB provided 

federal Neighborhood Stabilization 

Program funds for the 

redevelopment. The Springfield 

Housing Authority is providing 

project based rental assistance 

for four apartments. During 

rehabilitation of the exterior, 

the Art Deco-style relief was 

discovered under a brick wall and 

restored. 


5


Twin Pines Housing Trust and 

Housing Vermont 

Graystone Village Energy Retrofit, Hartford. 

$162,500 award for energy conservation 

measures for 34 apartments. $150,000 

HOME Program award. 

Vermont Community Loan Fund 


$18,479 VHCB award for organizational 

development costs. Total organizational 

budget: $1,339,000 

6 

Hickory Street, Rutland 

Completed last fall, the first phase 

of this ambitious, $8.4 million 

redevelopment of Forest Park, a 

deteriorated 75-unit public housing 

complex, resulted in 33 new, mixedincome 

rental units. The complete 

redesign of the development 

entails demolition and rebuilding 

of the entire complex. Extensive 

site work includes new streets, 

water, sewer, stormwater, utilities, 

landscaping, lighting, parking, 

sidewalks and greenspace. Once 

complete, the new neighborhood 

will comprise 78 new rental apartments, 

9 homeownership units, 

and a new community center, all 

designed to integrate the property 

into the surrounding neighborhood. 

The project will make a critical 

difference in the particular Rutland 

neighborhood in which it is located 

and in the lives of the low-income 

households who reside there. 

photo: Duncan Wisniewski Architecture 

Rockingham Area Community Land Trust 


Black River Overlook, Ludlow, Vermont. 

$434,000 VHCB award to refinance and 

recapitalize a 25-unit apartment complex. 

New wood pellet heating system, solar 

collectors, insulation, kitchen and bathroom 

improvements, additional wheelchair 

accessibility, roofing, site drainage, 

improvements to walkways, roadways, 

and to the water system. Total redevelopment 

costs: $4,902,509 

Rutland Housing Authority and 

Housing Vermont 

Hickory Street, Phase I, Rutland. An 

award of $500,000 federal HOME funds 

for construction of 33 rental units. The 

multi-phased project will redevelop 

Forest Park, a deteriorated public housing 

complex. $525,000 HUD EDI award. Total 

development cost: $8,488,556 

Hickory Street Phase II, Rutland City. 

$1,114,000 federal NSP Program funds 

for redevelopment of 20 apartments in a 

multi-family development. 

Twin Pines Housing Trust 

Anna Pluhar, Hartford. $30,000 VHCB 

award for energy efficiency upgrade. 

Organizational Development Grant. $33,300 

VHCB award for organizational development 



Washington County 

Mental Health Services 

Sierra House, Barre. $90,000 VHCB 

award for the purchase and rehabilitation 

of 4 units of service-enriched transitional 

housing for formerly homeless pregnant 

and post-partum women in recovery 

and their children. The program seeks to 

increase long-term emotional health for 

mother and child and to enhance selfsufficiency 

and parenting skills. Total 

development cost: $226,500 

Windham & Windsor Housing Trust 

Brattleboro Family Housing, Brattleboro. 

$196,000 VHCB award to make energy 

and capital improvements in 4 buildings 

with 28 apartments at 11 & 15 Spring 

Street, 135/137 Elliot Street, and 16-38 

Valgar Street. Rehabilitation will include 

new boilers and windows, solar hot water, 

new kitchens and baths, exterior painting 

and site work, and sprinkler systems at 

the Elliot and Spring Streets properties. 

$574,000 HOME program funds. $138,796 


projects cost: $4,617,244 

Algiers Village, Phase II, Guilford. 

$425,000 VHCB award for acquisition, 

construction, and related expenses to 

develop 17 apartments in two buildings 

on Guilford Center Road. $265,000 

HOME Program award. Total development 

costs: $4,369,030 

WHT/RACLT project specific capacity 

funding. $50,000 VHCB award to assist


with costs associated with merger of the 

Rockingham Area Community Land 

Trust with the Windham Housing Trust. 

$40,000 HUD EDI Technical Assistance 

Grant. 


$33,300 VHCB award for organizational 

development costs. $20,373 federal CHDO 

award. Total organizational budget: 

$1,062,437 

STATEWIDE PROGRAMS 

Energy Efficiency Fund 

$100,000 VHCB funding for energy efficiency 

upgrades to affordable housing 

developments. 

Feasibility Fund 

$150,000 recapitalization of the VHCB 

feasibility fund, which provides awards 

of up to $15,000 for predevelopment costs 

including surveys, options, appraisals, 

market and engineering studies, architect’s 

fees, etc. 

Habitat for Humanity and 

Vocational Education Programs 

$210,000 two-year recapitalization of 

program to provide grants for 14 homes 

built by Habitat for Humanity chapters or 

vocational educational programs. 

Homeland Program 

$385,000 recapitalization of program 

providing purchase subsidies and rehabilitation 

loans to low- and moderateincome 

Vermont households purchasing 

homes through community-based 

housing organizations and Neighbor- 

Works® HomeOwnership Centers. Will 

provide approximately 11 purchase subsidies 

and 2 rehab loans. 

Organizational Development Grants 

$508,928 for FY12 organizational development 

grants to 12 housing organizations 

operating around the state. $167,819 in 

HUD funds for organizational development 

grants to 10 Community Housing 

Development Organizations. 

