2011 Annual Report to the General Assembly - Vermont Housing ...
2011 Annual Report to the General Assembly - Vermont Housing ...
2011 Annual Report to the General Assembly - Vermont Housing ...
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<strong>2011</strong><br />
<strong>Vermont</strong> <strong>Housing</strong> &<br />
Conservation Board<br />
<strong>Annual</strong> <strong>Report</strong> <strong>to</strong> <strong>the</strong> <strong>General</strong> <strong>Assembly</strong>
<strong>Vermont</strong><br />
<strong>Housing</strong> &<br />
Conservation<br />
Board<br />
58 East State Street<br />
Montpelier, VT 05602<br />
telephone: 802 828 3250<br />
www.vhcb.org<br />
since 1987, supporting<br />
<strong>the</strong> creation of<br />
affordable housing<br />
and <strong>the</strong> conservation<br />
of agricultural and<br />
recreational lands,<br />
his<strong>to</strong>ric properties,<br />
and natural areas.
<strong>Vermont</strong> <strong>Housing</strong> & Conservation Board<br />
Christine H. Hart, Chair; Executive Direc<strong>to</strong>r, Brattleboro <strong>Housing</strong> Authority<br />
David Marvin, Vice-Chair; Butternut Mountain Farm, Morrisville<br />
*Andrew Broderick, Charlotte<br />
**Chuck Ross, Secretary, Agency of Agriculture, Food and Markets<br />
Sarah E. Carpenter, Executive Direc<strong>to</strong>r, <strong>Vermont</strong> <strong>Housing</strong> Finance Agency<br />
*John T. Ewing, Burling<strong>to</strong>n<br />
**Denny Freshee, Brattleboro<br />
Roy Folsom, Farmer, Crooked Brooks Farm, Cabot<br />
*Robert Hofmann, Secretary, Agency of Human Services<br />
Michael C. Snyder, Commissioner, Department of Forests, Parks and Recreation<br />
G. Kenneth Perine, President, National Bank of Middlebury<br />
Douglas A. Racine, Secretary, Agency of Human Services<br />
**Bill Roper, President and CEO, Or<strong>to</strong>n Family Foundation<br />
**Emily Wadhams, VP, Preservation Trust of <strong>Vermont</strong>; his<strong>to</strong>ric preservation consultant<br />
*Jonathan Wood, Secretary, Agency of Natural Resources<br />
*retired from <strong>the</strong> Board <strong>2011</strong>; **new appointment <strong>2011</strong><br />
Agricultural Advisory Committee<br />
Chuck Ross, Chair; Secretary, Agency of Agriculture, Food and Markets<br />
Cecile Branon, Fairfield farmer<br />
Vicky Drew, USDA Natural Resources Conservation Service<br />
Dennis Kauppila, UVM Extension Service<br />
John Peters, Yankee Farm Credit<br />
Sam Burr, Monk<strong>to</strong>n farmer<br />
Robert Paquin, USDA Farm Service Agency<br />
<strong>Vermont</strong> Farm Viability Program Advisory Board<br />
Chuck Ross, Chair; Secretary, Agency of Agriculture, Food and Markets<br />
Gary Braman, Loan Officer, USDA Farm Service Agency<br />
Rusty Forgues, Addison farmer, The Rusty John Farm<br />
Alex Ibey, Economic Development Specialist, Department of Economic Development<br />
Sarah Isham, Senior Agricultural Loan Officer, <strong>Vermont</strong> Economic Development Authority<br />
Douglas Lantagne, Dean, UVM Extension<br />
Hannah Noel, Highgate farmer, Maplewood Natural Organics<br />
Earl Ransom, Strafford farmer, Rock Bot<strong>to</strong>m Farm & Strafford Creamery<br />
Bill Suhr, Shoreham apple grower, Champlain Orchards<br />
VHCB Staff<br />
Executive Direc<strong>to</strong>r: Gus Seelig<br />
Financial: Anne Duffy, Kathy Barrows, Marcy Christian, John Grosvenor<br />
Administration: Larry Mires, Pam Boyd, Laurie Graves<br />
Conservation: Nancy Everhart, Billy Coster, Karen Freeman, Ethan Parke<br />
<strong>Housing</strong>: Polly Nichol, Willa Ruth Davidian, Rick DeAngelis, Kathleen Kanz,<br />
Ariane Kissam, Craig Peltier<br />
Lead Hazard Reduction Program: Ron Rupp, Marty Bonneau, Diane Mackay, Bob Zatzke<br />
VHCB AmeriCorps Program: Joan Marie Misek, Francis Sharpstene<br />
<strong>Vermont</strong> Farm Viability Program: Ela Chapin, Liz Gleason<br />
Legal: Jim Libby, Elizabeth Egan<br />
above: North Pawlet Hills, Joan Allen/The Nature Conservancy pho<strong>to</strong><br />
front cover pho<strong>to</strong>: Cambridge valley, Ellen Powell<br />
back cover pho<strong>to</strong>s, <strong>to</strong>p <strong>to</strong> bot<strong>to</strong>m: Johnson Community <strong>Housing</strong>;<br />
ribbon cutting at Cedar's Edge, Essex; Ridley Brook, Duxbury<br />
Pho<strong>to</strong>graphy: staff, grantees, and as credited<br />
Writing: VHCB staff<br />
Design: Pam Boyd<br />
Printing: Stillwater Graphics
PROJECT AWARDS BY COUNTY<br />
1987–<strong>2011</strong><br />
GRAND ISLE<br />
48 units<br />
3,257 acres<br />
FRANKLIN<br />
522 units<br />
34,690 acres<br />
ORLEANS<br />
313 units<br />
19,309 acres<br />
ESSEX<br />
13 units<br />
180,517<br />
acres<br />
CHITTENDEN<br />
3,291 units<br />
14,178 acres<br />
LAMOILLE<br />
201 units<br />
16,234 acres<br />
WASHINGTON<br />
776 units<br />
11,288 acres<br />
CALEDONIA<br />
388 units<br />
5,663 acres<br />
ADDISON<br />
682 units<br />
47,730 acres<br />
ORANGE<br />
344 units<br />
10,561 acres<br />
RUTLAND<br />
485 units<br />
19,471 acres<br />
WINDSOR<br />
1,200 units<br />
11,049 acres<br />
BENNINGTON<br />
367 units<br />
5,468 acres<br />
WINDHAM<br />
785 units<br />
9,988 acres
January 31, 2012<br />
Dear Governor Shumlin and Members of <strong>the</strong> <strong>General</strong> <strong>Assembly</strong>:<br />
pho<strong>to</strong>s courtesy of <strong>the</strong> Committee on Temporary Shelter, <strong>the</strong> <strong>Vermont</strong> Land Trust, and <strong>the</strong> Friends of Algiers Village, Inc.<br />
From <strong>to</strong>p: With VHCB support, COTS and <strong>Housing</strong><br />
<strong>Vermont</strong> completed housing with support services<br />
for veterans on Canal Street in Winooski; <strong>the</strong><br />
<strong>Vermont</strong> Land Trust worked with <strong>the</strong> Town of Wells<br />
<strong>to</strong> conserve frontage on Lake St. Ca<strong>the</strong>rine, along<br />
with farmland sold <strong>to</strong> Rico and Jill Balzano; <strong>the</strong><br />
Friends of Algiers Village, Inc. purchased and are<br />
renovating <strong>the</strong> his<strong>to</strong>ric Guilford Country S<strong>to</strong>re, a<br />
community ga<strong>the</strong>ring spot.<br />
I am pleased <strong>to</strong> present this annual report detailing <strong>the</strong> public investments<br />
you have made in housing and conservation across <strong>the</strong> state of<br />
<strong>Vermont</strong>. Over <strong>the</strong> last 18 months, <strong>the</strong> <strong>Vermont</strong> <strong>Housing</strong> and Conservation<br />
Board committed funds for 778 homes and apartments, for conservation<br />
of 53 farms <strong>to</strong>taling 8,945 acres, for protection of 1,791 acres of natural areas<br />
and recreation lands, and for preservation of three his<strong>to</strong>ric sites. Your investments<br />
in <strong>the</strong>se projects have provided economic stimulus, have created<br />
hundreds of jobs, and have improved <strong>Vermont</strong>ers’ quality of life. In addition,<br />
your $18.2 million investment leveraged ano<strong>the</strong>r $90 million in private<br />
equity, foundation funds, and federal grants for <strong>the</strong>se projects.<br />
A fundamental element of vhcb’s work, as codified in Title 10, is “<strong>to</strong><br />
consider <strong>the</strong> need for a timely response <strong>to</strong> unpredictable circumstances and<br />
special opportunities.” As <strong>the</strong> Executive Direc<strong>to</strong>r of <strong>the</strong> Brattleboro <strong>Housing</strong><br />
Authority, I know first-hand about unpredictable circumstances. I witnessed<br />
<strong>the</strong> devastation caused by Tropical S<strong>to</strong>rm Irene in my community, where<br />
businesses suffered heavy damage and a number of residents were displaced<br />
from <strong>the</strong>ir homes. As we rebuild, we need <strong>to</strong> think carefully about flood<br />
prevention and flood resiliency. In <strong>the</strong> coming years, vhcb will focus on<br />
long-term investments in flood-proof affordable housing and land conservation<br />
along flood-prone waterways.<br />
At vhcb, <strong>the</strong> staff has been participating in a post-Irene <strong>Housing</strong> Task<br />
Force, conducting outreach, participating in community meetings, coordinating<br />
technical assistance for farmers, and working closely with <strong>the</strong> state’s<br />
network of nonprofit housing organizations. vhcb continues <strong>to</strong> support <strong>the</strong><br />
capacity of <strong>the</strong>se organizations, especially through home ownership centers,<br />
as <strong>the</strong>y assist home owners affected by <strong>the</strong> flooding. The nonprofit network<br />
stands ready <strong>to</strong> aid our municipalities in <strong>the</strong>ir rebuilding efforts.<br />
vhcb conservation investments in farm and forest land along river<br />
corridors proactively address <strong>the</strong> challenges of climate change and promote<br />
flood resiliency. At <strong>the</strong> same time, <strong>the</strong>se investments spur economic growth<br />
both in <strong>the</strong> agricultural sec<strong>to</strong>r and by encouraging outdoor recreation activities<br />
and promoting travel and <strong>to</strong>urism, maintaining <strong>Vermont</strong>’s rank as one<br />
of <strong>the</strong> world’s great <strong>to</strong>urist destinations. <strong>Housing</strong> investments in our <strong>to</strong>wn<br />
and village centers and in his<strong>to</strong>ric properties complete <strong>the</strong> comprehensive<br />
approach <strong>to</strong> community and economic development exemplified by <strong>the</strong><br />
broad mission of <strong>the</strong> <strong>Vermont</strong> <strong>Housing</strong> & Conservation Board.<br />
An example of a multi-goal project this past year resulted in <strong>the</strong> conservation<br />
of a combination of farmland, forestland, and 2,000 feet of frontage<br />
on Lake St. Ca<strong>the</strong>rine when <strong>the</strong> <strong>Vermont</strong> Land Trust purchased and<br />
conserved <strong>the</strong> 300-acre Delaney Farm, a scenic property in <strong>the</strong> center of<br />
<strong>the</strong> <strong>to</strong>wn of Wells. With vhcb support, vlt sold <strong>the</strong> conserved farmland<br />
<strong>to</strong> a young couple, Rico and Jill Balzano, who will operate an orchard. The<br />
<strong>to</strong>wn purchased <strong>the</strong> balance of <strong>the</strong> conserved acreage <strong>to</strong> create a <strong>to</strong>wn forest
pho<strong>to</strong>s courtesy of <strong>Housing</strong> <strong>Vermont</strong> and <strong>the</strong> <strong>Vermont</strong> Land Trust<br />
for walking, skiing and hunting, along with 17 acres of lakefront property<br />
for public recreational use. Residents and visi<strong>to</strong>rs, along with future<br />
generations, will benefit from protection of <strong>the</strong> last undeveloped stretch of<br />
shoreline in <strong>to</strong>wn. Securing public resources <strong>to</strong>day for permanent public<br />
access is a hallmark of vhcb investments.<br />
In December, our Board <strong>to</strong>ured <strong>the</strong> new veterans’ housing project on<br />
Canal Street in Winooski that was built by <strong>the</strong> Committee on Temporary<br />
Shelter and <strong>Housing</strong> <strong>Vermont</strong> with vhcb funding. The building now<br />
provides housing and support services for 30 veterans of <strong>the</strong> u.s. military.<br />
O<strong>the</strong>r projects where vhcb funding was integral include <strong>the</strong> rebuilding of<br />
<strong>the</strong> fire-damaged Ellis Block in down<strong>to</strong>wn Springfield, <strong>the</strong> res<strong>to</strong>ration of <strong>the</strong><br />
vacant, former Ethan Allen manufacturing site in Randolph as affordable<br />
housing, <strong>the</strong> rebuilding of Forest Park (an aging public housing development<br />
in Rutland), and <strong>the</strong> res<strong>to</strong>ration of two his<strong>to</strong>ric, long-vacant or<br />
under-utilized buildings (a school and a convent) in West Rutland.<br />
The Board’s work over <strong>the</strong> last year has also focused on increasing <strong>the</strong><br />
energy efficiency of our existing affordable housing portfolio. New Board<br />
policies in this area will promote <strong>the</strong> use of renewable energy sources and<br />
will help <strong>to</strong> enhance <strong>the</strong> energy efficiency of apartment buildings all across<br />
<strong>the</strong> state.<br />
We look forward <strong>to</strong> working with <strong>the</strong> <strong>General</strong> <strong>Assembly</strong> <strong>to</strong> help <strong>Vermont</strong><br />
rebuild and reinvest in <strong>the</strong> housing and conservation infrastructure that<br />
make <strong>Vermont</strong> such a great place <strong>to</strong> live and do business.<br />
Sincerely,<br />
Christine H. Hart<br />
Board Chair<br />
From <strong>to</strong>p: After a fire <strong>the</strong> Springfield <strong>Housing</strong> Authority and<br />
<strong>Housing</strong> <strong>Vermont</strong> rebuilt 9 apartments above <strong>the</strong> <strong>the</strong>ater in<br />
down<strong>to</strong>wn Springfield, res<strong>to</strong>ring <strong>the</strong> Art Deco relief; family<br />
rental housing in Morrisville developed by <strong>the</strong> Lamoille<br />
<strong>Housing</strong> Partnership and <strong>Housing</strong> <strong>Vermont</strong>; <strong>the</strong> Duxbury<br />
Land Trust conserved acreage at Ridley Brook; new rental<br />
housing at Hickory Street (formerly known as Forest Park),<br />
a public housing development in Rutland.<br />
2
HOUSING PROGRAMS<br />
During state fiscal and calendar year <strong>2011</strong>, vhcb and its partners<br />
continued <strong>to</strong> focus on preserving and sustaining existing affordable<br />
housing while also creating additional housing <strong>to</strong> meet <strong>the</strong> needs of<br />
lower-income <strong>Vermont</strong>ers. Special opportunities presented by a three-year<br />
housing preservation grant received in 2009 from <strong>the</strong> MacArthur Foundation<br />
and a two-year arra State Energy Program grant allowed us <strong>to</strong> not only fund<br />
new housing but also <strong>to</strong> focus on <strong>the</strong> existing portfolio as well.<br />
In <strong>the</strong> last 18 months nearly 800 units of rental housing received some type<br />
of housing funding from vhcb in fiscal and calendar year <strong>2011</strong>—State funds,<br />
home funds, hud Economic Development Initiative Special Project Funds,<br />
and/or hud Neighborhood Stabilization Program funds. In addition, vhcb<br />
awarded money <strong>to</strong> <strong>the</strong> state’s homeownership centers and Habitat for Humanity<br />
chapters <strong>to</strong> facilitate homeownership for 30 <strong>Vermont</strong> households. A grant <strong>to</strong><br />
<strong>the</strong> <strong>Vermont</strong> Center for Independent Living’s Home Access Program funds<br />
accessibility modifications <strong>to</strong> approximately 84 homes occupied by <strong>Vermont</strong>ers<br />
with physical disabilities. At <strong>the</strong> end of <strong>the</strong> year, much of <strong>the</strong> Board’s housing<br />
focus was on communities or areas of <strong>the</strong> state that were adversely impacted by<br />
Tropical S<strong>to</strong>rm Irene.<br />
During <strong>the</strong> 18-month period covered by this report, vhcb funding<br />
supported <strong>the</strong> purchase and rehabilitation of five federally subsidized developments<br />
with apartments for families, improving <strong>the</strong> physical environment and<br />
preserving long-term affordability. Two mobile home parks were able <strong>to</strong> make<br />
infrastructure improvements and service-supported housing was created for<br />
homeless families and individuals and for persons leaving <strong>the</strong> correctional facilities<br />
and recovering from substance abuse. vhcb committed state and federal<br />
dollars <strong>to</strong> rebuild after fires in down<strong>to</strong>wn Springfield and Montpelier, <strong>to</strong> turn an<br />
administrative building in Brandon in<strong>to</strong> housing for families and <strong>to</strong> demolish<br />
and rebuild deteriorated public housing in Rutland. vhcb also funded new<br />
Fiscal Year <strong>2011</strong><br />
HOUSING<br />
State Funding Commitments<br />
$6,127,495<br />
392 units; 28 projects<br />
Federal Funding Commitments<br />
HOME Program<br />
$4,444,664<br />
<strong>Housing</strong> <strong>Vermont</strong> pho<strong>to</strong><br />
Lead-Based Paint<br />
Hazard Reduction Program<br />
$ 573,293<br />
Neighborhood Stabilization Program<br />
$1,289,000<br />
.<br />
Top: New housing developed in Johnson by <strong>Housing</strong> <strong>Vermont</strong><br />
and <strong>the</strong> Lamoille <strong>Housing</strong> Partnership. Left: In West Rutland<br />
<strong>the</strong> <strong>Housing</strong> Trust of Rutland County created 21 affordable<br />
apartments in <strong>the</strong> former St. Stanislaus Kostka School and <strong>the</strong><br />
adjacent convent. The development is a pro<strong>to</strong>type for energy<br />
efficiency in an his<strong>to</strong>ric building.<br />
3<br />
<strong>Housing</strong> Trust of Rutland County pho<strong>to</strong>
AWARDS AND RECOGNITION<br />
• The State of <strong>Vermont</strong> HOME Program, administered<br />
by VHCB, won a HUD Doorknocker Award for<br />
capacity building among community-based, nonprofit<br />
housing development organizations.<br />
• LeadingAge, a national organization, honored<br />
Nancy Rockett Eldridge, executive direc<strong>to</strong>r of<br />
Ca<strong>the</strong>dral Square Corporation, for bringing people<br />
<strong>to</strong>ge<strong>the</strong>r <strong>to</strong> tackle <strong>the</strong> issues of affordable housing<br />
