Vermont Housing Grants Resources
Vermont Housing and Conservation Board (VHCB)
The Vermont Housing and Conservation Board (VHCB) has deferred loans to use in acquisition, building and rehabilitation of affordable housing by non-profit housing organizations. For almost 25 years now, VHCB had already developed more than 10,000 permanently decent, safe and affordable houses and dealt with thousands of Vermont housing grants. In fact, even the private developers are entitled to apply for federal HOME program funding (for the use of rental housing developments). They are also eligible for Lead Paint Hazard Abatement Funding.
Some of their significant programs are:
- Home Ownership Program
- Homeland Program – provides purchased subsidies as well as assistance so that the down payment and closing costs will be much more affordable for the local residents of Vermont. The deserving individuals and families may receive grants (maximum of $40,000 or 20% of the purchased price) when buying a home.
- Multi-Family Rental Housing
- Transitional Housing – for seven years now, this program is mainly for households who were then homeless or those in need of short term housing with complete support services.
- HOME Program
- Mobile Home Parks – this is to assist low-income households so that they can be able to purchase decent and affordable mobile homes in non-profit owned mobile home parks.
- Neighborhood Re-stabilization Program
- Lead Paint Program
Vermont Housing and Conservation Board
58 East State Street
Montpelier, VT 05602
Vermont Department of Housing and Community Affairs (VDHC)
The Vermont Department of Housing and Community Affairs is giving grants for many different community development needs. That includes, among others, housing, planning, economic development, historic preservation, brownfields remediation, historic preservation, accessibility improvements of some municipal buildings, among many others.
Their Housing Division is solely responsible in shouldering the Mobile Home Parks Program as well as the Charitable Housing Investment Tax Credit. The latter takes care of the development of Vermont’s HUD consolidated plan for Housing and Community affairs. This is where the U.S. Housing and Urban Development based their guides and Vermont housing grants funding decisions.
Homelessness has been addressed by the institution for years now. But there are still more to offer as it was reported that more than 2,782 homeless persons in the State of Vermont still need urgent help. The organization has been encouraging more and more people to take initiative to help more people in need to have refuge and shelter temporarily or permanently.
Vermont Department of Housing and Community Affairs
1 National Life Drive 6th Floor
Montpelier, VT 05620
Phone: (802) 828-3211
Fax: (802) 828-3258
Vermont Housing Finance Authority (VHFA) for Vermont Housing Grants
For more than thirty seven years now the Vermont Housing Finance Authority is already financing and promoting affordable housing opportunities for citizens of Vermont with low to moderate income. Since then, the agency already assisted around 27,000 local residents and their families to purchase their selected primary residences through Vermont housing grants. Along with that, the agency assisted in developing, financing, and management support, tax credits and subsidy administration to about 8,400 housing units of multifamily rental housing.
Among the activities of the organizations are divided into two:
Single family and home ownership mortgage financing program
Participating lenders like banks, mortgage companies, and credit unions around the state are providing purchasing loans to home ownership financing supported by the VHFA. Those are not typical Vermont housing grants but mostly housing loans. The authority is also the company who financed five Neighbor Works Home Ownership Centers that are strategically located around the entire state.
Multifamily loan programs
Asset management and monitoring – VHFA continuously monitors all of the housing projects for:
- Long-term financial visibility
- Long-term affordability (if not perpetual)
- Preservation of market value
- Program Compliance
- Property Maintenance
HAP contract administration – the monitoring responsibilities of VHFA extends to HUD HAP Contract Administration for Section 8 subsidy payments and other units from Vermont State Housing Authority.
Federal and state Housing Tax Credit programs – The responsibilities of VHFA in this programs include:
- Administration of reservation and monitoring of housing projects with IRS requirements
- Coordination, review, receipt and underwriting of Tax Credit Applications for the presentations to the VHFA Board of Commissioners and Tax Credit Allocation Committee.
- Ongoing review of the company’s tax credit rules and regulations so that State Qualified Allocation Plan will be efficiently incorporated.
Vermont Housing Finance Authority
164 Saint Paul Street
P.O. Box 408
Burlington, VT 54402-0408 USA
Phone: (802) 864-5743
Fax: (802) 864-8081