Vermont Housing & Conservation Board - Vermont Legislature

HOUSING PROGRAMSOver 25 years, vhcb has funded a broad array of housing opportunitiesfor Vermonters. Revitalizing downtowns and historic neighborhoodsthrough community and economic development has been a steadyundercurrent, supporting growth in town and village centers and sites withmunicipal infrastructure. Vermont’s non-profit housing developers have createda range of housing types, serving young families, renters and homeowners, seniorsand those with physical, mental or developmental disabilities. We are fortunate tohave so many talented and experienced staff and dedicated board members amongthese groups. Together, they have identified and acted on the needs apparent in theircommunities to improve housing situations for many thousands of Vermonters.The Board has been proud to support their efforts.In this past year, vhcb’s housing activities continued to be shaped by thelingering effects of the recession, including higher vacancy rates in some parts ofthe state, an increase in the number of homeless families, and loss of owner occupiedhomes due to foreclosure. This atmosphere led the board and the non-profithousing organizations to focus on preserving and stewarding existing assets whilecreating new dwellings in appropriate areas of the state and for certain populationswith service-supported housing needs.The Board committed funds for the acquisition and preservation of four developmentswith project-based rental assistance built in the late 1970s and early 1980sin the towns of Benson, Morrisville, Burlington and Swanton. Other 2012 fundinghighlights include awards for new developments in Shelburne, Newport, andBrandon and for the redevelopment of a distressed public housing developmentin Rutland along with continued support for various homeownership initiativesincluding the buyer-initiated Homeland Program, Habitat for Humanity housesand a condominium conversion project in Burlington. With federal funds, vhcbestablished and made funding commitments from a land bank that will hold a keypiece of property in Shelburne Village and a fire damaged site in downtown St.Johnsbury until development can occur.Fiscal Year 2012HOUSINGState Funding Commitments$5,453,500330 units; 18 projectsFederal Funding CommitmentsHOME Program$3,024,156Lead-Based PaintHazard Reduction Program$ 733,001Neighborhood Stabilization Program$511,000S. McCay photos Armory Lane Apartments in Vergennes,25 apartments for seniors developed bythe Addison County Community Trust andHousing Vermont, won a national competitionfor the most innovative use of HUD programfinancing.sThe Regional Affordable Housing Corporationand Housing Vermont developed 14 newapartments and rehabilitated 12 apartments attwo locations in Bennington.Regional Affordable Housing Corporation photo3 / Celebrating 25 Years