and health care and for her leadership in pioneering<br />
Support And Services at Home (SASH), a program<br />
linking housing and health care services.<br />
• The Champlain <strong>Housing</strong> Trust and <strong>the</strong> City of<br />
Burling<strong>to</strong>n won a HUD HOME Doorknocker Award<br />
for <strong>the</strong>ir model of sustainable, affordable housing<br />
at 88 King Street.<br />
• AIA VT awarded Duncan Wisniewski Architects<br />
and Naylor & Breen Builders with an Honorable<br />
Citation for Public <strong>Housing</strong> for Hickory Street<br />
in Rutland; Bob Duncan received <strong>the</strong> People’s<br />
Choice Award for Canal Street Veterans’ <strong>Housing</strong><br />
in Winooski.<br />
• Tom Bachman of Gossen Bachman Architects was<br />
honored by <strong>the</strong> Bos<strong>to</strong>n Society of Architects with<br />
<strong>the</strong> John M. Clancy Award for Socially Responsible<br />
<strong>Housing</strong> for Union Square Apartments in Windsor.<br />
Above: On North Avenue in Burling<strong>to</strong>n’s New<br />
North End, <strong>the</strong> Champlain <strong>Housing</strong> Trust and<br />
<strong>Housing</strong> <strong>Vermont</strong> are developing 33 new<br />
affordable homes for families as part of an<br />
infill development with senior and market rate<br />
housing. The $7.6 million development, which<br />
is close <strong>to</strong> services and served by public transportation,<br />
will have solar hot water and will be<br />
highly energy efficient.<br />
residential communities for seniors in Vergennes and Burling<strong>to</strong>n and for<br />
families in Newport, Essex, Burling<strong>to</strong>n, Benning<strong>to</strong>n and Guilford. Additionally,<br />
grants were provided <strong>to</strong> increase <strong>the</strong> energy efficiency in developments undergoing<br />
relatively minor rehabilitation.<br />
vhcb continued <strong>to</strong> support affordable homeownership both <strong>the</strong> through <strong>the</strong><br />
buyer-initiated Homeland Program as well as by subsidizing homes in condominium<br />
or subdivision developments. hud Economic Development Initiative<br />
funds were used <strong>to</strong> create a land bank <strong>to</strong> secure sites in prominent down<strong>to</strong>wn<br />
or village center locations for future development as affordable housing. The<br />
Board also awarded money <strong>to</strong> facilitate <strong>the</strong> acquisition of <strong>the</strong> assets of <strong>the</strong><br />
former Rockingham Area Community Land Trust by <strong>the</strong> Windham <strong>Housing</strong><br />
Trust, now known as <strong>the</strong> Windham & Windsor <strong>Housing</strong> Trust, as well as <strong>to</strong> help<br />
<strong>the</strong> state’s five homeownership centers provide assistance <strong>to</strong> <strong>Vermont</strong>ers who<br />
suffered significant damage <strong>to</strong> <strong>the</strong>ir homes from Tropical S<strong>to</strong>rm Irene.<br />
vhcb also continued <strong>to</strong> focus on increasing <strong>the</strong> energy efficiency of <strong>the</strong><br />
state’s non-profit owned affordable housing s<strong>to</strong>ck in order <strong>to</strong> position those<br />
properties for a sustainable future. A number of <strong>the</strong> activities in <strong>the</strong> MacArthur<br />
Foundation grant support <strong>the</strong>se efforts along with supplemental funds from<br />
<strong>the</strong> High Meadows Fund and <strong>the</strong> Doris Duke Charitable Foundation. Federal<br />
arra State Energy Program funding for 725 apartments in 88 buildings will<br />
result in energy savings averaging 37% and as high as 69% in some cases. The<br />
majority of <strong>the</strong>se retrofits include installation of solar domestic hot water and<br />
many include installation of more energy efficient mechanical systems as well<br />
as insulation and air sealing. arra State Energy Program funding across <strong>the</strong><br />
88 buildings will result in annual savings of over 2.3 million cubic feet of natural<br />
gas, over 100,000 gallons of oil or propane and approximately 485,000 kilowatt<br />
hours per year in electrical savings. In addition, on-site solar domestic hot water<br />
systems installed under this program will generate <strong>the</strong> equivalent of 350,000<br />
kilowatt hours per year of energy. All of <strong>the</strong>se projects were highly leveraged<br />
through successful partnerships with <strong>the</strong> <strong>Vermont</strong> Fuel Efficiency Program and<br />
regional wea<strong>the</strong>rization programs, with a dollar of funding from vhcb’s arra<br />
State Energy Program leveraging over $4 in o<strong>the</strong>r funding.<br />
vhcb-funded developments are located in all corners of <strong>the</strong> state, from<br />
Benning<strong>to</strong>n <strong>to</strong> St. Albans and from Guilford <strong>to</strong> Derby. In keeping with <strong>the</strong><br />
vhcb mission, nearly all are located in down<strong>to</strong>wn, village center or growth<br />
center locations, or create logical extensions of residential neighborhoods; many<br />
are in his<strong>to</strong>ric buildings.<br />
4<br />
Champlain <strong>Housing</strong> Trust pho<strong>to</strong>
CONSERVATION<br />
PROGRAMS<br />
During <strong>the</strong> past 18 months, VHCB committed funds <strong>to</strong> conserve 53 farms<br />
in 11 of <strong>Vermont</strong>’s 14 counties. VHCB investments also protected 18<br />
conservation properties of statewide or local significance, and contributed<br />
<strong>to</strong> <strong>the</strong> purchase and/or res<strong>to</strong>ration of three his<strong>to</strong>ric buildings. Over this<br />
same period, VHCB’s strong public/private partnerships leveraged an additional<br />
$15.5 million in federal funding, private foundation funding, bargain sales and<br />
local fundraising, multiplying <strong>the</strong> impact of <strong>the</strong> state’s investment.<br />
Wea<strong>the</strong>r events in <strong>2011</strong> brought multiple challenges for <strong>Vermont</strong> farmers and<br />
homeowners, beginning with spring flooding and followed by <strong>the</strong> momen<strong>to</strong>us<br />
Tropical S<strong>to</strong>rm Irene in late August that affected thousands of acres of <strong>Vermont</strong>’s<br />
farm fields and over 700 homes. Governor Shumlin has identified Irene as an<br />
event that may be linked <strong>to</strong> climate change. If this is so, <strong>the</strong>n we need <strong>to</strong> prepare<br />
for future s<strong>to</strong>rms by limiting development in key areas, and by maintaining<br />
healthy forests, wetlands, and floodplains, so that more surface water runoff can<br />
be slowed and absorbed.<br />
VHCB has been working closely for several years with <strong>the</strong> state’s River<br />
Management Program and o<strong>the</strong>r partners <strong>to</strong> include river corridor protections<br />
in farm easements where it makes sense and landowners are interested; in light<br />
of <strong>the</strong> extreme flooding of <strong>2011</strong>, we will focus even more effort on protecting<br />
river corridors and floodplain areas, as part of both our farmland conservation<br />
and our natural area/public recreation work.<br />
AGRICULTURAL LAND CONSERVATION<br />
Despite <strong>the</strong> wea<strong>the</strong>r-related challenges of <strong>the</strong> past year, <strong>Vermont</strong>’s agricultural<br />
economy is in <strong>the</strong> midst of a renaissance, fueled by creative agricultural<br />
entrepreneurs working <strong>to</strong> meet <strong>the</strong> growing consumer demand for healthy,<br />
locally produced food. The Farm <strong>to</strong> Plate ten-year vision for <strong>Vermont</strong>’s food<br />
system and <strong>the</strong> Working Landscape Action Plan have engaged hundreds of citizens<br />
and multiple partners in a collaborative and concerted effort <strong>to</strong> streng<strong>the</strong>n<br />
our agricultural and forest economies while stepping up <strong>the</strong> conservation of<br />
<strong>the</strong> working landscape. VHCB and its farmland conservation partners assist<br />
increasingly diverse types of farm operations, ranging from conventional and<br />
organic dairies, <strong>to</strong> orchards, vineyards, beef farms, diversified lives<strong>to</strong>ck and<br />
vegetable operations, crop farmers and CSA (community supported agriculture)<br />
operations.<br />
Farmers sell conservation easements <strong>to</strong> help facilitate transfers, both within<br />
<strong>the</strong> family and <strong>to</strong> new farm buyers (more than one-third of all projects), <strong>to</strong> pay<br />
down debt, and <strong>to</strong> expand and/or diversify <strong>the</strong>ir operations.<br />
The federal Farmland Protection Program, administered by <strong>the</strong> USDA<br />
Natural Resources Conservation Service, continues <strong>to</strong> provide a key source of<br />
matching funds for all of VHCB’s farmland conservation projects, providing<br />
roughly half of <strong>the</strong> funding for every conserved farm.<br />
5<br />
Above Farm fields; The Law<strong>to</strong>n family worked with <strong>the</strong><br />
<strong>Vermont</strong> Land Trust <strong>to</strong> conserve 410 acres of farmland in<br />
Bridport abutting <strong>the</strong>ir conserved, 400-acre home farm.<br />
Fiscal Year <strong>2011</strong><br />
CONSERVATION<br />
State Funding Commitments<br />
Agricultural Land:<br />
$2,769,186<br />
27 farms; 4,697 acres<br />
Natural Areas,<br />
Recreational Lands,<br />
& His<strong>to</strong>ric Properties:<br />
$1,139,856<br />
10 projects; 682 acres;<br />
2 his<strong>to</strong>ric properties<br />
Federal FundS<br />
USDA Natural Resources<br />
Conservation Service Farm<br />
and Ranchland Protection Program:<br />
$3,429,500<br />
Bob Eddy pho<strong>to</strong><br />
<strong>Vermont</strong> Land Trust pho<strong>to</strong>
Top <strong>to</strong> bot<strong>to</strong>m: The Catamount Trail Association used<br />
VHCB funds <strong>to</strong> purchase a trail easement in Lowell,<br />
establishing a protected backcountry ski trail<br />
corridor from <strong>the</strong> <strong>to</strong>p of <strong>the</strong> Lowell Mountains <strong>to</strong> <strong>the</strong><br />
base of Hazen’s Notch that is over 6 miles in length;<br />
Harvey and Donna Smith sell naturally raised beef<br />
on <strong>the</strong>ir New Haven farm, conserved this year<br />
with <strong>the</strong> <strong>Vermont</strong> Land Trust; Bikers enjoy a ride in<br />
Barre’s his<strong>to</strong>ric quarry area on Mills<strong>to</strong>ne Hill. The<br />
Trust for Public Land is working with <strong>the</strong> Town of<br />
Barre <strong>to</strong> conserve 343 acres with an expansive trail<br />
system.<br />
Catamount Trail Association pho<strong>to</strong><br />
Mills<strong>to</strong>ne Trails l Association pho<strong>to</strong> <strong>Vermont</strong> Land Trust pho<strong>to</strong><br />
NATURAL AREAS and RECREATIONAL LANDS<br />
Conservation projects over <strong>the</strong> past 18 months include investments in two<br />
<strong>to</strong>wn forests and recreational areas with miles of existing trails (Mills<strong>to</strong>ne Hill<br />
in Barre and Cady Hill in S<strong>to</strong>we), and three additions <strong>to</strong> Nature Conservancy<br />
Preserves in Fair Haven, Guildhall and Dummers<strong>to</strong>n. VHCB also funded three<br />
riparian projects protecting habitat and providing public access, in Middlesex,<br />
Duxbury and Enosburgh, as well as <strong>the</strong> acquisition by <strong>the</strong> <strong>to</strong>wn of Wells of lakeshore<br />
property and <strong>to</strong>wn forestland.<br />
HISTORIC PROPERTIES<br />
In fiscal and calendar year <strong>2011</strong>, <strong>the</strong> board invested in his<strong>to</strong>ric buildings<br />
available for public use in Brigh<strong>to</strong>n and S<strong>to</strong>we, helping <strong>to</strong> protect <strong>Vermont</strong>’s<br />
cultural landscape, a critical component of our state’s identity and appeal <strong>to</strong> residents<br />
and visi<strong>to</strong>rs alike. VHCB works with <strong>the</strong> Preservation Trust of <strong>Vermont</strong><br />
and local <strong>to</strong>wns and his<strong>to</strong>rical societies <strong>to</strong> protect his<strong>to</strong>rically-significant public<br />
buildings in <strong>Vermont</strong>’s down<strong>to</strong>wns and village centers.<br />
ECONOMIC and ENVIRONMENTAL BENEFITS<br />
Conservation helps keep farmland in farming and forestland forested—in<br />
o<strong>the</strong>r words, maintains <strong>the</strong> working landscape treasured by both locals and<br />
<strong>to</strong>urists. Investments in our working landscape streng<strong>the</strong>n <strong>the</strong> agricultural and<br />
forestry industries, enhancing those economies. Protecting recreational lands<br />
reaps economic benefits as well. For example, a study of one popular mountain<br />
bike center in East Burke estimated that bikers contribute $1.5 <strong>to</strong> $2 million <strong>to</strong><br />
<strong>the</strong> local economy each year. VHCB’s contribution <strong>to</strong> major conservation and<br />
recreation projects that include mountain bike trails in Barre and S<strong>to</strong>we will<br />
help <strong>to</strong> support multiple businesses in those areas.<br />
Conservation investments in farm and recreation lands along river corridors<br />
promote flood resiliency, preventing development in areas needed by rivers <strong>to</strong><br />
access <strong>the</strong>ir natural floodplains, which in turn mitigates impacts on alreadydeveloped<br />
village centers and down<strong>to</strong>wns. Protecting public access <strong>to</strong> trails<br />
and <strong>to</strong> water augments public health efforts by providing opportunities for<br />
<strong>Vermont</strong>ers <strong>to</strong> get outside and exercise, whe<strong>the</strong>r by walking, swimming, biking,<br />
hunting or skiing. Attractions like <strong>the</strong> Long Trail, <strong>the</strong> Catamount Trail and<br />
<strong>the</strong> Cross <strong>Vermont</strong> Trail attract hikers, skiers and cyclists, bringing millions in<br />
<strong>to</strong>urist dollars in<strong>to</strong> <strong>the</strong> state.<br />
6
<strong>Vermont</strong> Farm Viability Program<br />
The <strong>Vermont</strong> Farm Viability Program (vfvp) provides business planning,<br />
technical assistance and implementation grants <strong>to</strong> <strong>Vermont</strong> farmers and<br />
ag-related businesses. Businesses receive individually tailored services from<br />
advisors at <strong>the</strong> Intervale Center, nofa-vt, uvm Extension or through<br />
private consultants.The program builds <strong>Vermont</strong>’s agricultural infrastructure<br />
and increases <strong>the</strong> supply and distribution of <strong>Vermont</strong> agricultural products<br />
while also improving <strong>the</strong> viability of <strong>Vermont</strong> farms.<br />
<strong>2011</strong> Program Highlights<br />
• The program enrolled 60 farms and 17 ag-related businesses for technical<br />
assistance and business planning services and awarded $183,520 in implementation<br />
grants <strong>to</strong> farmers and agricultural processing, distribution and<br />
marketing businesses. The grants pay for equipment, facilities, marketing<br />
materials, and conservation investments.<br />
• The Farm Viability Program continued <strong>to</strong> partner with <strong>the</strong> <strong>Vermont</strong><br />
Sustainable Jobs Fund <strong>to</strong> successfully launch <strong>the</strong> <strong>Vermont</strong> Agricultural<br />
Development Program (vadp). With support from aic and private foundations,<br />
<strong>the</strong> vadp is now providing in-depth technical assistance <strong>to</strong> eight<br />
key food and ag-related businesses.<br />
• Using an award from <strong>the</strong> <strong>Vermont</strong> Agriculture Innovation Center ( aic),<br />
which was created with funding secured by Sena<strong>to</strong>r Leahy, <strong>the</strong> Farm<br />
Viability Program partnered with <strong>the</strong> <strong>Vermont</strong> Food Venture Center, <strong>the</strong><br />
Center for an Agricultural Economy and nofa-vt <strong>to</strong> extend business<br />
planning and technical assistance services <strong>to</strong> ag-related businesses and<br />
value-added enterprises.<br />
• Also with funding from <strong>the</strong> aic, <strong>the</strong> Farm Viability Program extended<br />
its business planning and technical services <strong>to</strong> meet <strong>the</strong> needs of meat<br />
producers and processors, in order <strong>to</strong> expand <strong>Vermont</strong>’s capacity <strong>to</strong> meet<br />
<strong>the</strong> local, regional and national demand for <strong>Vermont</strong> meat products.<br />
Above, farmers Americo and Jill Balzano<br />
worked with <strong>the</strong> Viability Program on a<br />
business plan for <strong>the</strong>ir plan <strong>to</strong> develop<br />
an orchard at <strong>the</strong>ir new property in<br />
_______.<br />
The <strong>Vermont</strong> Food Venture Center<br />
at <strong>the</strong> groundbreaking ceremony<br />
in Hardwick.<br />
pho<strong>to</strong>: Center for an Agricultural Economy<br />
Johannes Kroemer pho<strong>to</strong><br />
7<br />
Left: Pete Colman works up a batch of artisanal<br />
sausage for his start-up business, <strong>Vermont</strong> Salumi<br />
Above, from <strong>to</strong>p: Chris Siegriest, Bread and Roses<br />
Farm, Westford; Ben Gleason shows off new grain<br />
milling equipment financed in part by <strong>the</strong> Farm<br />
Viability Program; Clark Parmelee raises poultry,<br />
beef, and pork on his farm in Randolph and offers<br />
mobile poultry slaughtering services <strong>to</strong> farmers with<br />
new equipment purchased last year.