Site-Based Homeownership Fund 

$75,000 recapitalization of fund to 

provide supplementary downpayment 

grants for homeownership units. 

Technical Assistance Fund 

$40,000 recapitalization of the VHCB 

Technical Assistance fund to assist 

housing development and conservation 

organizations with organizational 

sustainability, long-term property 

management, asset management and 

stewardship of long-term restrictions on 

properties. 

Transitional Housing Fund 

$800,000 recapitalization of fund for 

the development of transitional housing 

statewide. 

Vermont Center for Independent Living 

Home Access Program. $760,000 VHCB 

award for program and operating costs 

over two years for the Home Access 

Program, which provides grants statewide 

for accessibility modifications to 

homes occupied by low-income people 

with physical disabilities. 

VHCB Land Bank Fund 

$500,000 HUD EDI grant to capitalize 

land bank fund. 

Windham & Windsor Housing Trust photo 

Upper Story Housing, 

Brattleboro 

The Windham and Windsor Housing 

Trust and Housing Vermont are 

working with the Brattleboro Co-op 

to develop 24 apartments on the 

3 rd and 4 th floors of a new commercial 

building being constructed by 

the Co-op. Heat and hot water for 

the apartments will be supplied 

by recaptured waste heat from 

the Co-opís refrigeration system. 

The new building will replicate the 

historic streetscape. The apartments 

are expected to be complete 

in Spring 2012. VHCB committed 

$475,000 in state funds and 

$200,000 in federal HOME funds 

towards the housing in the $4.9 

million development. 

7

Conservation Awards July 2010– December 2011 

photo: Sarah Wakefield/the Nature Conservancy 

8 

Black Mountain, 

Dummerston 

For 20 years The Nature Conservancy 

has acquired land here, creating a 

600-acre reserve with numerous rare 

and unusal species. Black Mountainís 

high plant diversity is due in part to 

the horseshoe shape of the mountain 

which creates a water collecting bowl 

that produces ideal conditions for 

moist forests, streams, and wetlands. 

Pitch pine and scrub oak trees found 

in the drier area near the summit are 

normally associated with the sandy 

areas of the New England coast and 

are at the northern end of their range 

here. A 100-acre red pine community 

on the mountain is clearly visible from 

the village of West Dummerston. In 

June, a large population of mountain 

laurel produces a magnificent display 

of showy pink flowers. A 1.5 mile trail 

leads from the Rice Farm Road to the 

1,280-foot summit. 

Catamount Trail Association 

Hodgeman Parcel, Lowell. $20,150 VHCB 

award for acquisition of a trail easement 

along 4,400 feet of the Catamount Trail, 

cross country ski trail running the length 

of Vermont. Total project costs: $24,150 




$253,000 

Cross Vermont Trail Association 




$184,367 

Duxbury Land Trust 

Cook Property, Duxbury. $20,000 VHCB 

award to acquire 14 acres for addition 

to other conserved land along Ridley 

Brook. Total project cost: $46,000 

The Green Mountain Club 




$1,503,274 

Isle La Motte Reef Preservation Trust 

Goodsell Ridge Enhancement Project, Isle 

La Motte. $28,000 VHCB award for addition 

of one acre to existing fossil preserve 

conserving the world’s oldest reef. Total 

project costs: $45,000 

Lake Champlain Land Trust 




$725,000 

Middlebury Area Land Trust 




$482,120 

Preservation Trust of Vermont 

Brighton Town Hall Renovation. $7,500 

award for documentation and stewardship 

of historic preservation easement. 

Moravian Cabin Stewardship, Stowe 

$7,500 VHCB award for documentation 

and stewardship of historic preservation 

easement. 

STATEWIDE 

Feasibility Fund. $150,000 recapitalization 

of the fund to provide awards of 

up to $8,000 for predevelopment costs 

including surveys, options and appraisals 

Organizational Development Grants 

$251,072 for FY2012 organizational development 

grants to 10 conservation organizations 

operating around the state. 

VHCB Farm Viability Program 

$380,000 for service providers offering 

business planning and technical assistance 

to farmers.


Stowe Land Trust 

Cady Hill, Stowe. $350,000 VHCB award 

to acquire, conserve and convey 257 

acres to the town. Nine miles of mountain 

bike and walking trails add to a trail 

network being developed by the Vermont 

Ride Center, providing economic stimulus 

through tourism. $250,000 Town 

of Stowe; $1 million private fundraising 

campaign. Total project costs: $1,525,500 

Mill Trail Moravian Cabin Restoration, 

Stowe. $60,000 VHCB award for stabilization 

and restoration of historic cabin 

with significance to Vermont’s ski history. 

Total project costs: $123,500 

The Nature Conservancy 

Black Mountain, Dummerston. $75,000 

VHCB award to purchase and conserve 

25 acres on Black Mountain, adding 

to 583-acre nature preserve. Rare and 

unique natural communities. Public 

trail for hunting, walking, hiking, and 

snowshoeing. Frontage on Black Mountain 

Road will allow for development of a 

parking area and the addition of a kiosk. 


Green River Reservoir Addition, Hyde 

Park. $6,000 award for stewardship of 

179 acres added to Green River Reservoir 

State Park. 

Guildhall Swamp Addition, Guildhall. 

