Housing Bond Proposal in Jeopardy
A proposal to issue a $35 million housing bond that would be administered by the Vermont Housing Conservation Board is on the table at the State House, with proponents pushing to keep the measure from being cast aside until the next legislative session. Advocates held a press conference yesterday discussing the importance of the bond and the impact that it can have on Vermont’s housing stock.
The bond would be administered by VHCB, required $2.5 million in servicing each year. On the importance of VHCB being the administrator, John Vogel writes, “Having a competent entity administer the funds is critical because financing affordable housing can be mind boggling in its complexity, often involving ten different layers of City, State, Federal and private capital. VHCB has a great track record in navigating this financial maze and figuring out how to fill critical gaps that allow worthwhile projects to move forward.”
Read Vermont Biz’ overview of the plan and its impact here.