<strong>Vermont</strong> <strong>Housing</strong> & Conservation Board<br />
AmeriCorps<br />
VHCB AmeriCorps engages 31 AmeriCorps members <strong>to</strong> serve with 25 housing,<br />
environmental and energy conservation organizations statewide, expanding <strong>the</strong><br />
ability of <strong>the</strong>se groups <strong>to</strong> mobilize volunteers and provide services including<br />
emergency shelter, housing placement, financial literacy, environmental<br />
education, invasive species management, and more. Members provide essential<br />
services while also developing leadership and job skills.<br />
<strong>2011</strong> Program Highlights<br />
From <strong>to</strong>p: Happy campers in an after school program<br />
at an affordable housing development staffed by a<br />
VHCB AmeriCorps member; Member Jessamy Schwartz<br />
giving a live rap<strong>to</strong>r demonstration in her position at <strong>the</strong><br />
<strong>Vermont</strong> Institute for Natural Science; VHCB Ameri-<br />
Corps members were on hand <strong>to</strong> help homeowners in<br />
down<strong>to</strong>wn Waterbury following <strong>the</strong> flooding caused by<br />
Tropical S<strong>to</strong>rm Irene.<br />
For more information,<br />
visit: www.vhcb.org/acorps<br />
• VHCB was awarded a highly competitive, $1.1 million, 3-year grant <strong>to</strong><br />
continue <strong>the</strong> Program, allowing it <strong>to</strong> expand its priorities <strong>to</strong> include energy<br />
efficiency.<br />
• The overwhelming majority of sponsoring organizations report <strong>the</strong>ir<br />
member has a significant impact on <strong>the</strong>ir reach, quality and range of services.<br />
• Nearly 100% of members last year reported completing <strong>the</strong> Program better<br />
equipped <strong>to</strong> address issues facing <strong>the</strong>ir community and <strong>to</strong> secure employment.<br />
• Each year, members directly assist an average 9,000 <strong>Vermont</strong>ers with<br />
housing needs, including emergency shelter, financial literacy, and/or<br />
transition in<strong>to</strong> permanent housing.<br />
• In <strong>the</strong> last grant round, members mobilized over 4,000 volunteers who<br />
provided child care, trail work, fundraising, construction of wheelchair ramps,<br />
and more.<br />
• Each year, over 7,000 youth participate in land stewardship activities<br />
through environmental programming led by members at nature centers,<br />
day camps and schools.<br />
• Toge<strong>the</strong>r with volunteers, members annually steward an average of 15,000<br />
acres of conserved and public lands.<br />
• Through wea<strong>the</strong>rization and o<strong>the</strong>r energy efficiency measures, members<br />
helped reduce energy consumption of 730 affordable housing units over <strong>the</strong><br />
last three years.<br />
• 21% of last year’s members were hired on by <strong>the</strong>ir sponsoring organization.<br />
8
<strong>Vermont</strong> Lead Hazard Reduction Program<br />
In early <strong>2011</strong> VHCB was awarded a $3.1 million Lead Hazard Control Grant<br />
from HUD <strong>to</strong> assist more than 230 homes and apartments throughout<br />
<strong>the</strong> State through 2013. Since 1994, <strong>the</strong> program has controlled lead paint<br />
hazards in more than 2,000 units of housing serving low-income families.<br />
Over half of <strong>the</strong>se units were assisted as part of major rehabilitation projects<br />
completed by <strong>Vermont</strong>’s strong network of non-profit housing developers and<br />
land trusts, and will thus remain perpetually affordable.<br />
The VHCB Lead Program provides technical assistance and direct funding<br />
for mitigation of lead paint hazards. Typical projects include window replacement,<br />
friction surface treatments, paint stabilization, and rigorous cleaning.<br />
Residents are relocated during <strong>the</strong> work and cannot return until clearance dust<br />
testing confirms <strong>the</strong>ir unit is safe. Technical assistance includes identifying all<br />
lead-painted surfaces, conducting a risk assessment, developing project specifications,<br />
assistance with contrac<strong>to</strong>r bidding, lab analysis and o<strong>the</strong>r services.<br />
Eligibility is based primarily on <strong>the</strong> income of <strong>the</strong> residents, be <strong>the</strong>y owneroccupants<br />
or tenants.<br />
The program offers free training <strong>to</strong> meet <strong>the</strong> requirements of <strong>Vermont</strong>’s lead<br />
paint law for landlords, contrac<strong>to</strong>rs, property managers and o<strong>the</strong>rs. With its<br />
partners <strong>the</strong> <strong>Vermont</strong> Department of Health, Parks Place Community Center in<br />
Bellows Falls, and <strong>the</strong> <strong>Vermont</strong> Lead Safety Project, <strong>the</strong> VHCB Lead Program<br />
works <strong>to</strong> educate all <strong>Vermont</strong>ers about how <strong>to</strong> prevent lead poisoning. <strong>Vermont</strong><br />
has a lot of old housing, <strong>the</strong> majority of which was built before lead paint was<br />
banned in 1978. Because lead poisoning causes permanent, irreversible damage<br />
<strong>to</strong> young children, prevention is <strong>the</strong> only effective strategy.<br />
The HUD grant received this year includes an additional $100,000 <strong>to</strong> address<br />
o<strong>the</strong>r health and safety issues identified in enrolled properties and <strong>to</strong> train<br />
housing professionals in healthy homes principles. This additional funding<br />
is indicative of recent federal efforts by HUD, CDC, and EPA <strong>to</strong> take a more<br />
holistic approach <strong>to</strong> providing assistance for housing rehabilitation and hazard<br />
mitigation.<br />
The VHCB Lead Program has benefitted from <strong>the</strong> long-time service of<br />
current staff, two of whom have been with <strong>the</strong> program since 1996:<br />
Parents, landords, contrac<strong>to</strong>rs, property<br />
managers and o<strong>the</strong>rs: for information<br />
about lead paint safety, applicable regulations,<br />
and a schedule of free training<br />
sessions, visit www.LeadSafe<strong>Vermont</strong>.org<br />
Homeowners and in-home day care<br />
providers: <strong>to</strong> learn more about technical<br />
and financial assistance from <strong>the</strong> VHCB<br />
Lead Paint Program, call: 1-800-290-0527<br />
or 802-828-5064 or visit:<br />
ww.vhcb.org/lead.html<br />
Remember, lead poisoning<br />
is always preventable.<br />
Ron Rupp, Program Direc<strong>to</strong>r (15 years)<br />
Martin Bonneau, Senior Project Designer (15 years)<br />
Robert Zatzke, Program Coordina<strong>to</strong>r (13 years)<br />
Diane Mackay, Program Assistant (6 years)<br />
9
<strong>Vermont</strong> <strong>Housing</strong> &<br />
Conservation Board<br />
Balance Sheet<br />
June 30, <strong>2011</strong><br />
<strong>General</strong> Funds<br />
Restricted Funds<br />
ASSETS<br />
Cash Accounts $ 4,713,474 $ 1,445,063<br />
Due from O<strong>the</strong>r Funds 565,390 476,829<br />
Receivables 15,775 45,449<br />
Loans Receivables 90,730,274 46,495,114<br />
Due from State of <strong>Vermont</strong> - 6,226,393<br />
Administrative Reimbursements Receivable - 3,480,126<br />
Anticipated Grant Revenues 3,074,405 17,250,853<br />
TOTAL ASSETS 99,099,318 $ 75,419,827<br />
LIABILITIES and FUND EQUITY<br />
LIABILITIES<br />
Accounts Payable & Accruals $ 180,503 $ 21,566<br />
Due <strong>to</strong> O<strong>the</strong>r Funds 476,829 565,390<br />
Due <strong>to</strong> <strong>the</strong> State of <strong>Vermont</strong> - 2,949,534<br />
Deferred Revenue – Loans 90,730,274 46,223,419<br />
Anticipated Grants Committed 3,074,405 17,250,853<br />
Long-term Debt - 271,695<br />
TOTAL LIABILITIES 94,462,011 67,282,457<br />
FUND EQUITY<br />
Fund Balances<br />
Restricted for Project Commitments 4,522,009 6,164,281<br />
Restricted for Programs - 1,973,089<br />
Assigned 70,599 -<br />
Unassigned 44,699 -<br />
TOTAL FUND EQUITY 4,637,307 8,137,370<br />
TOTAL LIABILITIES and FUND EQUITY $ 99,099,318 $ 75,419,827<br />
To receive a copy of <strong>the</strong> audited financial statement, please contact VHCB.<br />
10
Revenues<br />
$24,819,081<br />
State Capital<br />
Appropriation<br />
16%<br />
O<strong>the</strong>r Income<br />
3%<br />
State Property<br />
Transfer Tax<br />
25%<br />
Federal Grant<br />
Revenue<br />
56%<br />
O<strong>the</strong>r Project<br />
Related Expense<br />
6%<br />
Administration<br />
9%<br />
Expenditures<br />
$25,959,175<br />
Grants and Loans<br />
85%<br />
A complete list of VHCB funding commitments for <strong>the</strong> period covered by this report is<br />
available on our website at www.vhcb.org/publications.html<br />
Application deadlines, Board meeting dates and VHCB policies are available from <strong>the</strong> VHCB<br />
office and are posted on <strong>the</strong> Board’s web site (www.vhcb.org). Applications are available by<br />
request. Applicants should call staff prior <strong>to</strong> completing an application. Site visits by VHCB staff<br />
are required prior <strong>to</strong> submission of housing applications.<br />
Please call us at 828-3250 for more information or with any questions.<br />
11
<strong>Vermont</strong> Land Trust pho<strong>to</strong><br />
<strong>Housing</strong> <strong>Vermont</strong> pho<strong>to</strong><br />
Pho<strong>to</strong> by Joseph Gresser/Bar<strong>to</strong>nChronicle.com<br />
Mills<strong>to</strong>ne Trails Association pho<strong>to</strong><br />
pho<strong>to</strong>s from <strong>to</strong>p, left <strong>to</strong> right: Wayne Stearns<br />
Farm, Ferrisburgh: When a 92-acre field<br />
went on <strong>the</strong> market, 27 neighbors bought <strong>the</strong><br />
property, conserved <strong>the</strong> land with <strong>the</strong> <strong>Vermont</strong><br />
Land Trust, using VHCB and NRCS funding, and<br />
sold it <strong>to</strong> <strong>the</strong> farmer. Ellis Block, Springfield:<br />
After a down<strong>to</strong>wn fire, nine apartments were<br />
res<strong>to</strong>red, along with an art deco relief and movie<br />
<strong>the</strong>ater. <strong>Vermont</strong> Food Venture Center,<br />
Hardwick: Sena<strong>to</strong>r Leahy cuts <strong>the</strong> ribbon at<br />
this facility which was supported in part by HUD<br />
EDI funds administered by VHCB; Barre Town<br />
Forest: A VHCB grant <strong>to</strong> <strong>the</strong> Trust for Public Land will help <strong>the</strong> Town of Barre acquire 343 acres of former quarry lands with a<br />
70-mile trail network for recreational use and forest management; Barre Street Senior <strong>Housing</strong>, Montpelier <strong>Housing</strong><br />
being developed on <strong>the</strong> upper s<strong>to</strong>ries of <strong>the</strong> senior center by Capital City <strong>Housing</strong> Foundation will generate 85% of its own energy.<br />
12
<strong>Vermont</strong> <strong>Housing</strong> & Conservation Board<br />
<strong>Annual</strong> <strong>Report</strong> <strong>to</strong> <strong>the</strong> <strong>General</strong> <strong>Assembly</strong><br />
Funding Commitments<br />
FY <strong>2011</strong> and July—December <strong>2011</strong>
<strong>Housing</strong> Awards July 2010– December <strong>2011</strong><br />
Barre Street Senior<br />
<strong>Housing</strong>, Montpelier<br />
Following a fire, <strong>the</strong> City of Montpellier<br />
donated this building <strong>to</strong><br />
Capital City <strong>Housing</strong> Foundation,<br />
Inc., a subsidiary of <strong>the</strong> Montpelier<br />
<strong>Housing</strong> Authority, and <strong>to</strong> <strong>the</strong><br />
Montpelier Senior Center. CCHF<br />
will create 14 apartments on<br />
<strong>the</strong> upper s<strong>to</strong>ries for seniors and<br />
persons with disabilities. USDA<br />
Rural Development will provide<br />
rental subsidies for 12 households.<br />
The ground floor and part of <strong>the</strong><br />
second s<strong>to</strong>ry will host <strong>the</strong> Montpelier<br />
Senior Center. While keeping<br />
<strong>the</strong> his<strong>to</strong>ric features intact, solar<br />
pho<strong>to</strong>voltaic cells, a wood pellet<br />
boiler, super insulation, solar hot<br />
Addison County Community Trust<br />
Organizational Development Grant.<br />
$33,300 award for organizational development<br />
costs. $20,373 federal CHDO award.<br />
Total organizational budget: $1,440,000<br />
Burling<strong>to</strong>n <strong>Housing</strong> Authority<br />
Wharf Lane Commons, Burling<strong>to</strong>n.<br />
$725,000 VHCB award for acquisition<br />
and rehablitiation of 37 units of federally<br />
assissted units of rental housing at risk of<br />
conversion <strong>to</strong> market rate. $200,000 HUD<br />
Special Purpose Grant. Total development<br />
costs: $8,655,835<br />
King Street, Burling<strong>to</strong>n. $400,000<br />
VHCB award <strong>to</strong> develop 16 rental units<br />
targeted <strong>to</strong> individuals who are homeless,<br />
at-risk of homelessness, or in need<br />
of service-supported affordable housing.<br />
Project-based rental subsidies and service<br />
coordina<strong>to</strong>r provided by <strong>the</strong> Burling<strong>to</strong>n<br />
<strong>Housing</strong> Authority (position funded by<br />
<strong>the</strong> Agency of Human Services). Total<br />
development costs: $2,200,000<br />
Capital City <strong>Housing</strong> Foundation<br />
58 Barre Street, Montpelier. $350,000<br />
VHCB award <strong>to</strong> develop 14 units of<br />
housing for seniors and persons with<br />
disabilities on <strong>the</strong> upper s<strong>to</strong>ries of a firedamaged<br />
building that formerly housed<br />
<strong>the</strong> senior center. 85% of energy consumption<br />
generated/conserved on site with<br />
super insulation, pho<strong>to</strong>voltaic electricity<br />
generation, solar hot water, wood pellet<br />
boiler, energy efficient lighting and heat<br />
exchange ventilation. His<strong>to</strong>ric building<br />
donated by <strong>the</strong> City; $105,000 in Montpelier<br />
<strong>Housing</strong> Trust Funds; $321,600<br />
HOME Program award; $70,000 ARRA<br />
funding from <strong>the</strong> <strong>Vermont</strong> Clean Energy<br />
Development Program. USDA Rural<br />
Development 515 Program funding and<br />
rental assistance. Total residential development<br />
costs: $3,240,700<br />