$50,000 VHCB award for acquisition of 51 

acres for addition to previously conserved 

land. Total project costs: $74,300 

Morelli Property, Pawlet. $230,700 VHCB 

award to purchase conservation easement 

on 181 acres for addition to North Pawlet 

Hills Preserve, an ecological area of statewide 

significance. Total project costs: 

$299,200 

Red Rock Bay, Benson. $65,400 VHCB 

award to purchase a conservation easement 

on 275 acres of wooded land, 

including 1,200 feet of shoreline on a 

narrow, shallow inlet of Lake Champlain. 

Rare and unique natural communities 

and wildlife habitat. $191,500 federal 

Landowner Incentive Program funding. 


Sheldon Property, Fair Haven. $77,000 

VHCB award for acquisition of 99 acres 

for addition to The Nature Conservancy’s 

729-acre Bomoseen Preserve. Statesignificant 

natural communities and rare 

plants, wildlife habitat protection, public 

access for hunting and non-motorized 

recreation. Total project costs: $92,000 

Windsor County Fen Watershed, Phase 

2, Barnard. $34,000 VHCB award to 

purchase conservation easement on 30 

acres for addition to project protecting 

watershed of a fen of statewide significance. 





$1,816,096 

Town of Brighton 

Brighton Town Hall Renovation. $50,000 

VHCB award for exterior restoration of 

120-year old historic municipal building 

with multiple community uses located in 

the heart of downtown Island Pond. Total 


Barre Town Forest, Barre 

town. 

A VHCB grant to the Trust for Public 

Land will help the Town of Barre 

acquire 343 acres of former quarry 

lands with a 70-mile trail network 

used for walking, biking, and crosscountry 

skiing. Project completion 

is pending receipt of a federal grant. 

Conservation would protect wildlife 

habitat as well as the source water 

for two municipal water districts. 

Sustainable forest management 

would bring revenue to the town. 

photo: Millstone Trails Association 

9


Upper Valley Land Trust 

Allen Farm, Newbury and Ryegate. 

$15,750 VHCB grant to purchase conservation 

easement on a 62-acre organic 

dairy farm. Highly visible and scenic 

property along I-91 will be sold by 

retiring dairy farmers Alice and Larry 

Allen to Walter Morse and Joseph Mahr, 

organic dairy farmers from Barre. $35,000 

federal NRCS funds; $48,250 Connecticut 

River Mitigation and Enhancement 

Funds. Total project costs: $99,000 

10 

Carol Dunsmore Farm, St. Albans 

The Vermont Agency of Agriculture, Food and Markets conserved 234 acres of 

farmland with floodplain frontage on Jewett Brook. The farmland is surrounded 

by conserved farms to the south, east and west; 20 acres of wetlands and the 

riparian area along Jewett Brook have been fenced off and planted to tree seedlings 

as part of the landownerís enrollment in the USDA CREP Program. AAFM 

photo. 

Town of Bakersfield 

Bakersfield Town Park. $33,667 VHCB 

award for acquisition of 4 acres to create 

a town park in the center of the village. 

Public trails, including wheelchair accessible 

segments, will be developed and an 

1890s historic barn will be restored and 

renovated to provide public meeting space 

and amenities. Total acquisition project 

costs: $50,500 

Town of Wells and Vermont Land Trust 

Delaney Project, Wells. $91,000 VHCB 

award to purchase and conserve 192 acres 

forest and lakeshore land for the Town of 

Wells. 17-acre lakeshore parcel includes 

2,000 feet frontage on Lake St. Catherine; 


Trust for Public Land 

Barre Town Forest, Barre Town. $308,000 

VHCB award towards acquisition and 

conservation of 343 acres of former 

quarry lands with extensive trail system. 

Wildlife habitat protection, potential for 

timber management, and protection of 

source water for two municipal water 

districts. Total project costs: $1,263,500 

The Trust for Public Land and the 

Vermont Department of Forests, Parks 

and Recreation 

Green River Reservoir Addition, Hyde 

Park. $358,000 VHCB award for acquisition 

of 179 acres in two parcels for addition 

to Green River Reservoir State Park. 

Includes 110 feet of shoreline on the reservoir. 

Public access for hiking, camping, 

hunting, fishing, and non-motorized boat 

access. Total project costs: $517,000 

Alschuler Farm, Thetford. $85,000 VHCB 


on 60 acres to be sold to Vaughn 

Farms LLC for addition to their 425 acres 

of farmland. Local trail network passes 

through the property. Conservation will 

provide a buffer for the Conant Swamp, a 

wetland in the watershed of the Connecticut 

River. $147,500 in NRCS funding. 


Burgess Farmland, Bradford. $154,000 

VHCB award to purchase conservation 

easement and Option to Purchase at Agricultural 

Value on 110 acres of agricultural 

land. $131,500 federal NRCS funding. 


East Hill, South Woodstock. $75,500 


easement and public trail easement on 71 

acres in the village. Farm and forestland 

conservation, riparian resources. Total 


Thomas Land (Wright’s Mountain), Bradford. 

$89,000 VHCB award to purchase, 

conserve, and transfer to the town 64 

acres for addition to adjacent 443 acres 

town-owned land. Riparian buffers, 

vernal pools, access for recreation and 

hunting and a managed timber resource. 





$660,139


Vermont Agency of Agriculture, 

Food & Markets 

Daniel & Eugene Branon Farm, Fairfield. 

