Vermont Business MagazineAs budget negotiations in Washington, DC,intensify, Vermont Governor Peter Shumlin and four other New England governors have united across party lines to support a critical federal housing program. The HOME Investment Partnerships Program funds the development of affordable homes and is threatened to be nearly eliminated under congressional budget proposals. Governors Baker (R-MA), Hassan (D-NH), Malloy (C-CT), and Raimondo (D-RI) have joined Shumlin in sending a letter to the New England delegation in the USSenate supporting restored funding for the HOME Program.
“As governors, we are particularly attuned to the problems of both housing for our workforce and for our most vulnerable citizens who in highly competitive markets across New England are too often faced with homelessness,” according to the letter. “As you consider funding priorities for Fiscal Year 2016, we speak together on a bipartisan basis in favor of an increased federal/state partnership on the issue of affordable housing,” it continues.
Funding for the HOME Program has been slashed repeatedly over the past few years at the same time that the need for affordable housing has grown. Almost half of Vermont renters now pay more than 30 percent of their income for housing and nearly a quarter spend more than 50 percent. Under recent proposals from Congress, the HOME Program is slated for yet another significant reduction by the House and would be virtually eliminated under a Senate Appropriations Committee proposal. Senator Patrick Leahy (D-VT) is spearheading efforts to save the program. It is also supported by Senator Bernie Sanders (D-VT).
“Too many Vermonters struggle with the high cost of homes. We need to be creating more affordable housing, not less,” said Gus Seelig, Executive Director of the Vermont Housing & Conservation Board. “We thank Governor Shumlin and his fellow New England governors for recognizing the importance of the HOME program and for urging all members of Congress to follow the lead of Senator Leahy in supporting restored funding for HOME.”
The HOME program was authorized in 1990 as part of the Cranston-Gonzalez National Affordable Housing Act and is the only federal block grant exclusively for developing homes affordable to people with low or moderate incomes. It can be used to build new houses or rehabilitate existing homes and make them more energy efficient. HOME is an essential source of funding for housing in Vermont and, in combination with other state and federal resources, has created or preserved more than 5,600 homes in 274 developments since 1992.
HOME funding comes to Vermont through the Department of Housing and Community Development. The program is administered by the Vermont Housing & Conservation Board, which has been recognized with a national award from the U.S. Department of Housing and Urban Development for outstanding work in using the program to create affordable homes.
“HOME is a proven tool,” added Noelle MacKay, Commissioner of the Department of Housing and Community Development. “It helps our most vulnerable residents while also reinvesting and bringing old buildings back to life in our community centers. We look forward to seeing a continued commitment from Washington for this important federal, state and local partnership.”