Ca<strong>the</strong>dral Square Corporation<br />
3 Ca<strong>the</strong>dral Square, Burling<strong>to</strong>n. $325,000<br />
VHCB award for <strong>the</strong> refinance and<br />
rehabilitation of 108 apartments for<br />
elderly residents with rental assistance<br />
in down<strong>to</strong>wn Burling<strong>to</strong>n. The development<br />
includes 28 units of assisted living.<br />
$50,000 VHCB energy grant for pho<strong>to</strong>voltaic<br />
installation. Cathdral Square will sell<br />
surplus power back <strong>to</strong> Burling<strong>to</strong>n Electric.<br />
$400,000 HUD Green Retrofit Award.<br />
Total development cost: $6,920,259<br />
Thayer Senior <strong>Housing</strong> Phase I, Burling<strong>to</strong>n.<br />
$593,095 VHCB award <strong>to</strong> develop<br />
33 units of new construction, infill senior<br />
housing in <strong>the</strong> New North End adjacent<br />
<strong>to</strong> Leddy Park. Three s<strong>to</strong>ries with underground<br />
parking, in collaboration with<br />
Champlain <strong>Housing</strong> Trust and developer<br />
Eric Farrell, as part of a larger, intergenerational<br />
development including family<br />
rental housing and market rate housing.<br />
O<strong>the</strong>r funding sources include $283,000<br />
HUD EDI Special Purpose Grant, NSP,<br />
Burling<strong>to</strong>n <strong>Housing</strong> Trust Fund, Effi-<br />
Phoenix House, Burling<strong>to</strong>n. $162,000<br />
water, energy efficient lighting VHCB award <strong>to</strong> develop a 19-bed servicesupported<br />
transitional housing facility<br />
and heat exchange ventilation will<br />
for people leaving <strong>the</strong> correctional system<br />
allow <strong>the</strong> building <strong>to</strong> generate 85%<br />
and recovering from substance abuse.<br />
of its own energy.<br />
One bedroom for an on-site manager.<br />
Total development costs: $862,000<br />
ciency <strong>Vermont</strong>, bargain sale of <strong>the</strong> lot.<br />
2 Total development costs: $7,915,137 2
<strong>Housing</strong> Awards July 2010–December <strong>2011</strong><br />
Phoenix House, Burling<strong>to</strong>n<br />
provides housing and support services<br />
for men recovering from drug and<br />
alcohol abuse. VHCB funding helped<br />
Burling<strong>to</strong>n <strong>Housing</strong> Authority <strong>to</strong><br />
purchase and rehabilitate this Vic<strong>to</strong>rian<br />
house and lease it <strong>to</strong> Phoenix<br />
House. Residents participate in a<br />
3- <strong>to</strong> 24-month sober living program<br />
featuring weekly recovery groups,<br />
individual <strong>the</strong>rapy, and self-help<br />
meetings.<br />
Thayer Senior <strong>Housing</strong> Phase II, Burling<strong>to</strong>n.<br />
$600,000 VHCB award <strong>to</strong> develop<br />
an additional 32 units of new construction,<br />
infill senior housing in <strong>the</strong> New<br />
North End adjacent <strong>to</strong> Leddy Park. (See<br />
above description.)<br />
Organizational Development Grant.<br />
$33,300 award for organizational development<br />
costs. Total organizational budget:<br />
$1,300,261<br />
Central <strong>Vermont</strong> Community Land Trust<br />
Whistles<strong>to</strong>p and Verdmont Mobile Home<br />
Parks, Bradford and Waitsfield. $250,000<br />
VHCB award <strong>to</strong> refinance and upgrade<br />
infrastructure in two CVCLT-owned<br />
mobile home parks with a <strong>to</strong>tal of 41 lots.<br />
S<strong>to</strong>rmwater, electrical and water systems<br />
will be improved at <strong>the</strong> Waitsfield<br />
park. Site work in Bradford will include<br />
grading, new catch basins and removing<br />
trees. Road and driveway paving, connection<br />
<strong>to</strong> <strong>to</strong>wn water (Verdmont) and<br />
sewer (Whistles<strong>to</strong>p). Concrete slabs will<br />
be poured under homes upon turnover.<br />
Total development costs: $1,132,500<br />
Organizational Development Grant.<br />
$31,800 award for organizational development<br />
costs. $20,373 federal CHDO award.<br />
Total organizational budget: $3,500,000<br />
Champlain <strong>Housing</strong> Trust<br />
Organizational Development Grant.<br />
$66,000 award for organizational development<br />
costs. $20,373 federal CHDO<br />
award. Total organizational budget:<br />
$6,825,668<br />
Cedar’s Edge, Essex. $62,815 VHCB<br />
award for new, 30-unit multi-family<br />
rental development. $337,185 HOME<br />
Program award. $231,325 HUD Special<br />
Project Grant. Total development costs:<br />
$5,403,525<br />
City Neighborhoods, Burling<strong>to</strong>n and<br />
Winooski. $508,348 VHCB award <strong>to</strong> refinance<br />
and improve 10 buildings with<br />
40 units. Energy improvements include<br />
conversion <strong>to</strong> central, high-efficiency<br />
heating systems in each building and<br />
installation of high levels of insulation<br />
and wea<strong>the</strong>rization resulting in an overall<br />
30-50% reduction in fuel usage. $236,652<br />
HOME Program award. $76,315 ARRA<br />
State Energy Program funding. Total<br />
redevelopment costs: $6,825,000<br />
Harring<strong>to</strong>n Village, Shelburne. $500,000<br />
VHCB award for construction of 42<br />
affordable homes in Shelburne village.<br />
$950,000 HOME Program award. Total<br />
development costs: $10,070,715<br />
pho<strong>to</strong>: Phoenix House: Rising Above Addiction<br />
Pine Manor Senior <strong>Housing</strong>, Alburgh<br />
Village. $240,000 federal HOME funds<br />
and $46,882 ARRA State Energy Program<br />
funding for acquisition and renovation of<br />
16 apartments for elderly residents with<br />
rental assistance. Pine Manor is located<br />
in Alburgh’s designated village center.<br />
Solar hot water. Total development cost:<br />
$2,160,333<br />
Avenue Apartments, Burling<strong>to</strong>n.<br />
$600,000 VHCB award for new construction<br />
of 33 units of family housing in <strong>the</strong><br />
New North End neighborhood of Burling<strong>to</strong>n.<br />
Part of a planned redevelopment<br />
of a large parcel on North Avenue <strong>to</strong><br />
include senior and market rate housing<br />
close <strong>to</strong> services on public transportation<br />
route. City of Burling<strong>to</strong>n $500,000.<br />
Bargain sale of <strong>the</strong> lot by <strong>the</strong> state of<br />
<strong>Vermont</strong>. Solar hot water, high energy<br />
efficiency standards. $150,000 HUD EDI<br />
award. Total development costs: 7,617,222<br />
Gilman <strong>Housing</strong> Trust<br />
Governor Mansion Apartments, Newport<br />
City. $280,612 HOME Program award for<br />
15 senior housing apartments. $22,459<br />
ARRA State Energy Program funds. Total<br />
development costs: $608,266<br />
3
<strong>Housing</strong> Awards July 2010– December <strong>2011</strong><br />
<strong>Housing</strong> Foundation, Inc.<br />
Depot Street Apartments, Be<strong>the</strong>l. $107,820<br />
VHCB award <strong>to</strong> rehabilitate two buildings<br />
with 6 family rental and senior apartments,<br />
all with HUD rental assistance,<br />
located in <strong>the</strong> center of <strong>the</strong> village. Rehab<br />
<strong>to</strong> include new siding, insulation, interior<br />
renovations, new roofs, a new boiler and<br />
heating system, and rebuilding <strong>the</strong> entries<br />
and stairs. Extensive site work <strong>to</strong> address<br />
moisture problems: a new retaining wall,<br />
grading of <strong>the</strong> site, repair walkways. New<br />
water service, cutting back trees. $462,230<br />
HOME Program award. $58,481 ARRA<br />
State Energy Program funding. Total<br />
development costs: $1,997,517<br />
4<br />
Newport Family <strong>Housing</strong><br />
In down<strong>to</strong>wn Newport, <strong>the</strong> Gilman<br />
<strong>Housing</strong> Trust and <strong>Housing</strong><br />
<strong>Vermont</strong> are redeveloping five<br />
buildings with 21 new and existing<br />
units. The partners will construct<br />
14 new apartments in two new<br />
buildings, rehabilitate seven<br />
apartments in three existing buildings,<br />
and demolish five substandard<br />
buildings. This smart<br />
growth project will increase <strong>the</strong><br />
density on Newportís Main Street,<br />
providing a positive boost <strong>to</strong> <strong>the</strong><br />
vitality of <strong>the</strong> down<strong>to</strong>wn area.<br />
VHCB provided funding for <strong>the</strong><br />
acquisition and rehabilitation, plus<br />
federal HOME funds <strong>to</strong> increase<br />
affordability. Energy efficiency<br />
improvements will help <strong>the</strong> buildings<br />
remain sustainable in<strong>to</strong> <strong>the</strong><br />
future. pho<strong>to</strong>: Gilman <strong>Housing</strong> Trust<br />
St. Johnsbury <strong>Housing</strong>, St. Johnsbury.<br />
$450,000 HOME Program award<br />
for rehabilitation of 24 rental apartments.<br />
USDA Rural Development rental<br />
assistance.<br />
Hotel and Kidder, Derby. $174,423<br />
VHCB award <strong>to</strong> make energy efficiency<br />
and o<strong>the</strong>r improvements <strong>to</strong> two, adjacent,<br />
his<strong>to</strong>ric apartment buildings with<br />
14 existing apartments in <strong>the</strong> center<br />
of Derby Village. Lead paint hazard<br />
reduction; new solar hot water system.<br />
$318,557 HOME program award. Total<br />
development costs: $897,706<br />
Newport Family <strong>Housing</strong>. $135,847<br />
VHCB award for costs related <strong>to</strong> redeveloping<br />
21 new and existing units of multifamily<br />
rental housing on 3 contiguous<br />
properties in <strong>the</strong> designated down<strong>to</strong>wn<br />
area <strong>to</strong> create a more efficient and attractive<br />
site plan. $279,539 HOME Program<br />
award. $87,500 federal NSP funds. Total<br />
development costs: $6,100,000<br />
Organizational Development Grant.<br />
$31,800 award for organizational development<br />
costs. $20,373 federal CHDO award.<br />
Total organizational budget: $2,502,665<br />
River Bend Senior <strong>Housing</strong>, Enosburg.<br />
$402,165 VHCB award and $395,000<br />
federal HOME funds for purchase and<br />
renovation of 30 apartments with rental<br />
assistance for elderly residents. The<br />
work includes installation of a solar hot<br />
water system. Total development costs:<br />
$3,679,915<br />
<strong>Housing</strong> Trust of Rutland County<br />
Green Village Apartments, Brandon.<br />
$250,000 VHCB award for development<br />
of 27 apartments. $550,000 HOME<br />
Program award. Total development costs:<br />
$4,993,500<br />
Organizational Development Grant.<br />
$33,300 award for organizational development<br />
costs. $20,373 federal CHDO award.<br />
Total organizational budget: $700,168<br />
<strong>Housing</strong> <strong>Vermont</strong> and Springfield<br />
<strong>Housing</strong> Authority<br />
Ellis Block, Springfield. $411,000 from 2<br />
federal NSP awards for development of 9<br />
affordable, down<strong>to</strong>wn apartments above a<br />
movie <strong>the</strong>ater that was damaged in a fire.<br />
Total development costs: $3,446,497<br />
John Graham Shelter<br />
Mountain Street Transitional <strong>Housing</strong>,<br />
Bris<strong>to</strong>l. $88,000 award for <strong>the</strong> purchase<br />
and redevelopment of a building <strong>to</strong><br />
provide 5 units of transitional housing for
<strong>Housing</strong> Awards July 2010–December <strong>2011</strong><br />
homeless households. Case management<br />
services are provided <strong>to</strong> assist residents <strong>to</strong><br />
develop and achieve individualized work<br />
plans. Total development cost: $296,000<br />
John Graham Shelter, Vergennes. $197,000<br />
VHCB award for rehabilitation of homeless<br />
shelter providing food, housing and<br />
case management services. Reconfiguration<br />
<strong>to</strong> create 3 new shared rooms on<br />
<strong>the</strong> 1 st floor (2 wheelchair accessible) for<br />
a <strong>to</strong>tal of 10 beds overall. New sprinkler<br />
system, boiler and water heater, upgrades<br />
<strong>to</strong> plumbing and electrical systems. New<br />
siding, roof and south porch, foundation<br />
repairs and energy improvements. Total<br />
development costs: $599,000<br />
Lamoille <strong>Housing</strong> Partnership<br />
Morrisville Scattered Site, Morris<strong>to</strong>wn.<br />
$148,500 VHCB award for rehabilitation<br />
of 16 apartments in <strong>the</strong> village. $142,000<br />
HUD Special Purpose Grant. $49,513<br />
ARRA State Energy Program funds. Total<br />
development costs: $3,078,784<br />
Organizational Development Grant.<br />
$33,300 award for organizational development<br />
costs. $20,373 federal CHDO award.<br />
Total organizational budget: $283,142.<br />
Peacham Community <strong>Housing</strong><br />
and <strong>Housing</strong> <strong>Vermont</strong><br />
Peacham Academy <strong>Housing</strong>, Peacham.<br />
$150,000 VHCB award <strong>to</strong> rehabilitate 6<br />
rental units located in a former school<br />
building in <strong>the</strong> village. New high efficiency<br />
boiler, refinance and energy<br />
efficiency. Roof replacement, major maintenance<br />
of <strong>the</strong> septic system, new kitchen<br />
and bath fixtures and appliances. Total<br />
development cost: $319,106<br />
Regional Affordable <strong>Housing</strong> Corp.<br />
Roaring Branch and North Branch<br />
Apartments, Benning<strong>to</strong>n. $311,536 VHCB<br />
award <strong>to</strong> develop 14 new units and rehabilitate<br />
and reconfigure 12 existing<br />
units owned by RAHC. Construction<br />
of 7 energy efficient duplexes on North<br />
Branch Street. Existing units <strong>to</strong> be<br />
wea<strong>the</strong>rized and insulated, with new interior<br />
finishes. $438,464 HOME Program<br />
award. $200,000 HUD EDI award. Total<br />
development costs: $6,473,000 Organizational<br />
Development Grant. $33,300 award<br />
for organizational development costs.<br />
$20,373 federal CHDO award. Total organizational<br />
budget: $336,440<br />
Richford Renaissance<br />
and <strong>Housing</strong> <strong>Vermont</strong><br />
Missisquoi Manor, Richford Village. An<br />
award of $195,000 federal HOME funds<br />
and $34,250 ARRA State Energy Program<br />
funding for acquisition, rehabilitation<br />
and energy retrofit of 24 apartments for<br />
elderly residents with rental assistance<br />
located a few blocks from Richford’s main<br />