$221,000 VHCB award to purchase 

conservation easement and Option to 

Purchase at Agricultural Value on 288 

acres agricultural land. $220,000 federal 

NRCS funds. Total project costs: $441,000 

Dunsmore Farm, St Albans. $155,000 


easement and Option to Purchase at 

Agricultural Value on 234 acres agricultural 

land with frontage on Jewett Brook. 

$152,500 federal NRCS funds. Total 


David and Peggy Howrigan Farmland, 

Fairfield. $57,500 VHCB award to 

purchase conservation easements on 102 

acres agricultural land with frontage on 

Hungerford Brook. $55,000 federal NRCS 

funds. Total project costs: $112,500 

Thomas & Mary Machia, St. Albans 

Town. $75,000 VHCB award to purchase 



acres agricultural land. Transfer of cropland 

to dairy farmers; 100% prime and 

statewide soils. $60,000 NRCS award. 


Act 250 Review. $93,246 award to provide 

support for staff and legal costs associated 

with the payment of mitigation funds by 

developers of agricultural land under Act 

250. 



grant. 

Vermont Agency of Natural Resources 

Long Range Management Planning 

$55,000 VHCB award for costs associated 

with developing management plans for 

state-owned properties. 

East Hill, South Woodstock 

An 11-acre prime farm field and 60 acres of woods and trails linking to a larger 

trail system, was conserved by the Upper Valley Land Trust and transferred to 

farmers Tom Debevoise and Laurie Livingston, who own an adjacent conserved 

farm. Trail easement and riparian buffer along the Kedron Brook. UVLT photo 

Vermont Land Trust 

Baldwin Farmland, Hinesburg. $157,500 


easements and an Option to Purchase 

at Agricultural Value on 73 acres agricultural 

land including VT Department 

of Environmental Conservation River 

Corridor Management Easement. Public 

access along river shore. $185,000 federal 


Matthew & Daniel Baldwin, Hinesburg. 

$82,222 VHCB award to purchase conservation 

easement and Option to Purchase 


land, part of a hay operation. 

River corridor protection on Lewis Creek 

frontage with public access along river. 

$222,500 NRCS award. Total project costs: 

$465,500 

Amerigo & Jill Balzano, Wells. $125,500 


easement and an Option to Purchase at 


land. Facilitates purchase by young 

farmers for diversified fruit and vegetable 

operation. $128,000 NRCS award. Total 


Barnes Farmland, Bridport. $107,500 


easement and an Option to Purchase at 


land. Cropland is leased to neighboring 

Blue Spruce Farm. Project abuts 

11


Cleveland Farm II, Pawlet $237,500 NRCS 


and Option to Purchase at Agricultural 

Value on 261 acres agricultural land. 

Facilitates purchase by abutting dairy 

farmer. Total project costs: $501,500 

Colette Case, Swanton. $195,000 VHCB 


on 224 acres agricultural land. Option 

to Purchase at Agricultural Value; 84% 

prime and statewide soils; near Lake 

Champlain. $172,500 NRCS award. Total 


12 

Boyden Farm, Cambridge 

The Boyden family farm dates to 1914. This year the family conserved 371 

acres with the Vermont Land Trust, facilitating transfer of the farm to the next 

generation. The Boydens raise natural beef, produce maple syrup, and run a 

store and winery as well as a banquet facility on the farm. The conservation 

easement provides for public access along three miles of the Lamoille River. 

Vermont Land Trust photo. 

the Dead Creek Wildlife Management 

Area; easement will contain a Special 

Treatment Area for a 38-acre clayplain 

forest on the property. $85,000 NRCS 


Burgess Farmland Stewardship, Bradford. 

$2,500 VHCB award for stewardship of 

property conserved by UVLT. 

Choiniere Farmland, Bristol & New 

Haven. $188,200 VHCB award to 

purchase conservation easement and 

Option to Purchase at Agricultural Value 

on 154 acres agricultural land. Adjacent to 

664-acre Watershed Center, a conserved 

recreation, natural area, and education 

center and near other conserved farms. 

Project will assist with farm enterpirse 

expansion to add dairy goats on another 

property. $181,500 federal NRCS funds. 


Claflin Farm, Ferrisburgh & Monkton. 




acres agricultural land. 14,000 feet of 

road frontage with large fields of statewide 

and prime soils. Significant local 

funding and bargain sale. $302,500 NRCS 


Clark Project Match, East Montpelier. 

$40,000 award to conserve almost 2 

miles of Winooski River frontage along 

Route 2. Enables safe connectors linking 

an existing town off-road network to 

the adjacent five-town regional high 

school and the Cross Vermont Trail. 

Provides match for federal Transportation 

Enhancement funds from the Vermont 

Agency of Transportation. Total Project 

Costs: $185,000 

Conant Farm, Williston. $11,250 VHCB 



Value on 48 acres of agricultural 

land. Town of Williston will hold a separate 

trail easement. $167,500 NRCS funds. 


Jonathan & Mary Ann Connor, Addison. 


conservation easement and an Option 

to Purchase at Agricultural Value on 87 

acres agricultural land abutting the Dead 

Creek Wildlife Management Area. Cropland 

for dairy. $50,000 NRCS award. Total 


Devine Farmland, Ferrisburgh. $60,000 



Value on 37 acres agricultural 

land, with transfer to farm buyer. Significant 

bargain sale. $82,500 NRCS funds. 


