Vermont Business Magazine Governor Phil Scott signed legislation in June of this year that provides $15 million in funding for the Missing Middle-Income Homeownership Development Pilot Program. The program represents the largest single investment in the state’s history to create new homeownership opportunities by investing in the construction of for-sale homes. The program will be initially funded from a portion of the State’s American Rescue Plan Act (ARPA) funding.
The program will provide subsidies and incentives for home builders to construct or rehabilitate modest homes affordable to Vermont homebuyers at 120% Area Median Income or lower.
The Missing Middle-Income Development Program opened for applications on December 2nd. VHFA received pre-applications from projects in 12 towns in 8 of Vermont’s counties. Applications will be considered on a rolling basis. Details can be found on the program page (link). It is expected the program will create over 100 new homeownership opportunities for Vermont communities. The launch event will include speakers highlighting the need for this innovative program, program details, and the impact new home construction will have on Vermont.
Event Details:
Tuesday, December 13th at 10:00AM
National Bank of Middlebury, Main Offices – 1st Floor Duclos Building
30 Main Street, Middlebury, VT 05753
Parking available on Street. More information available at:
https://vhfa.us12.list-manage.com/track/click?u=f60d65cec2ddbd87c19f48d2c&id=2bd79e727f&e=9a22319603
Agenda & Speakers:
10:00 – 10:50 AM: Welcome and Speakers
National Bank of Middlebury: Caroline Carpenter, President
Vermont Housing Finance Agency: Maura Collins, Executive Director
State of Vermont: Josh Hanford, Commissioner, Department of Housing and Community Development
Middlebury College: David Provost, Executive Vice President of Administration
Developers - Summit: Zeke Davisson, Chief Operating Officer
Non-Profit Partner - Addison County Community Trust: John Barstow, Board Chair
Town of Middlebury: Kathleen Ramsay, City Manager
10:50 – 11:00AM: Question and Answer
11:15 AM: Optional Site Visit (location TBA)
Vermont Housing Finance Agency. Burlington. 12.9.2022