street and down<strong>to</strong>wn. Solar hot water.<br />
Total development cost: $1,715,737<br />
Rockingham Area<br />
Community Land Trust<br />
Organizational Development Grant.<br />
$31,800 award for organizational development<br />
costs. $20,373 federal CHDO award.<br />
Total organizational budget: $785,000<br />
Ellis Block, Springfield<br />
Following a fire in 2008, <strong>the</strong><br />
Springfield <strong>Housing</strong> Authority<br />
and <strong>Housing</strong> <strong>Vermont</strong> res<strong>to</strong>red<br />
<strong>the</strong> Ellis Block in Springfield.<br />
Located in <strong>the</strong> heart of <strong>the</strong><br />
down<strong>to</strong>wn area, <strong>the</strong> building<br />
has been redeveloped with nine<br />
one-bedroom apartments on <strong>the</strong><br />
upper s<strong>to</strong>ries. VHCB provided<br />
federal Neighborhood Stabilization<br />
Program funds for <strong>the</strong><br />
redevelopment. The Springfield<br />
<strong>Housing</strong> Authority is providing<br />
project based rental assistance<br />
for four apartments. During<br />
rehabilitation of <strong>the</strong> exterior,<br />
<strong>the</strong> Art Deco-style relief was<br />
discovered under a brick wall and<br />
res<strong>to</strong>red.<br />
<strong>Housing</strong> <strong>Vermont</strong> pho<strong>to</strong><br />
5
<strong>Housing</strong> Awards July 2010– December <strong>2011</strong><br />
Twin Pines <strong>Housing</strong> Trust and<br />
<strong>Housing</strong> <strong>Vermont</strong><br />
Grays<strong>to</strong>ne Village Energy Retrofit, Hartford.<br />
$162,500 award for energy conservation<br />
measures for 34 apartments. $150,000<br />
HOME Program award.<br />
<strong>Vermont</strong> Community Loan Fund<br />
Organizational Development Grant.<br />
$18,479 VHCB award for organizational<br />
development costs. Total organizational<br />
budget: $1,339,000<br />
6<br />
Hickory Street, Rutland<br />
Completed last fall, <strong>the</strong> first phase<br />
of this ambitious, $8.4 million<br />
redevelopment of Forest Park, a<br />
deteriorated 75-unit public housing<br />
complex, resulted in 33 new, mixedincome<br />
rental units. The complete<br />
redesign of <strong>the</strong> development<br />
entails demolition and rebuilding<br />
of <strong>the</strong> entire complex. Extensive<br />
site work includes new streets,<br />
water, sewer, s<strong>to</strong>rmwater, utilities,<br />
landscaping, lighting, parking,<br />
sidewalks and greenspace. Once<br />
complete, <strong>the</strong> new neighborhood<br />
will comprise 78 new rental apartments,<br />
9 homeownership units,<br />
and a new community center, all<br />
designed <strong>to</strong> integrate <strong>the</strong> property<br />
in<strong>to</strong> <strong>the</strong> surrounding neighborhood.<br />
The project will make a critical<br />
difference in <strong>the</strong> particular Rutland<br />
neighborhood in which it is located<br />
and in <strong>the</strong> lives of <strong>the</strong> low-income<br />
households who reside <strong>the</strong>re.<br />
pho<strong>to</strong>: Duncan Wisniewski Architecture<br />
Rockingham Area Community Land Trust<br />
and <strong>Housing</strong> <strong>Vermont</strong><br />
Black River Overlook, Ludlow, <strong>Vermont</strong>.<br />
$434,000 VHCB award <strong>to</strong> refinance and<br />
recapitalize a 25-unit apartment complex.<br />
New wood pellet heating system, solar<br />
collec<strong>to</strong>rs, insulation, kitchen and bathroom<br />
improvements, additional wheelchair<br />
accessibility, roofing, site drainage,<br />
improvements <strong>to</strong> walkways, roadways,<br />
and <strong>to</strong> <strong>the</strong> water system. Total redevelopment<br />
costs: $4,902,509<br />
Rutland <strong>Housing</strong> Authority and<br />
<strong>Housing</strong> <strong>Vermont</strong><br />
Hickory Street, Phase I, Rutland. An<br />
award of $500,000 federal HOME funds<br />
for construction of 33 rental units. The<br />
multi-phased project will redevelop<br />
Forest Park, a deteriorated public housing<br />
complex. $525,000 HUD EDI award. Total<br />
development cost: $8,488,556<br />
Hickory Street Phase II, Rutland City.<br />
$1,114,000 federal NSP Program funds<br />
for redevelopment of 20 apartments in a<br />
multi-family development.<br />
Twin Pines <strong>Housing</strong> Trust<br />
Anna Pluhar, Hartford. $30,000 VHCB<br />
award for energy efficiency upgrade.<br />
Organizational Development Grant. $33,300<br />
VHCB award for organizational development<br />
costs. $20,373 federal CHDO award.<br />
Total organizational budget: $1,724,865<br />
Washing<strong>to</strong>n County<br />
Mental Health Services<br />
Sierra House, Barre. $90,000 VHCB<br />
award for <strong>the</strong> purchase and rehabilitation<br />
of 4 units of service-enriched transitional<br />
housing for formerly homeless pregnant<br />
and post-partum women in recovery<br />
and <strong>the</strong>ir children. The program seeks <strong>to</strong><br />
increase long-term emotional health for<br />
mo<strong>the</strong>r and child and <strong>to</strong> enhance selfsufficiency<br />
and parenting skills. Total<br />
development cost: $226,500<br />
Windham & Windsor <strong>Housing</strong> Trust<br />
Brattleboro Family <strong>Housing</strong>, Brattleboro.<br />
$196,000 VHCB award <strong>to</strong> make energy<br />
and capital improvements in 4 buildings<br />
with 28 apartments at 11 & 15 Spring<br />
Street, 135/137 Elliot Street, and 16-38<br />
Valgar Street. Rehabilitation will include<br />
new boilers and windows, solar hot water,<br />
new kitchens and baths, exterior painting<br />
and site work, and sprinkler systems at<br />
<strong>the</strong> Elliot and Spring Streets properties.<br />
$574,000 HOME program funds. $138,796<br />
ARRA State Energy Program funds. Total<br />
projects cost: $4,617,244<br />
Algiers Village, Phase II, Guilford.<br />
$425,000 VHCB award for acquisition,<br />
construction, and related expenses <strong>to</strong><br />
develop 17 apartments in two buildings<br />
on Guilford Center Road. $265,000<br />
HOME Program award. Total development<br />
costs: $4,369,030<br />
WHT/RACLT project specific capacity<br />
funding. $50,000 VHCB award <strong>to</strong> assist
<strong>Housing</strong> Awards July 2010–December <strong>2011</strong><br />
with costs associated with merger of <strong>the</strong><br />
Rockingham Area Community Land<br />
Trust with <strong>the</strong> Windham <strong>Housing</strong> Trust.<br />
$40,000 HUD EDI Technical Assistance<br />
Grant.<br />
Organizational Development Grant.<br />
$33,300 VHCB award for organizational<br />
development costs. $20,373 federal CHDO<br />
award. Total organizational budget:<br />
$1,062,437<br />
STATEWIDE PROGRAMS<br />
Energy Efficiency Fund<br />
$100,000 VHCB funding for energy efficiency<br />
upgrades <strong>to</strong> affordable housing<br />
developments.<br />
Feasibility Fund<br />
$150,000 recapitalization of <strong>the</strong> VHCB<br />
feasibility fund, which provides awards<br />
of up <strong>to</strong> $15,000 for predevelopment costs<br />
including surveys, options, appraisals,<br />
market and engineering studies, architect’s<br />
fees, etc.<br />
Habitat for Humanity and<br />
Vocational Education Programs<br />
$210,000 two-year recapitalization of<br />
program <strong>to</strong> provide grants for 14 homes<br />
built by Habitat for Humanity chapters or<br />
vocational educational programs.<br />
Homeland Program<br />
$385,000 recapitalization of program<br />
providing purchase subsidies and rehabilitation<br />
loans <strong>to</strong> low- and moderateincome<br />
<strong>Vermont</strong> households purchasing<br />
homes through community-based<br />
housing organizations and Neighbor-<br />
Works® HomeOwnership Centers. Will<br />
provide approximately 11 purchase subsidies<br />
and 2 rehab loans.<br />
Organizational Development Grants<br />
$508,928 for FY12 organizational development<br />
grants <strong>to</strong> 12 housing organizations<br />
operating around <strong>the</strong> state. $167,819 in<br />
HUD funds for organizational development<br />
grants <strong>to</strong> 10 Community <strong>Housing</strong><br />
Development Organizations.<br />
Site-Based Homeownership Fund<br />
$75,000 recapitalization of fund <strong>to</strong><br />
provide supplementary downpayment<br />
grants for homeownership units.<br />
Technical Assistance Fund<br />
$40,000 recapitalization of <strong>the</strong> VHCB<br />
Technical Assistance fund <strong>to</strong> assist<br />
housing development and conservation<br />
organizations with organizational<br />
sustainability, long-term property<br />
management, asset management and<br />
stewardship of long-term restrictions on<br />
properties.<br />
Transitional <strong>Housing</strong> Fund<br />
$800,000 recapitalization of fund for<br />
<strong>the</strong> development of transitional housing<br />
statewide.<br />
<strong>Vermont</strong> Center for Independent Living<br />
Home Access Program. $760,000 VHCB<br />
award for program and operating costs<br />
over two years for <strong>the</strong> Home Access<br />
Program, which provides grants statewide<br />
for accessibility modifications <strong>to</strong><br />
homes occupied by low-income people<br />
with physical disabilities.<br />
VHCB Land Bank Fund<br />
$500,000 HUD EDI grant <strong>to</strong> capitalize<br />
land bank fund.<br />
Windham & Windsor <strong>Housing</strong> Trust pho<strong>to</strong><br />
Upper S<strong>to</strong>ry <strong>Housing</strong>,<br />
Brattleboro<br />
The Windham and Windsor <strong>Housing</strong><br />
Trust and <strong>Housing</strong> <strong>Vermont</strong> are<br />
working with <strong>the</strong> Brattleboro Co-op<br />
<strong>to</strong> develop 24 apartments on <strong>the</strong><br />
3 rd and 4 th floors of a new commercial<br />
building being constructed by<br />
<strong>the</strong> Co-op. Heat and hot water for<br />
<strong>the</strong> apartments will be supplied<br />
by recaptured waste heat from<br />
<strong>the</strong> Co-opís refrigeration system.<br />
The new building will replicate <strong>the</strong><br />
his<strong>to</strong>ric streetscape. The apartments<br />
are expected <strong>to</strong> be complete<br />
in Spring 2012. VHCB committed<br />
$475,000 in state funds and<br />
$200,000 in federal HOME funds<br />
<strong>to</strong>wards <strong>the</strong> housing in <strong>the</strong> $4.9<br />
million development.<br />
7
Conservation Awards July 2010– December <strong>2011</strong><br />
pho<strong>to</strong>: Sarah Wakefield/<strong>the</strong> Nature Conservancy<br />
8<br />
Black Mountain,<br />
Dummers<strong>to</strong>n<br />
For 20 years The Nature Conservancy<br />
has acquired land here, creating a<br />
600-acre reserve with numerous rare<br />
and unusal species. Black Mountainís<br />
high plant diversity is due in part <strong>to</strong><br />
<strong>the</strong> horseshoe shape of <strong>the</strong> mountain<br />
which creates a water collecting bowl<br />
that produces ideal conditions for<br />
moist forests, streams, and wetlands.<br />
Pitch pine and scrub oak trees found<br />
in <strong>the</strong> drier area near <strong>the</strong> summit are<br />
normally associated with <strong>the</strong> sandy<br />
areas of <strong>the</strong> New England coast and<br />
are at <strong>the</strong> nor<strong>the</strong>rn end of <strong>the</strong>ir range<br />
here. A 100-acre red pine community<br />
on <strong>the</strong> mountain is clearly visible from<br />
<strong>the</strong> village of West Dummers<strong>to</strong>n. In<br />
June, a large population of mountain<br />
laurel produces a magnificent display<br />
of showy pink flowers. A 1.5 mile trail<br />
leads from <strong>the</strong> Rice Farm Road <strong>to</strong> <strong>the</strong><br />
1,280-foot summit.<br />
Catamount Trail Association<br />
Hodgeman Parcel, Lowell. $20,150 VHCB<br />
award for acquisition of a trail easement<br />
along 4,400 feet of <strong>the</strong> Catamount Trail,<br />
cross country ski trail running <strong>the</strong> length<br />
of <strong>Vermont</strong>. Total project costs: $24,150<br />
Organizational Development Grant.<br />
$8,250 award for organizational development<br />
costs. Total organizational budget:<br />
$253,000<br />
Cross <strong>Vermont</strong> Trail Association<br />
Organizational Development Grant.<br />
$13,500 award for organizational development<br />
costs. Total organizational budget:<br />
$184,367<br />
Duxbury Land Trust<br />
Cook Property, Duxbury. $20,000 VHCB<br />
award <strong>to</strong> acquire 14 acres for addition<br />
<strong>to</strong> o<strong>the</strong>r conserved land along Ridley<br />
Brook. Total project cost: $46,000<br />
The Green Mountain Club<br />
Organizational Development Grant.<br />
$21,000 award for organizational development<br />
costs. Total organizational budget:<br />
$1,503,274<br />
Isle La Motte Reef Preservation Trust<br />
Goodsell Ridge Enhancement Project, Isle<br />
La Motte. $28,000 VHCB award for addition<br />
of one acre <strong>to</strong> existing fossil preserve<br />
conserving <strong>the</strong> world’s oldest reef. Total<br />
project costs: $45,000<br />
Lake Champlain Land Trust<br />
Organizational Development Grant.<br />
$21,000 award for organizational development<br />
costs. Total organizational budget:<br />
$725,000<br />
Middlebury Area Land Trust<br />
Organizational Development Grant.<br />
$8,250 award for organizational development<br />
costs. Total organizational budget:<br />
$482,120<br />
Preservation Trust of <strong>Vermont</strong><br />
Brigh<strong>to</strong>n Town Hall Renovation. $7,500<br />
award for documentation and stewardship<br />
of his<strong>to</strong>ric preservation easement.<br />
Moravian Cabin Stewardship, S<strong>to</strong>we<br />
$7,500 VHCB award for documentation<br />
and stewardship of his<strong>to</strong>ric preservation<br />
easement.<br />
STATEWIDE<br />
Feasibility Fund. $150,000 recapitalization<br />
of <strong>the</strong> fund <strong>to</strong> provide awards of<br />
up <strong>to</strong> $8,000 for predevelopment costs<br />
including surveys, options and appraisals<br />
Organizational Development Grants<br />
$251,072 for FY2012 organizational development<br />
grants <strong>to</strong> 10 conservation organizations<br />
operating around <strong>the</strong> state.<br />
VHCB Farm Viability Program<br />
$380,000 for service providers offering<br />
business planning and technical assistance<br />
<strong>to</strong> farmers.