DeVries Farm, Addison. $192,500 VHCB 




Special ecological protection of 39 acres 

of clayplain forest. $170,000 NRCS funds. 


Farris/Bourque, Blue Heron Farm, Grand 

Isle. $52,299 VHCB award to purchase 


Purchase at Agricultural Value on 30


acres agricultural land. Transfer of land 

to vegetable farmers. $15,201 ag mitigation 

funding. $65,000 NRCS award. Total 


Finch Farmland, Franklin. $92,333 VHCB 



Value on 208-acre diversified 

livestock farm. $112,000 NRCS funds. 

Landowner bargain sale. Total project 

costs: $306,000 

Allan, Norman & Catherine Fisher, Salisbury. 




acres agricultural land. Landowner 

bargain sale. $60,000 NRCS award. Total 


Gilmore Farm, Tinmouth. $190,000 




land. 692 acres of easements and land 

donated; public ridgeline trail included. 


$1,877,150 

Goodrich Farm LLC, II, Salisbury. 




acres agricultural land for addition to 

conserved acreage. $95,000 NRCS award. 


Harris/McNaughten Farm, Wolcott. 




land abutting the East Hill Wildlife 

Management Area. 70% prime and statewide 

agricultural soils. $57,000 NRCS 

award. Total project costs: $145,500 

Hassan/Amanna, Athens. $122,803 

VHCB award to purchase a conservation 


at Agricultural Value on 172-acre farm, 

Wayne Stearns Farm, Ferrisburgh. 

When a 92-acre field rented by dairy farmer Wayne Stearns went on the market, 

27 neighbors formed an LLC to buy the property at an auction to save it from 

development. They conserved the land with the Vermont Land Trust, using VHCB 

and NRCS funding, and sold it to Stearns at an affordable price. VLT photo. 

facilitating transfer to new owners. Diversified 

sheep and garlic operation. Easement 

includes trail corridor for potential 

link to WHPA corridor, and Dept. of 

Environmental Conservation riparian 

buffer protection. WHPA is building a 

new trail section along the boundary 

of the property, to link to the newly 

conserved Athens Dome/Lake project. 

$181,000 NRCS funds. Total project costs: 

$433,803 

Hulett II, Pawlet. $147,500 NRCS award 

to purchase conservation easement and 


on 119 acres agricultural land. Riparian 

buffers and public access along Mettowee 

and Wells Rivers. Acquired by farmers as 

addition to home farm conserved acreage. 


Johnson Farm, Canaan and Lemington. 

$198,750 NRCS award to purchase conservation 



land with prime soils. Riparian 

buffers and public access along Connecticut 

River. Transfer to next generation 

farm buyer. Total project costs: $500,330 

Lawton II, Bridport. $202,500 VHCB 




land. This large expanse of scenic land 

abuts the family's previously conserved 

400-acre farm and supplies forage to 

area farmers. Project proceeds will help 

owners purchase additional, adjacent 

tillage. $190,000 NRCS funds and landowner 

bargain sale. Total project costs: 

$437,500. 

13




Mach, Pawlet. $190,000 federal NRCS 

funding to purchase conservation easement 



Includes over 4,000 ft. of Mettowee River 

frontage. Total project costs: $403,000 

14 

Whiteside, Middlesex 

The Vermont River Conservancy acquired 70 acres of land along the North 

Branch of the Winooski River and conserved an additional 18 acres, protecting 

wildlife habitat and over two miles of undeveloped river frontage. A river 

corridor management easement will allow the North Branch to move within its 

floodplain during high water, absorbing the force of the water and preventing 

costly erosion. Public access to the river. VRC photo 

Leach II, Pawlet. $75,000 VHCB award 



on 140 acres agricultural land. Proceeds 

enabled farmers to acquire Leach III 

property. $142,500 NRCS award. Total 


Leach III, Pawlet. $82,500 VHCB award 



on 297 acres agricultural land. Acquired 

by farmers as addition to home farm 

conserved acreage. $142,500 NRCS award. 


Lefoll Farm, Maidstone. $74,500 NRCS 




Riparian buffers and public access along 

Connecticut River. Total project costs: 

$162,996 

Limoge, Georgia. $97,500 VHCB award 



on 100 acres. Transfer to farm buyer. 

Land is 98 percent prime and statewide 

soils. Project supported by funds from 

Town of Georgia and by a bargain sale. 

$165,000 federal NRCS funding. Total 


Geordie & Emery Lynd, Walden. $146,250 



Value on 228-acre organic dairy 

Nordic Holsteins Farmland, Charlotte. 




land. The land is 94% prime and 

statewide soils and helps meet the forage 

needs of an expanding 700-head dairy 

operation. The project contains other 

resource values and is very highly leveraged. 

$294,500 federal NRCS funds. Total 


Greg & Debra O’Bryan, Addison. 


conservation easement and Option 

to Purchase at Agricultural Value on 

309 acres agricultural land, facilitating 

transfer to large goat operation. Protection 

of 24 acres clay plain forest. $147,500 

NRCS award. Total project costs: $317,500 

Ronald & Lynn Paradis, Franklin. 




acres agricultural land. 170-cow dairy 



Stephen & Carolyn Perley, Enosburgh. 




acres agricultural land. Grass hay and 

sugarbush. $186,000 NRCS award. Total 


K. Quesnel Farmland, Shoreham. $97,500 



Value on 160 acres agricultural


land. This farm project also contains 

natural and recreational values, with two 

designated Special Treatment Areas, and 

its location adjacent to a state wildlife 

management area and an abandoned rail 

corridor. $75,000 federal NRCS funds. 


