Governor Scott’s $35 Million Housing Bond Supported by Mayors
The Governor’s proposed $35 million Housing Revenue Bond, which the Vermont Affordable Housing Coalition supports, is currently in the legislature. The bod would be administered by the Vermont Housing and Conservation Board, or VHCB. The Vermont Mayors Coalition announced on April 20, that lawmakers should take up this bill, as it would bring welcome funds to help grow Vermont’s affordable housing stock while interest rates and construction costs would still be able to remain low. The Coalition added that we need an increase in housing to protect the most vulnerable residents and senior citizens in all parts of the state.
The Mayors believe this bond will help in both the short-term and the long-term. They say the time to act is now, as benefits will include being able to create new construction jobs and leverage both private and public investment. Further, the Coalition noted that it will give Vermont a chance to revitalize and reinvest in in its communities.
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