Conservation Awards July 2010– December <strong>2011</strong><br />
S<strong>to</strong>we Land Trust<br />
Cady Hill, S<strong>to</strong>we. $350,000 VHCB award<br />
<strong>to</strong> acquire, conserve and convey 257<br />
acres <strong>to</strong> <strong>the</strong> <strong>to</strong>wn. Nine miles of mountain<br />
bike and walking trails add <strong>to</strong> a trail<br />
network being developed by <strong>the</strong> <strong>Vermont</strong><br />
Ride Center, providing economic stimulus<br />
through <strong>to</strong>urism. $250,000 Town<br />
of S<strong>to</strong>we; $1 million private fundraising<br />
campaign. Total project costs: $1,525,500<br />
Mill Trail Moravian Cabin Res<strong>to</strong>ration,<br />
S<strong>to</strong>we. $60,000 VHCB award for stabilization<br />
and res<strong>to</strong>ration of his<strong>to</strong>ric cabin<br />
with significance <strong>to</strong> <strong>Vermont</strong>’s ski his<strong>to</strong>ry.<br />
Total project costs: $123,500<br />
The Nature Conservancy<br />
Black Mountain, Dummers<strong>to</strong>n. $75,000<br />
VHCB award <strong>to</strong> purchase and conserve<br />
25 acres on Black Mountain, adding<br />
<strong>to</strong> 583-acre nature preserve. Rare and<br />
unique natural communities. Public<br />
trail for hunting, walking, hiking, and<br />
snowshoeing. Frontage on Black Mountain<br />
Road will allow for development of a<br />
parking area and <strong>the</strong> addition of a kiosk.<br />
Total project costs: $88,500<br />
Green River Reservoir Addition, Hyde<br />
Park. $6,000 award for stewardship of<br />
179 acres added <strong>to</strong> Green River Reservoir<br />
State Park.<br />
Guildhall Swamp Addition, Guildhall.<br />
$50,000 VHCB award for acquisition of 51<br />
acres for addition <strong>to</strong> previously conserved<br />
land. Total project costs: $74,300<br />
Morelli Property, Pawlet. $230,700 VHCB<br />
award <strong>to</strong> purchase conservation easement<br />
on 181 acres for addition <strong>to</strong> North Pawlet<br />
Hills Preserve, an ecological area of statewide<br />
significance. Total project costs:<br />
$299,200<br />
Red Rock Bay, Benson. $65,400 VHCB<br />
award <strong>to</strong> purchase a conservation easement<br />
on 275 acres of wooded land,<br />
including 1,200 feet of shoreline on a<br />
narrow, shallow inlet of Lake Champlain.<br />
Rare and unique natural communities<br />
and wildlife habitat. $191,500 federal<br />
Landowner Incentive Program funding.<br />
Total project costs: $260,474<br />
Sheldon Property, Fair Haven. $77,000<br />
VHCB award for acquisition of 99 acres<br />
for addition <strong>to</strong> The Nature Conservancy’s<br />
729-acre Bomoseen Preserve. Statesignificant<br />
natural communities and rare<br />
plants, wildlife habitat protection, public<br />
access for hunting and non-mo<strong>to</strong>rized<br />
recreation. Total project costs: $92,000<br />
Windsor County Fen Watershed, Phase<br />
2, Barnard. $34,000 VHCB award <strong>to</strong><br />
purchase conservation easement on 30<br />
acres for addition <strong>to</strong> project protecting<br />
watershed of a fen of statewide significance.<br />
Total project costs: $123,500<br />
Organizational Development Grant.<br />
$21,000 award for organizational development<br />
costs. Total organizational budget:<br />
$1,816,096<br />
Town of Brigh<strong>to</strong>n<br />
Brigh<strong>to</strong>n Town Hall Renovation. $50,000<br />
VHCB award for exterior res<strong>to</strong>ration of<br />
120-year old his<strong>to</strong>ric municipal building<br />
with multiple community uses located in<br />
<strong>the</strong> heart of down<strong>to</strong>wn Island Pond. Total<br />
project costs: $336,142<br />
Barre Town Forest, Barre<br />
<strong>to</strong>wn.<br />
A VHCB grant <strong>to</strong> <strong>the</strong> Trust for Public<br />
Land will help <strong>the</strong> Town of Barre<br />
acquire 343 acres of former quarry<br />
lands with a 70-mile trail network<br />
used for walking, biking, and crosscountry<br />
skiing. Project completion<br />
is pending receipt of a federal grant.<br />
Conservation would protect wildlife<br />
habitat as well as <strong>the</strong> source water<br />
for two municipal water districts.<br />
Sustainable forest management<br />
would bring revenue <strong>to</strong> <strong>the</strong> <strong>to</strong>wn.<br />
pho<strong>to</strong>: Mills<strong>to</strong>ne Trails Association<br />
9
Conservation Awards July 2010– December <strong>2011</strong><br />
Upper Valley Land Trust<br />
Allen Farm, Newbury and Ryegate.<br />
$15,750 VHCB grant <strong>to</strong> purchase conservation<br />
easement on a 62-acre organic<br />
dairy farm. Highly visible and scenic<br />
property along I-91 will be sold by<br />
retiring dairy farmers Alice and Larry<br />
Allen <strong>to</strong> Walter Morse and Joseph Mahr,<br />
organic dairy farmers from Barre. $35,000<br />
federal NRCS funds; $48,250 Connecticut<br />
River Mitigation and Enhancement<br />
Funds. Total project costs: $99,000<br />
10<br />
Carol Dunsmore Farm, St. Albans<br />
The <strong>Vermont</strong> Agency of Agriculture, Food and Markets conserved 234 acres of<br />
farmland with floodplain frontage on Jewett Brook. The farmland is surrounded<br />
by conserved farms <strong>to</strong> <strong>the</strong> south, east and west; 20 acres of wetlands and <strong>the</strong><br />
riparian area along Jewett Brook have been fenced off and planted <strong>to</strong> tree seedlings<br />
as part of <strong>the</strong> landownerís enrollment in <strong>the</strong> USDA CREP Program. AAFM<br />
pho<strong>to</strong>.<br />
Town of Bakersfield<br />
Bakersfield Town Park. $33,667 VHCB<br />
award for acquisition of 4 acres <strong>to</strong> create<br />
a <strong>to</strong>wn park in <strong>the</strong> center of <strong>the</strong> village.<br />
Public trails, including wheelchair accessible<br />
segments, will be developed and an<br />
1890s his<strong>to</strong>ric barn will be res<strong>to</strong>red and<br />
renovated <strong>to</strong> provide public meeting space<br />
and amenities. Total acquisition project<br />
costs: $50,500<br />
Town of Wells and <strong>Vermont</strong> Land Trust<br />
Delaney Project, Wells. $91,000 VHCB<br />
award <strong>to</strong> purchase and conserve 192 acres<br />
forest and lakeshore land for <strong>the</strong> Town of<br />
Wells. 17-acre lakeshore parcel includes<br />
2,000 feet frontage on Lake St. Ca<strong>the</strong>rine;<br />
Total project costs: $463,000<br />
Trust for Public Land<br />
Barre Town Forest, Barre Town. $308,000<br />
VHCB award <strong>to</strong>wards acquisition and<br />
conservation of 343 acres of former<br />
quarry lands with extensive trail system.<br />
Wildlife habitat protection, potential for<br />
timber management, and protection of<br />
source water for two municipal water<br />
districts. Total project costs: $1,263,500<br />
The Trust for Public Land and <strong>the</strong><br />
<strong>Vermont</strong> Department of Forests, Parks<br />
and Recreation<br />
Green River Reservoir Addition, Hyde<br />
Park. $358,000 VHCB award for acquisition<br />
of 179 acres in two parcels for addition<br />
<strong>to</strong> Green River Reservoir State Park.<br />
Includes 110 feet of shoreline on <strong>the</strong> reservoir.<br />
Public access for hiking, camping,<br />
hunting, fishing, and non-mo<strong>to</strong>rized boat<br />
access. Total project costs: $517,000<br />
Alschuler Farm, Thetford. $85,000 VHCB<br />
award <strong>to</strong> purchase conservation easement<br />
on 60 acres <strong>to</strong> be sold <strong>to</strong> Vaughn<br />
Farms LLC for addition <strong>to</strong> <strong>the</strong>ir 425 acres<br />
of farmland. Local trail network passes<br />
through <strong>the</strong> property. Conservation will<br />
provide a buffer for <strong>the</strong> Conant Swamp, a<br />
wetland in <strong>the</strong> watershed of <strong>the</strong> Connecticut<br />
River. $147,500 in NRCS funding.<br />
Total project costs: $235,000<br />
Burgess Farmland, Bradford. $154,000<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 110 acres of agricultural<br />
land. $131,500 federal NRCS funding.<br />
Total project costs: $285,500<br />
East Hill, South Woods<strong>to</strong>ck. $75,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and public trail easement on 71<br />
acres in <strong>the</strong> village. Farm and forestland<br />
conservation, riparian resources. Total<br />
project costs: $494,500<br />
Thomas Land (Wright’s Mountain), Bradford.<br />
$89,000 VHCB award <strong>to</strong> purchase,<br />
conserve, and transfer <strong>to</strong> <strong>the</strong> <strong>to</strong>wn 64<br />
acres for addition <strong>to</strong> adjacent 443 acres<br />
<strong>to</strong>wn-owned land. Riparian buffers,<br />
vernal pools, access for recreation and<br />
hunting and a managed timber resource.<br />
Total project costs: $134,000<br />
Organizational Development Grant.<br />
$26,250 award for organizational development<br />
costs. Total organizational budget:<br />
$660,139
Conservation Awards July 2010– December <strong>2011</strong><br />
<strong>Vermont</strong> Agency of Agriculture,<br />
Food & Markets<br />
Daniel & Eugene Branon Farm, Fairfield.<br />
$221,000 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 288<br />
acres agricultural land. $220,000 federal<br />
NRCS funds. Total project costs: $441,000<br />
Dunsmore Farm, St Albans. $155,000<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at<br />
Agricultural Value on 234 acres agricultural<br />
land with frontage on Jewett Brook.<br />
$152,500 federal NRCS funds. Total<br />
project costs: $320,000<br />
David and Peggy Howrigan Farmland,<br />
Fairfield. $57,500 VHCB award <strong>to</strong><br />
purchase conservation easements on 102<br />
acres agricultural land with frontage on<br />
Hungerford Brook. $55,000 federal NRCS<br />
funds. Total project costs: $112,500<br />
Thomas & Mary Machia, St. Albans<br />
Town. $75,000 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 77<br />
acres agricultural land. Transfer of cropland<br />
<strong>to</strong> dairy farmers; 100% prime and<br />
statewide soils. $60,000 NRCS award.<br />
Total project costs: $135,000<br />
Act 250 Review. $93,246 award <strong>to</strong> provide<br />
support for staff and legal costs associated<br />
with <strong>the</strong> payment of mitigation funds by<br />
developers of agricultural land under Act<br />
250.<br />
Organizational Development Grant.<br />
$30,000 award for organizational development<br />
grant.<br />
<strong>Vermont</strong> Agency of Natural Resources<br />
Long Range Management Planning<br />
$55,000 VHCB award for costs associated<br />
with developing management plans for<br />
state-owned properties.<br />
East Hill, South Woods<strong>to</strong>ck<br />
An 11-acre prime farm field and 60 acres of woods and trails linking <strong>to</strong> a larger<br />
trail system, was conserved by <strong>the</strong> Upper Valley Land Trust and transferred <strong>to</strong><br />
farmers Tom Debevoise and Laurie Livings<strong>to</strong>n, who own an adjacent conserved<br />
farm. Trail easement and riparian buffer along <strong>the</strong> Kedron Brook. UVLT pho<strong>to</strong><br />
<strong>Vermont</strong> Land Trust<br />
Baldwin Farmland, Hinesburg. $157,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easements and an Option <strong>to</strong> Purchase<br />
at Agricultural Value on 73 acres agricultural<br />
land including VT Department<br />
of Environmental Conservation River<br />
Corridor Management Easement. Public<br />
access along river shore. $185,000 federal<br />
NRCS funds. Total project costs: $406,000<br />
Mat<strong>the</strong>w & Daniel Baldwin, Hinesburg.<br />
$82,222 VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase<br />
at Agricultural Value on 97 acres agricultural<br />
land, part of a hay operation.<br />
River corridor protection on Lewis Creek<br />
frontage with public access along river.<br />
$222,500 NRCS award. Total project costs:<br />
$465,500<br />
Amerigo & Jill Balzano, Wells. $125,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and an Option <strong>to</strong> Purchase at<br />
Agricultural Value on 103 acres agricultural<br />
land. Facilitates purchase by young<br />
farmers for diversified fruit and vegetable<br />
operation. $128,000 NRCS award. Total<br />
project costs: $278,500<br />
Barnes Farmland, Bridport. $107,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and an Option <strong>to</strong> Purchase at<br />
Agricultural Value on 154 acres agricultural<br />
land. Cropland is leased <strong>to</strong> neighboring<br />
Blue Spruce Farm. Project abuts<br />
11
Conservation Awards July 2010– December <strong>2011</strong><br />
Cleveland Farm II, Pawlet $237,500 NRCS<br />
award <strong>to</strong> purchase conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 261 acres agricultural land.<br />
Facilitates purchase by abutting dairy<br />
farmer. Total project costs: $501,500<br />
Colette Case, Swan<strong>to</strong>n. $195,000 VHCB<br />
award <strong>to</strong> purchase conservation easement<br />
on 224 acres agricultural land. Option<br />
<strong>to</strong> Purchase at Agricultural Value; 84%<br />
prime and statewide soils; near Lake<br />
Champlain. $172,500 NRCS award. Total<br />
project costs: $367,500<br />
12<br />
Boyden Farm, Cambridge<br />
The Boyden family farm dates <strong>to</strong> 1914. This year <strong>the</strong> family conserved 371<br />
acres with <strong>the</strong> <strong>Vermont</strong> Land Trust, facilitating transfer of <strong>the</strong> farm <strong>to</strong> <strong>the</strong> next<br />
generation. The Boydens raise natural beef, produce maple syrup, and run a<br />
s<strong>to</strong>re and winery as well as a banquet facility on <strong>the</strong> farm. The conservation<br />
easement provides for public access along three miles of <strong>the</strong> Lamoille River.<br />
<strong>Vermont</strong> Land Trust pho<strong>to</strong>.<br />
<strong>the</strong> Dead Creek Wildlife Management<br />
Area; easement will contain a Special<br />
Treatment Area for a 38-acre clayplain<br />
forest on <strong>the</strong> property. $85,000 NRCS<br />
funds. Total project costs: $192,500<br />
Burgess Farmland Stewardship, Bradford.<br />
$2,500 VHCB award for stewardship of<br />
property conserved by UVLT.<br />
Choiniere Farmland, Bris<strong>to</strong>l & New<br />
Haven. $188,200 VHCB award <strong>to</strong><br />
purchase conservation easement and<br />
Option <strong>to</strong> Purchase at Agricultural Value<br />
on 154 acres agricultural land. Adjacent <strong>to</strong><br />
664-acre Watershed Center, a conserved<br />
recreation, natural area, and education<br />
center and near o<strong>the</strong>r conserved farms.<br />
Project will assist with farm enterpirse<br />
expansion <strong>to</strong> add dairy goats on ano<strong>the</strong>r<br />
property. $181,500 federal NRCS funds.<br />
Total project costs: $369,700<br />
Claflin Farm, Ferrisburgh & Monk<strong>to</strong>n.<br />
$230,000 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 199<br />
acres agricultural land. 14,000 feet of<br />
road frontage with large fields of statewide<br />
and prime soils. Significant local<br />
funding and bargain sale. $302,500 NRCS<br />
funds. Total project costs: $632,500<br />
Clark Project Match, East Montpelier.<br />
$40,000 award <strong>to</strong> conserve almost 2<br />