AThens dome photo 

Roberts Farm, Weathersfield. $130,613 




land. Riparian buffer and public access 

along Connecticut River. Transition to 

vegetable operation with new owner. 

$19,637 ag mitigation funding. $159,000 


Gavin & Cynthia Ryan, Fairfield. $132,500 




land. Transfer of land to organic dairy. 


$242,500 

J. Ryan Farm, Wolcott. $15,000 VHCB 




Farmland abuts Bear Swamp Natural 

Area. Landowner bargain sale. $50,000 


H&D Smith Farmland, New Haven. 

$177,100 VHCB award to purchase a 



acres agricultural land with over 13,000 

ft. of frontage on Little Otter Creek. Easement 

includes special ecological protection 

for 28-acre clayplain forest. $154,500 


Nate & Brenda Smith Farmland, Pawlet. 

$84,000 NRCS funds to purchase conservation 


at Agricultural Value on 52-acre parcel 

of 100% prime and statewide riverbottom 

agricultural land. Includes 2,700 ft. of 

frontage on the Mettowee River. $106,500 

Athens Dome, Grafton 

The Windmill Hill Pinnacle Association added 195 acres to a nearly 2,000-acre 

nature reserve created over the last 20 years. A 14-mile trail system follows a 

ridgeline through the towns of Rockingham, Athens, Brookline, and Westminster. 

The new property links to a trail system in Grafton. WHPA photo. 

15


John Merck foundation funds. Total 


Wayne Stearns (Kimball Farm, LLC), 

Ferrisburgh. $107,500 VHCB award to 

purchase conservation easement on 92 

acres agricultural land near Lake Champlain 

facilitating affordable transfer to 

dairy farmer. Landowner bargain sale. 


$545,500 

Sunset Lake Farm II LLC, Alburg. 




acres agricultural land. Tillage for an 

operating dairy; 90% prime and statewide 

soils; near Lake Champlain. $89,000 


Thibault Farm, Colchester. $230,000 



Value on 199-acre dairy farm. 

Easement includes 500 ft. of Winooski 

River frontage. $302,500 NRCS funds. 


East Hill, Woodstock 

Mixed use on a trail through land conserved by the Upper Valley Land Trust. 

Protected for permanent public use by the Green Mountain Horse Association, 

VAST and the general public. UVLT photo 

16 

Tyler & Melanie Webb, Fairfield. $117,500 


easement and Option to Purchase at 


land for transfer to organic dairy. 


$273,500 

Whitney Farmland, Richford. $52,500 


easement and option to Purchase at Agricultural 


land. $40,000 federal NRCS funding. 


Witherell (Suhr) OPAV, Shoreham. 

$105,000 VHCB award to purchase an 


on previously conserved agricultural 

land. Grant facilitated purchase by Bill 

Suhr whose Champlain Orchard is near 

the Witherell land. Total project costs: 

$130,000 



costs. Total administrative budget: 

$3,636,000 

Vermont River Conservancy 

Fletcher Access, Enosburgh. $120,285 

VHCB award to purchase 9 acres on 

the Missisquoi River to be conserved 

and conveyed to the Village of Enosburgh 

Falls for a public fishing access 

and launching site for the Northern 

Forest Canoe Trail. Donation of land to 

Habitat for Humanity for development of 

2 affordable homes. $20,000 grant from 

a private foundation; $41,965 in private 

fundraising. Total project costs: $182,250 

Whiteside parcel, Middlesex and 

Worcester. $147,000 VHCB award for 

acquisition of 63 acres to conserve natural 

area. Vermont Department of Environmental 

Conservation River Corridor 

Management Easement along 2.3 miles of 

the North Branch of the Winooski River. 

Wildlife habitat, public access to river. 





$300,000 

Windmill Hill Pinnacle Association 

Athens Dome, Grafton. $295,039 VHCB 

award for acquisition of 195 acres for 

addition to multi-town nature reserve and 

trail system. Provides linkage between 

two trail systems—the northern terminus 

of the Windmill Hill Pinnacle Trail and 

a series of class IV roads and trails to be 

built through the newly-acquired land. 

$59,350 bargain sale; $36,050 raised 

locally. Total project costs: $331,089

Federal Housing Funds Awards Supplement v h c b Awards July 2010–December 2011 

conjunction with state funds, vhcb 

In administers federal fund-ing for 

programs to develop housing, increase 

affordability, add support services, provide 

technical assistance, and leverage state and 

private dollars for land conservation in 

Vermont. 

h o m e Program 

Federal home Program funds are aimed 

at serving low- and very low-income 

Vermonters in housing developments 

meeting the priorities of the State 

Consolidated Plan. These funds help to 

cover project development costs, to create 

greater affordability in the projects, and 

to supplement vhcb funds. The Board 

administers the program on behalf of the 

Department of Economic, Housing and 

Community Development. Since 1992 

vhcb has administered $61.4 million in 

home funds. 

Lead-Based Paint Hazard 

Reduction Program 

Funded by the u.s. Department of 

Housing and Urban Development, this 

program has been operating since , 

administering $9.6 million to reduce lead 

hazards in more than 2,000 homes and 

apartments statewide. 

v h c b AmeriCorps Program 

vhcb has operated this program for 

13 years, co-sponsoring AmeriCorps 

members to serve with nonprofit housing 

and conservation entities statewide. 

vhcb has administered $4.7 million in 

funds for this program since . In 

2011 the program placed 34 AmeriCorps 

members. 

Agency of Transportation te-21 

vhcb has been awarded $2.4 million in 

te-21 funds to conserve land in proximity 

to state highways and enhance alternative 

transportation systems such as trails 

and bike paths. The “transportation 

enhancement” funds leverage state funds, 

providing another source of funds to 

conserve farmland and open land. 

Farmland Protection Program 

Through the usda Natural Resources 

Conservation Service, vhcb administers 

funds from this federal program 

to conserve farmland. These funds 

supplement Vermont’s state and private 

efforts, increasing the amount of farmland 

conserved. The Board has received 

$35 million in fpp funds for farmland 

conservation. A previous program, 

Farmland for the Future, brought $14.2 

million in federal funds to Vermont for 

farmland conservation. 

Farm Viability 

Enhancement Program 

vhcb funding for this program is 

supplemented by federal funding 

administered by the usda Natural 

Resources Conservation Service and by 

usda Rural Development Rural Business 

Development grant funding. vhcb has 

served more than 300 farms with this 

program. 

h u d Economic Development 

Initiative Special Project Grants 

The Board administers these onetime 

federal grants that are designated 

by Congress for specific affordable 

housing, community and economic 

development, historic preservation and 

land conservation projects statewide. Since 

8, the Board has administered nearly 

$25.5 million in Special Project Grants. 

fy10 grants include a land bank fund, 

capital funds for the Vermont Foodbank 

Farm, funding for new family and senior 

housing developments in Burlington, a 

housing preservation fund, redevelopment 

of Forest Park West, a 33-unit public 

housing development in Rutland, a 

housing technical assistance fund, and 

seed money for a Flex Capital Fund at the 

Vermont Sustainable Jobs Fund. 

Housing Opportunities for 

Persons with h i v/a i d s 

hopwa funds provide rental subsidies, 

emergency assistance and supportive 

services to persons living with hiv/ 

aids. This program was developed in 

collaboration with the Vermont hiv/aids 

Care Consortium, the Department of 

Health, the Persons with aids Coalition, 

the Vermont Center for Independent 

Living, and the aids service organizations. 

To date, vhcb has administered more than 

$6.9 million in hopwa funds. 

h u d Technical Assistance Program 

vhcb has administered more than 

$300, in various hud funds to provide 

training, operating support and technical 

assistance to nonprofit developers of 

affordable housing. vhcb uses hud 

technical assistance funds to develop and 

co-sponsor trainings. 

Neighborhood Stabilization 

Program Funds 

vhcb is administering $5.3 million in 

Neighborhood Stabilization Program 

Funds for housing developments 

involving the redevelopment of blighted 

or foreclosed upon properties in certain 

target areas of the state. 

a r r a State Energy Program 

The legislature allocated $2 million 

to vhcb in American Recovery and 

Reinvestment Act State Energy Program 

funds to improve the energy efficiency 

and add renewable energy systems to 

affordable multi-family housing. As of 

January 2012, the ARRA funds have been 

utilized in 725 apartments across the state. 

17

Vermont 

Housing & 

Conservation 

Board 

VERMONT HOUSING & CONSERVATION BOARD 

FINANCIAL STATEMENTS 

As of and for the Six Months Ended December 31, 2011 

58 East State Street 

Montpelier 

Vermont 05602 

tel 802 828 3250 

fax 802 828 3203 

web www.vhcb.org 

Board of Directors 

Christine H. Hart 

Chair 

David R. Marvin 

Vice Chair 

Sarah E. Carpenter 

Roy Folsom 

Denny Frehsee 

Doug Racine 

William Roper 

Chuck Ross 

Michael C. Snyder 

Emily Wadhams 

Gustave Seelig 

Executive Director 

EQUAL HOUSING 

OPPORTUNITY 

The attached financial statements present the financial activities of the Board for 

the six month period July 1 through December 31, 2011. These statements have 

been compiled on the modified accrual basis of accounting and include all funds 

of the Board, summarized for presentation. These are not audited financial statements 

as they are for a six-month period. The audited financial statements, prepared 

in accordance with Governmental Accounting Standards Board (GASB), 

for the year ended June 30, 2011 have been presented separately to the General 

Assembly. 

The attached Balance Sheet and Statement of Revenues and Expenditures combine 

similar funds for presentation. These funds are briefly detailed as follows: 

Trust Fund includes the Trust fund, and the Operations fund of the Board. 

Bond Fund – open Capital Bill funds committed, but not yet disbursed. 

Home Programs – restricted federal grant program: US Department of Housing 

& Urban Development (HUD) – HOME program administered by the Board. 

Farmland Preservation Program – restricted federal grant program: US Department 

of Agriculture Natural Resources Conservation Service. 

Miscellaneous Grants – various restricted federal and supplementary awards. 

Fund Equity 

Committed for Projects – this represents encumbrances, which are not yet 

disbursed. These commitments are legal obligations of the Board that arise 

when the Board adopts resolutions to fund specific projects. The Board commitments 

are evidenced by grant agreements, which are the contracts that the 

grantees rely upon to incur costs and proceed to closing. 