miles of Winooski River frontage along<br />
Route 2. Enables safe connec<strong>to</strong>rs linking<br />
an existing <strong>to</strong>wn off-road network <strong>to</strong><br />
<strong>the</strong> adjacent five-<strong>to</strong>wn regional high<br />
school and <strong>the</strong> Cross <strong>Vermont</strong> Trail.<br />
Provides match for federal Transportation<br />
Enhancement funds from <strong>the</strong> <strong>Vermont</strong><br />
Agency of Transportation. Total Project<br />
Costs: $185,000<br />
Conant Farm, Willis<strong>to</strong>n. $11,250 VHCB<br />
award <strong>to</strong> purchase a conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 48 acres of agricultural<br />
land. Town of Willis<strong>to</strong>n will hold a separate<br />
trail easement. $167,500 NRCS funds.<br />
Total project costs: $357,500<br />
Jonathan & Mary Ann Connor, Addison.<br />
$71,660 VHCB award <strong>to</strong> purchase<br />
conservation easement and an Option<br />
<strong>to</strong> Purchase at Agricultural Value on 87<br />
acres agricultural land abutting <strong>the</strong> Dead<br />
Creek Wildlife Management Area. Cropland<br />
for dairy. $50,000 NRCS award. Total<br />
project costs: $121,660<br />
Devine Farmland, Ferrisburgh. $60,000<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 37 acres agricultural<br />
land, with transfer <strong>to</strong> farm buyer. Significant<br />
bargain sale. $82,500 NRCS funds.<br />
Total project costs: $187,500<br />
DeVries Farm, Addison. $192,500 VHCB<br />
award <strong>to</strong> purchase conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 430 acres agricultural land.<br />
Special ecological protection of 39 acres<br />
of clayplain forest. $170,000 NRCS funds.<br />
Total project costs: $362,500<br />
Farris/Bourque, Blue Heron Farm, Grand<br />
Isle. $52,299 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 30
Conservation Awards July 2010– December <strong>2011</strong><br />
acres agricultural land. Transfer of land<br />
<strong>to</strong> vegetable farmers. $15,201 ag mitigation<br />
funding. $65,000 NRCS award. Total<br />
project costs: $219,770<br />
Finch Farmland, Franklin. $92,333 VHCB<br />
award <strong>to</strong> purchase a conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 208-acre diversified<br />
lives<strong>to</strong>ck farm. $112,000 NRCS funds.<br />
Landowner bargain sale. Total project<br />
costs: $306,000<br />
Allan, Norman & Ca<strong>the</strong>rine Fisher, Salisbury.<br />
$70,500 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 105<br />
acres agricultural land. Landowner<br />
bargain sale. $60,000 NRCS award. Total<br />
project costs: $142,500<br />
Gilmore Farm, Tinmouth. $190,000<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 245 acres agricultural<br />
land. 692 acres of easements and land<br />
donated; public ridgeline trail included.<br />
$332,500 NRCS award. Total project costs:<br />
$1,877,150<br />
Goodrich Farm LLC, II, Salisbury.<br />
$117,500 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 172<br />
acres agricultural land for addition <strong>to</strong><br />
conserved acreage. $95,000 NRCS award.<br />
Total project costs: $212,500<br />
Harris/McNaughten Farm, Wolcott.<br />
$40,500 VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase<br />
at Agricultural Value on 93 acres agricultural<br />
land abutting <strong>the</strong> East Hill Wildlife<br />
Management Area. 70% prime and statewide<br />
agricultural soils. $57,000 NRCS<br />
award. Total project costs: $145,500<br />
Hassan/Amanna, A<strong>the</strong>ns. $122,803<br />
VHCB award <strong>to</strong> purchase a conservation<br />
easement and Option <strong>to</strong> Purchase<br />
at Agricultural Value on 172-acre farm,<br />
Wayne Stearns Farm, Ferrisburgh.<br />
When a 92-acre field rented by dairy farmer Wayne Stearns went on <strong>the</strong> market,<br />
27 neighbors formed an LLC <strong>to</strong> buy <strong>the</strong> property at an auction <strong>to</strong> save it from<br />
development. They conserved <strong>the</strong> land with <strong>the</strong> <strong>Vermont</strong> Land Trust, using VHCB<br />
and NRCS funding, and sold it <strong>to</strong> Stearns at an affordable price. VLT pho<strong>to</strong>.<br />
facilitating transfer <strong>to</strong> new owners. Diversified<br />
sheep and garlic operation. Easement<br />
includes trail corridor for potential<br />
link <strong>to</strong> WHPA corridor, and Dept. of<br />
Environmental Conservation riparian<br />
buffer protection. WHPA is building a<br />
new trail section along <strong>the</strong> boundary<br />
of <strong>the</strong> property, <strong>to</strong> link <strong>to</strong> <strong>the</strong> newly<br />
conserved A<strong>the</strong>ns Dome/Lake project.<br />
$181,000 NRCS funds. Total project costs:<br />
$433,803<br />
Hulett II, Pawlet. $147,500 NRCS award<br />
<strong>to</strong> purchase conservation easement and<br />
Option <strong>to</strong> Purchase at Agricultural Value<br />
on 119 acres agricultural land. Riparian<br />
buffers and public access along Met<strong>to</strong>wee<br />
and Wells Rivers. Acquired by farmers as<br />
addition <strong>to</strong> home farm conserved acreage.<br />
Total project costs: $320,000<br />
Johnson Farm, Canaan and Leming<strong>to</strong>n.<br />
$198,750 NRCS award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase<br />
at Agricultural Value on 583 acres agricultural<br />
land with prime soils. Riparian<br />
buffers and public access along Connecticut<br />
River. Transfer <strong>to</strong> next generation<br />
farm buyer. Total project costs: $500,330<br />
Law<strong>to</strong>n II, Bridport. $202,500 VHCB<br />
award <strong>to</strong> purchase conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 410 acres agricultural<br />
land. This large expanse of scenic land<br />
abuts <strong>the</strong> family's previously conserved<br />
400-acre farm and supplies forage <strong>to</strong><br />
area farmers. Project proceeds will help<br />
owners purchase additional, adjacent<br />
tillage. $190,000 NRCS funds and landowner<br />
bargain sale. Total project costs:<br />
$437,500.<br />
13
Conservation Awards July 2010– December <strong>2011</strong><br />
operation. $165,000 NRCS award. Total<br />
project costs: $351,250<br />
Mach, Pawlet. $190,000 federal NRCS<br />
funding <strong>to</strong> purchase conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 139 acres agricultural land.<br />
Includes over 4,000 ft. of Met<strong>to</strong>wee River<br />
frontage. Total project costs: $403,000<br />
14<br />
Whiteside, Middlesex<br />
The <strong>Vermont</strong> River Conservancy acquired 70 acres of land along <strong>the</strong> North<br />
Branch of <strong>the</strong> Winooski River and conserved an additional 18 acres, protecting<br />
wildlife habitat and over two miles of undeveloped river frontage. A river<br />
corridor management easement will allow <strong>the</strong> North Branch <strong>to</strong> move within its<br />
floodplain during high water, absorbing <strong>the</strong> force of <strong>the</strong> water and preventing<br />
costly erosion. Public access <strong>to</strong> <strong>the</strong> river. VRC pho<strong>to</strong><br />
Leach II, Pawlet. $75,000 VHCB award<br />
<strong>to</strong> purchase conservation easement and<br />
Option <strong>to</strong> Purchase at Agricultural Value<br />
on 140 acres agricultural land. Proceeds<br />
enabled farmers <strong>to</strong> acquire Leach III<br />
property. $142,500 NRCS award. Total<br />
project costs: $292,500<br />
Leach III, Pawlet. $82,500 VHCB award<br />
<strong>to</strong> purchase conservation easement and<br />
Option <strong>to</strong> Purchase at Agricultural Value<br />
on 297 acres agricultural land. Acquired<br />
by farmers as addition <strong>to</strong> home farm<br />
conserved acreage. $142,500 NRCS award.<br />
Total project costs: $307,500<br />
Lefoll Farm, Maids<strong>to</strong>ne. $74,500 NRCS<br />
award <strong>to</strong> purchase conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 175 acres agricultural land.<br />
Riparian buffers and public access along<br />
Connecticut River. Total project costs:<br />
$162,996<br />
Limoge, Georgia. $97,500 VHCB award<br />
<strong>to</strong> purchase conservation easement and<br />
Option <strong>to</strong> Purchase at Agricultural Value<br />
on 100 acres. Transfer <strong>to</strong> farm buyer.<br />
Land is 98 percent prime and statewide<br />
soils. Project supported by funds from<br />
Town of Georgia and by a bargain sale.<br />
$165,000 federal NRCS funding. Total<br />
project costs: $352,500<br />
Geordie & Emery Lynd, Walden. $146,250<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 228-acre organic dairy<br />
Nordic Holsteins Farmland, Charlotte.<br />
$33,000 VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase<br />
at Agricultural Value on 236 acres agricultural<br />
land. The land is 94% prime and<br />
statewide soils and helps meet <strong>the</strong> forage<br />
needs of an expanding 700-head dairy<br />
operation. The project contains o<strong>the</strong>r<br />
resource values and is very highly leveraged.<br />
$294,500 federal NRCS funds. Total<br />
project costs: $611,500<br />
Greg & Debra O’Bryan, Addison.<br />
$170,000 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option<br />
<strong>to</strong> Purchase at Agricultural Value on<br />
309 acres agricultural land, facilitating<br />
transfer <strong>to</strong> large goat operation. Protection<br />
of 24 acres clay plain forest. $147,500<br />
NRCS award. Total project costs: $317,500<br />
Ronald & Lynn Paradis, Franklin.<br />
$185,000 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 302<br />
acres agricultural land. 170-cow dairy<br />
operation. $162,500 NRCS award. Total<br />
project costs: $347,500<br />
Stephen & Carolyn Perley, Enosburgh.<br />
$202,500 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 378<br />
acres agricultural land. Grass hay and<br />
sugarbush. $186,000 NRCS award. Total<br />
project costs: $388,500<br />
K. Quesnel Farmland, Shoreham. $97,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 160 acres agricultural
Conservation Awards July 2010– December <strong>2011</strong><br />
land. This farm project also contains<br />
natural and recreational values, with two<br />
designated Special Treatment Areas, and<br />
its location adjacent <strong>to</strong> a state wildlife<br />
management area and an abandoned rail<br />
corridor. $75,000 federal NRCS funds.<br />
Total project costs: $172,500<br />
AThens dome pho<strong>to</strong><br />
Roberts Farm, Wea<strong>the</strong>rsfield. $130,613<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 59 acres agricultural<br />
land. Riparian buffer and public access<br />
along Connecticut River. Transition <strong>to</strong><br />
vegetable operation with new owner.<br />
$19,637 ag mitigation funding. $159,000<br />
NRCS award. Total project costs: $410,178<br />
Gavin & Cynthia Ryan, Fairfield. $132,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 170 acres agricultural<br />
land. Transfer of land <strong>to</strong> organic dairy.<br />
$110,000 NRCS award. Total project costs:<br />
$242,500<br />
J. Ryan Farm, Wolcott. $15,000 VHCB<br />
award <strong>to</strong> purchase conservation easement<br />
and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 108 acres agricultural land.<br />
Farmland abuts Bear Swamp Natural<br />
Area. Landowner bargain sale. $50,000<br />
NRCS award. Total project costs: $129,000<br />
H&D Smith Farmland, New Haven.<br />
$177,100 VHCB award <strong>to</strong> purchase a<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 265<br />
acres agricultural land with over 13,000<br />
ft. of frontage on Little Otter Creek. Easement<br />
includes special ecological protection<br />
for 28-acre clayplain forest. $154,500<br />
NRCS funds. Total project costs: $331,600<br />
Nate & Brenda Smith Farmland, Pawlet.<br />
$84,000 NRCS funds <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase<br />
at Agricultural Value on 52-acre parcel<br />
of 100% prime and statewide riverbot<strong>to</strong>m<br />
agricultural land. Includes 2,700 ft. of<br />
frontage on <strong>the</strong> Met<strong>to</strong>wee River. $106,500<br />
A<strong>the</strong>ns Dome, Graf<strong>to</strong>n<br />
The Windmill Hill Pinnacle Association added 195 acres <strong>to</strong> a nearly 2,000-acre<br />
nature reserve created over <strong>the</strong> last 20 years. A 14-mile trail system follows a<br />
ridgeline through <strong>the</strong> <strong>to</strong>wns of Rockingham, A<strong>the</strong>ns, Brookline, and Westminster.<br />
The new property links <strong>to</strong> a trail system in Graf<strong>to</strong>n. WHPA pho<strong>to</strong>.<br />
15
Conservation Awards July 2010– December <strong>2011</strong><br />
John Merck foundation funds. Total<br />
project costs: $190,500<br />
Wayne Stearns (Kimball Farm, LLC),<br />
Ferrisburgh. $107,500 VHCB award <strong>to</strong><br />
purchase conservation easement on 92<br />
acres agricultural land near Lake Champlain<br />
facilitating affordable transfer <strong>to</strong><br />
dairy farmer. Landowner bargain sale.<br />
$255,000 NRCS award. Total project costs:<br />
$545,500<br />
Sunset Lake Farm II LLC, Alburg.<br />
$111,500 VHCB award <strong>to</strong> purchase<br />
conservation easement and Option <strong>to</strong><br />
Purchase at Agricultural Value on 127<br />
acres agricultural land. Tillage for an<br />
operating dairy; 90% prime and statewide<br />
soils; near Lake Champlain. $89,000<br />
NRCS award. Total project costs: $200,500<br />
Thibault Farm, Colchester. $230,000<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at Agricultural<br />
Value on 199-acre dairy farm.<br />
Easement includes 500 ft. of Winooski<br />
River frontage. $302,500 NRCS funds.<br />
Total project costs: $632,500<br />
East Hill, Woods<strong>to</strong>ck<br />
Mixed use on a trail through land conserved by <strong>the</strong> Upper Valley Land Trust.<br />
Protected for permanent public use by <strong>the</strong> Green Mountain Horse Association,<br />
VAST and <strong>the</strong> general public. UVLT pho<strong>to</strong><br />
16<br />
Tyler & Melanie Webb, Fairfield. $117,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and Option <strong>to</strong> Purchase at<br />
Agricultural Value on 100 acres agricultural<br />
land for transfer <strong>to</strong> organic dairy.<br />
$125,000 NRCS award. Total project costs:<br />
$273,500<br />
Whitney Farmland, Richford. $52,500<br />
VHCB award <strong>to</strong> purchase conservation<br />
easement and option <strong>to</strong> Purchase at Agricultural<br />
Value on 44 acres agricultural<br />
land. $40,000 federal NRCS funding.<br />
Total project costs: $102,500<br />
Wi<strong>the</strong>rell (Suhr) OPAV, Shoreham.<br />
$105,000 VHCB award <strong>to</strong> purchase an<br />
Option <strong>to</strong> Purchase at Agricultural Value<br />
on previously conserved agricultural<br />
land. Grant facilitated purchase by Bill<br />
Suhr whose Champlain Orchard is near<br />
<strong>the</strong> Wi<strong>the</strong>rell land. Total project costs:<br />
$130,000<br />
Organizational Development Grant.<br />
$66,500 award for organizational development<br />
costs. Total administrative budget:<br />
$3,636,000<br />
<strong>Vermont</strong> River Conservancy<br />
Fletcher Access, Enosburgh. $120,285<br />
VHCB award <strong>to</strong> purchase 9 acres on<br />
<strong>the</strong> Missisquoi River <strong>to</strong> be conserved<br />
and conveyed <strong>to</strong> <strong>the</strong> Village of Enosburgh<br />
Falls for a public fishing access<br />
and launching site for <strong>the</strong> Nor<strong>the</strong>rn<br />
Forest Canoe Trail. Donation of land <strong>to</strong><br />
Habitat for Humanity for development of<br />
2 affordable homes. $20,000 grant from<br />
a private foundation; $41,965 in private<br />
fundraising. Total project costs: $182,250<br />
Whiteside parcel, Middlesex and<br />
Worcester. $147,000 VHCB award for<br />
acquisition of 63 acres <strong>to</strong> conserve natural<br />
area. <strong>Vermont</strong> Department of Environmental<br />
Conservation River Corridor<br />
Management Easement along 2.3 miles of<br />
<strong>the</strong> North Branch of <strong>the</strong> Winooski River.<br />
Wildlife habitat, public access <strong>to</strong> river.<br />
Total project costs: $255,000<br />
Organizational Development Grant.<br />
$25,000 award for organizational development<br />
costs. Total organizational budget:<br />
$300,000<br />
Windmill Hill Pinnacle Association<br />
A<strong>the</strong>ns Dome, Graf<strong>to</strong>n. $295,039 VHCB<br />
award for acquisition of 195 acres for<br />
addition <strong>to</strong> multi-<strong>to</strong>wn nature reserve and<br />
trail system. Provides linkage between<br />
two trail systems—<strong>the</strong> nor<strong>the</strong>rn terminus<br />
of <strong>the</strong> Windmill Hill Pinnacle Trail and<br />
a series of class IV roads and trails <strong>to</strong> be<br />
built through <strong>the</strong> newly-acquired land.<br />
$59,350 bargain sale; $36,050 raised<br />
locally. Total project costs: $331,089
Federal <strong>Housing</strong> Funds Awards Supplement v h c b Awards July 2010–December <strong>2011</strong><br />
conjunction with state funds, vhcb<br />
In administers federal fund-ing for<br />
programs <strong>to</strong> develop housing, increase<br />
affordability, add support services, provide<br />
technical assistance, and leverage state and<br />
private dollars for land conservation in<br />
<strong>Vermont</strong>.<br />
h o m e Program<br />
Federal home Program funds are aimed<br />
at serving low- and very low-income<br />
<strong>Vermont</strong>ers in housing developments<br />
meeting <strong>the</strong> priorities of <strong>the</strong> State<br />
Consolidated Plan. These funds help <strong>to</strong><br />
cover project development costs, <strong>to</strong> create<br />
greater affordability in <strong>the</strong> projects, and<br />
<strong>to</strong> supplement vhcb funds. The Board<br />
administers <strong>the</strong> program on behalf of <strong>the</strong><br />
Department of Economic, <strong>Housing</strong> and<br />
Community Development. Since 1992<br />
vhcb has administered $61.4 million in<br />
home funds.<br />
Lead-Based Paint Hazard<br />
Reduction Program<br />
Funded by <strong>the</strong> u.s. Department of<br />
<strong>Housing</strong> and Urban Development, this<br />
program has been operating since ,<br />
administering $9.6 million <strong>to</strong> reduce lead<br />
hazards in more than 2,000 homes and<br />
apartments statewide.<br />
v h c b AmeriCorps Program<br />
vhcb has operated this program for<br />
13 years, co-sponsoring AmeriCorps<br />
members <strong>to</strong> serve with nonprofit housing<br />
and conservation entities statewide.<br />
vhcb has administered $4.7 million in<br />
funds for this program since . In<br />
<strong>2011</strong> <strong>the</strong> program placed 34 AmeriCorps<br />
members.<br />
Agency of Transportation te-21<br />
vhcb has been awarded $2.4 million in<br />
te-21 funds <strong>to</strong> conserve land in proximity<br />
<strong>to</strong> state highways and enhance alternative<br />
transportation systems such as trails<br />
and bike paths. The “transportation<br />
enhancement” funds leverage state funds,<br />
providing ano<strong>the</strong>r source of funds <strong>to</strong><br />
conserve farmland and open land.<br />
Farmland Protection Program<br />
Through <strong>the</strong> usda Natural Resources<br />
Conservation Service, vhcb administers<br />
funds from this federal program<br />
<strong>to</strong> conserve farmland. These funds<br />
supplement <strong>Vermont</strong>’s state and private<br />
efforts, increasing <strong>the</strong> amount of farmland<br />
conserved. The Board has received<br />
$35 million in fpp funds for farmland<br />
conservation. A previous program,<br />
Farmland for <strong>the</strong> Future, brought $14.2<br />
million in federal funds <strong>to</strong> <strong>Vermont</strong> for<br />
farmland conservation.<br />
Farm Viability<br />
Enhancement Program<br />
vhcb funding for this program is<br />
supplemented by federal funding<br />
administered by <strong>the</strong> usda Natural<br />
Resources Conservation Service and by<br />
usda Rural Development Rural Business<br />
Development grant funding. vhcb has<br />
served more than 300 farms with this<br />
program.<br />
h u d Economic Development<br />
Initiative Special Project Grants<br />
The Board administers <strong>the</strong>se onetime<br />
federal grants that are designated<br />
by Congress for specific affordable<br />
housing, community and economic<br />
development, his<strong>to</strong>ric preservation and<br />
land conservation projects statewide. Since<br />
8, <strong>the</strong> Board has administered nearly<br />
$25.5 million in Special Project Grants.<br />
fy10 grants include a land bank fund,<br />
capital funds for <strong>the</strong> <strong>Vermont</strong> Foodbank<br />
Farm, funding for new family and senior<br />
housing developments in Burling<strong>to</strong>n, a<br />
housing preservation fund, redevelopment<br />
of Forest Park West, a 33-unit public<br />
housing development in Rutland, a<br />
housing technical assistance fund, and<br />
seed money for a Flex Capital Fund at <strong>the</strong><br />
<strong>Vermont</strong> Sustainable Jobs Fund.<br />
<strong>Housing</strong> Opportunities for<br />
Persons with h i v/a i d s<br />
hopwa funds provide rental subsidies,<br />
emergency assistance and supportive<br />
services <strong>to</strong> persons living with hiv/<br />
aids. This program was developed in<br />
collaboration with <strong>the</strong> <strong>Vermont</strong> hiv/aids<br />
Care Consortium, <strong>the</strong> Department of<br />
Health, <strong>the</strong> Persons with aids Coalition,<br />
<strong>the</strong> <strong>Vermont</strong> Center for Independent<br />
Living, and <strong>the</strong> aids service organizations.<br />
To date, vhcb has administered more than<br />
$6.9 million in hopwa funds.<br />
h u d Technical Assistance Program<br />
vhcb has administered more than<br />
$300, in various hud funds <strong>to</strong> provide<br />
training, operating support and technical<br />
assistance <strong>to</strong> nonprofit developers of<br />
affordable housing. vhcb uses hud<br />
technical assistance funds <strong>to</strong> develop and<br />
co-sponsor trainings.<br />
Neighborhood Stabilization<br />
Program Funds<br />
vhcb is administering $5.3 million in<br />
Neighborhood Stabilization Program<br />
Funds for housing developments<br />
involving <strong>the</strong> redevelopment of blighted<br />
or foreclosed upon properties in certain<br />
target areas of <strong>the</strong> state.<br />
a r r a State Energy Program<br />
The legislature allocated $2 million<br />
<strong>to</strong> vhcb in American Recovery and<br />
Reinvestment Act State Energy Program<br />
funds <strong>to</strong> improve <strong>the</strong> energy efficiency<br />
and add renewable energy systems <strong>to</strong><br />
affordable multi-family housing. As of<br />
January 2012, <strong>the</strong> ARRA funds have been<br />
utilized in 725 apartments across <strong>the</strong> state.<br />
17
<strong>Vermont</strong><br />
<strong>Housing</strong> &<br />
Conservation<br />
Board<br />
VERMONT HOUSING & CONSERVATION BOARD<br />
FINANCIAL STATEMENTS<br />
As of and for <strong>the</strong> Six Months Ended December 31, <strong>2011</strong><br />
58 East State Street<br />
Montpelier<br />
<strong>Vermont</strong> 05602<br />
tel 802 828 3250<br />
fax 802 828 3203<br />
web www.vhcb.org<br />
Board of Direc<strong>to</strong>rs<br />
Christine H. Hart<br />
Chair<br />
David R. Marvin<br />
Vice Chair<br />
Sarah E. Carpenter<br />
Roy Folsom<br />
Denny Frehsee<br />
Doug Racine<br />
William Roper<br />
Chuck Ross<br />
Michael C. Snyder<br />
Emily Wadhams<br />
Gustave Seelig<br />
Executive Direc<strong>to</strong>r<br />
EQUAL HOUSING<br />
OPPORTUNITY<br />
The attached financial statements present <strong>the</strong> financial activities of <strong>the</strong> Board for<br />
<strong>the</strong> six month period July 1 through December 31, <strong>2011</strong>. These statements have<br />
been compiled on <strong>the</strong> modified accrual basis of accounting and include all funds<br />
of <strong>the</strong> Board, summarized for presentation. These are not audited financial statements<br />
as <strong>the</strong>y are for a six-month period. The audited financial statements, prepared<br />
in accordance with Governmental Accounting Standards Board (GASB),<br />
for <strong>the</strong> year ended June 30, <strong>2011</strong> have been presented separately <strong>to</strong> <strong>the</strong> <strong>General</strong><br />
<strong>Assembly</strong>.<br />
The attached Balance Sheet and Statement of Revenues and Expenditures combine<br />
similar funds for presentation. These funds are briefly detailed as follows:<br />
Trust Fund includes <strong>the</strong> Trust fund, and <strong>the</strong> Operations fund of <strong>the</strong> Board.<br />
Bond Fund – open Capital Bill funds committed, but not yet disbursed.<br />
Home Programs – restricted federal grant program: US Department of <strong>Housing</strong><br />
& Urban Development (HUD) – HOME program administered by <strong>the</strong> Board.<br />
Farmland Preservation Program – restricted federal grant program: US Department<br />
of Agriculture Natural Resources Conservation Service.<br />
Miscellaneous Grants – various restricted federal and supplementary awards.<br />
Fund Equity<br />
Committed for Projects – this represents encumbrances, which are not yet<br />
disbursed. These commitments are legal obligations of <strong>the</strong> Board that arise<br />
when <strong>the</strong> Board adopts resolutions <strong>to</strong> fund specific projects. The Board commitments<br />
are evidenced by grant agreements, which are <strong>the</strong> contracts that <strong>the</strong><br />
grantees rely upon <strong>to</strong> incur costs and proceed <strong>to</strong> closing.<br />
Restricted for Programs – <strong>the</strong>se reserves represent portions of <strong>the</strong> fund equity<br />
which have been legally segregated for specific purposes.<br />
Reserved for Operations – this reserve represents funds for current fiscal year<br />
program operations.<br />
Questions regarding this financial information may be directed <strong>to</strong> <strong>the</strong> office of <strong>the</strong><br />
<strong>Vermont</strong> <strong>Housing</strong> and Conservation Board.
<strong>Vermont</strong> <strong>Housing</strong> Conservation Board<br />
Balance Sheet<br />
As of 12/31/<strong>2011</strong><br />
(In Whole Numbers)<br />
Trust Fund Bond HOME Program<br />
Farmland<br />
Preservation<br />
Program Miscellaneous Grants Total<br />
Assets<br />
Cash<br />
Cash Accounts & Petty Cash 50,706 0 0 0 0 50,706<br />
State Accounts 1,996,181 0 0 0 1,180,853 3,177,034<br />
Total Cash 2,046,887 0 0 0 1,180,853 3,227,740<br />
O<strong>the</strong>r Assets<br />
Due from o<strong>the</strong>r funds 481,152 0 0 0 724,360 1,205,512<br />
Security Deposit & Prepaids 11,000 0 0 0 0 11,000<br />
Loans Receivable 93,745,510 0 39,534,765 0 11,132,362 144,412,637<br />
Due from State of <strong>Vermont</strong> 8,047,500 3,718,167 0 0 0 11,765,667<br />
Anticipated Grant Revenue 227,910 0 6,447,636 3,733,565 6,753,514 17,162,624<br />
Securities 0 0 0 0 0 0<br />
Miscellaneous receivables 2,650 0 0 0 870 3,520<br />
Total O<strong>the</strong>r Assets 102,515,723 3,718,167 45,982,401 3,733,565 18,611,105 174,560,961<br />
Total Assets 104,562,610 3,718,167 45,982,401 3,733,565 19,791,958 177,788,701<br />
Liabilities and Fund Equity<br />
Liabilities<br />
Accrued liabilities & payables 112,294 0 0 0 0 112,294<br />
Due <strong>to</strong> o<strong>the</strong>r funds 725,762 0 83,133 0 396,617 1,205,512<br />
Due <strong>to</strong> State of <strong>Vermont</strong> 0 0 0 1,808,750 1,789,864 3,598,614<br />
Deferred revenue - loans 93,745,510 0 39,534,765 0 10,860,667 144,140,942<br />
Deferred revenue - grants 0 0 0 0 16,159 16,159<br />
Anticipated grants committed 227,910 0 6,364,503 1,924,815 4,650,062 13,167,290<br />
Long-term debt 0 0 0 0 271,695 271,695<br />
Total Liabilities 94,811,476 0 45,982,401 3,733,565 17,985,064 162,512,507<br />
Fund Equity<br />
Restricted for project commitments 8,607,347 3,718,167 0 0 917,421 13,242,935<br />
Restricted for programs 207,526 0 0 0 889,473 1,096,999<br />
Reserved for program operations 936,260 0 0 0 0 936,260<br />
Total Fund Equity 9,751,133 3,718,167 0 0 1,806,894 15,276,195<br />
Total Liabilities and Fund Equity 104,562,610 3,718,167 45,982,401 3,733,565 19,791,958 177,788,701
<strong>Vermont</strong> <strong>Housing</strong> & Conservation Board<br />
Statement of Revenues and Expenditures<br />
From 7/1/<strong>2011</strong> Through 12/31/<strong>2011</strong><br />
(In Whole Numbers)<br />
Farmland<br />
Trust Fund Bond HOME Program Preservation Program<br />
Miscellaneous Grants<br />
Total<br />
Revenues<br />
Loan repayment - principal 16,824 0 0 0 17,510 34,334<br />
Loan repayment - interest 10,547 0 0 0 0 10,547<br />
O<strong>the</strong>r income 1,108 0 0 0 1,275 2,383<br />
Interest income 4,476 0 0 0 227 4,702<br />
Property transfer tax revenues 8,047,500 0 0 0 0 8,047,500<br />
Mitigation Revenues 0 0 0 0 47,379 47,379<br />
Grant revenues 100,000 0 2,337,777 1,493,750 6,253,226 10,184,753<br />
AmeriCorps Sponsor Share 0 0 0 0 65,810 65,810<br />
Donations 6,000 0 0 0 0 6,000<br />
Total Revenues 8,186,455 0 2,337,777 1,493,750 6,385,426 18,403,408<br />
Expenditures<br />
Salaries and Related Expenditures<br />
Salaries 303,353 0 93,096 0 295,754 692,204<br />
Related Payroll Expenses 173,164 0 29,125 0 92,013 294,301<br />
Total Salaries and Related Expenditures 476,517 0 122,221 0 387,767 986,505<br />
O<strong>the</strong>r Expenditures<br />
Consulting Services 8,525 0 0 0 0 8,525<br />
Board Expenses 4,671 0 0 0 525 5,196<br />
Administrative Expenses 71,262 0 23,316 0 81,353 175,931<br />
Grant & Loans 1,980,307 2,508,226 2,184,922 1,493,750 5,127,785 13,294,989<br />
O<strong>the</strong>r Direct Program Expenses 46,792 0 7,318 0 1,376,633 1,430,743<br />
Total O<strong>the</strong>r Expenditures 2,111,557 2,508,226 2,215,556 1,493,750 6,586,297 14,915,385<br />
Total Expenditures 2,588,074 2,508,226 2,337,777 1,493,750 6,974,063 15,901,890<br />
Operating Transfers in(out)<br />
(484,555) 0 0 0 484,555 0<br />
Total Operating Transfers in(out) (484,555) 0 0 0 484,555 0<br />
Rev over (under) Exp's & Transfers 5,113,826 (2,508,226) (0) 0 (104,082) 2,501,518<br />
Beginning Fund Balance<br />
4,637,308 6,226,393 0 0 1,910,977 12,774,677<br />
Total Beginning Fund Balance 4,637,308 6,226,393 0 0 1,910,977 12,774,677<br />
Ending Fund Balance 9,751,133 3,718,167 0 0 1,806,894 15,276,195