Restricted for Programs – these reserves represent portions of the fund equity 

which have been legally segregated for specific purposes. 

Reserved for Operations – this reserve represents funds for current fiscal year 

program operations. 

Questions regarding this financial information may be directed to the office of the 

Vermont Housing and Conservation Board.

Vermont Housing Conservation Board 

Balance Sheet 

As of 12/31/2011 

(In Whole Numbers) 

Trust Fund Bond HOME Program 

Farmland 

Preservation 

Program Miscellaneous Grants Total 

Assets 

Cash 

Cash Accounts & Petty Cash 50,706 0 0 0 0 50,706 

State Accounts 1,996,181 0 0 0 1,180,853 3,177,034 

Total Cash 2,046,887 0 0 0 1,180,853 3,227,740 

Other Assets 

Due from other funds 481,152 0 0 0 724,360 1,205,512 

Security Deposit & Prepaids 11,000 0 0 0 0 11,000 

Loans Receivable 93,745,510 0 39,534,765 0 11,132,362 144,412,637 

Due from State of Vermont 8,047,500 3,718,167 0 0 0 11,765,667 

Anticipated Grant Revenue 227,910 0 6,447,636 3,733,565 6,753,514 17,162,624 

Securities 0 0 0 0 0 0 

Miscellaneous receivables 2,650 0 0 0 870 3,520 

Total Other Assets 102,515,723 3,718,167 45,982,401 3,733,565 18,611,105 174,560,961 

Total Assets 104,562,610 3,718,167 45,982,401 3,733,565 19,791,958 177,788,701 

Liabilities and Fund Equity 

Liabilities 

Accrued liabilities & payables 112,294 0 0 0 0 112,294 

Due to other funds 725,762 0 83,133 0 396,617 1,205,512 

Due to State of Vermont 0 0 0 1,808,750 1,789,864 3,598,614 

Deferred revenue - loans 93,745,510 0 39,534,765 0 10,860,667 144,140,942 

Deferred revenue - grants 0 0 0 0 16,159 16,159 

Anticipated grants committed 227,910 0 6,364,503 1,924,815 4,650,062 13,167,290 

Long-term debt 0 0 0 0 271,695 271,695 

Total Liabilities 94,811,476 0 45,982,401 3,733,565 17,985,064 162,512,507 

Fund Equity 

Restricted for project commitments 8,607,347 3,718,167 0 0 917,421 13,242,935 

Restricted for programs 207,526 0 0 0 889,473 1,096,999 

Reserved for program operations 936,260 0 0 0 0 936,260 

Total Fund Equity 9,751,133 3,718,167 0 0 1,806,894 15,276,195 

Total Liabilities and Fund Equity 104,562,610 3,718,167 45,982,401 3,733,565 19,791,958 177,788,701


Statement of Revenues and Expenditures 

From 7/1/2011 Through 12/31/2011 

(In Whole Numbers) 

Farmland 

Trust Fund Bond HOME Program Preservation Program 

Miscellaneous Grants 

Total 

Revenues 

Loan repayment - principal 16,824 0 0 0 17,510 34,334 

Loan repayment - interest 10,547 0 0 0 0 10,547 

Other income 1,108 0 0 0 1,275 2,383 

Interest income 4,476 0 0 0 227 4,702 

Property transfer tax revenues 8,047,500 0 0 0 0 8,047,500 

Mitigation Revenues 0 0 0 0 47,379 47,379 

Grant revenues 100,000 0 2,337,777 1,493,750 6,253,226 10,184,753 

AmeriCorps Sponsor Share 0 0 0 0 65,810 65,810 

Donations 6,000 0 0 0 0 6,000 

Total Revenues 8,186,455 0 2,337,777 1,493,750 6,385,426 18,403,408 

Expenditures 

Salaries and Related Expenditures 

Salaries 303,353 0 93,096 0 295,754 692,204 

Related Payroll Expenses 173,164 0 29,125 0 92,013 294,301 

Total Salaries and Related Expenditures 476,517 0 122,221 0 387,767 986,505 

Other Expenditures 

Consulting Services 8,525 0 0 0 0 8,525 

Board Expenses 4,671 0 0 0 525 5,196 

Administrative Expenses 71,262 0 23,316 0 81,353 175,931 

Grant & Loans 1,980,307 2,508,226 2,184,922 1,493,750 5,127,785 13,294,989 

Other Direct Program Expenses 46,792 0 7,318 0 1,376,633 1,430,743 

Total Other Expenditures 2,111,557 2,508,226 2,215,556 1,493,750 6,586,297 14,915,385 

Total Expenditures 2,588,074 2,508,226 2,337,777 1,493,750 6,974,063 15,901,890 

Operating Transfers in(out) 

(484,555) 0 0 0 484,555 0 

Total Operating Transfers in(out) (484,555) 0 0 0 484,555 0 

Rev over (under) Exp's & Transfers 5,113,826 (2,508,226) (0) 0 (104,082) 2,501,518 

Beginning Fund Balance 

4,637,308 6,226,393 0 0 1,910,977 12,774,677 

Total Beginning Fund Balance 4,637,308 6,226,393 0 0 1,910,977 12,774,677 

Ending Fund Balance 9,751,133 3,718,167 0 0 1,806,894 15,276,195

2011 Annual Report to the General Assembly - Vermont Housing ...

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