Our Mission
VHCB invests in the construction of affordable housing and conservation strategies that work together to ensure equity, resilience, and vitality for Vermont communities in perpetuity.
Our History
In the mid-1980s, a rapid rise in housing prices and an increase in the pace of development threatened the rural character and historic settlement patterns of Vermont. As a result, in 1986, a coalition of affordable housing, conservation, and historic preservation advocates approached the state legislature with a plan to form a unique agency that would review and fund projects to address a range of community needs. In response, the Legislature passed the Vermont Housing and Conservation Trust Fund Act in 1987.
The newly created Vermont Housing and Conservation Board, or VHCB, was charged with a dual goal mission:
to create permanently affordable housing and conserve and protect Vermont’s agricultural, forest, recreational, and natural lands, as well as historic properties. Since our founding, we have remained true to this mission by supporting projects that benefit Vermont communities in perpetuity, guided by our core values: equity and access, affordability and economic vitality, environmental sustainability and resilience, and quality of life.
How VHCB is Funded
To facilitate this work, 50% of the revenue generated from the property transfer tax is allocated to fund VHCB’s base budget, along with other monies appropriated to The Fund by the General Assembly. VHCB uses this capital to provide capacity funding as well as grants and loans to a network of partner organizations who do the hard work on the ground. We leverage state dollars by drawing down federal funds and encouraging additional funders to invest in these important initiatives.
Why Housing & Conservation?
Breaking down the traditional silos of housing, economic development, and land conservation allows VHCB to help Vermont communities tackle issues of chronic poverty, job losses, affordability, and fraying infrastructure. Our investments enable our partners to develop and steward affordable homes for working families, improve community infrastructure, protect natural areas and recreational land, restore historic public buildings, grow farm and forest businesses, and support energy efficiency and renewable energy generation.
Strategic VHCB investments have improved the economic stability of Vermont communities and downtowns, municipal and non-profit delivery systems, working lands, and Main Street businesses.
As a result of collaboration between state agencies, nonprofit organizations, and the private sector to develop coordinated solutions to complex issues, the economy of our rural state is becoming more resilient, and quality of life is improving.
The Statute
The Board’s enabling statute is: The Vermont Housing and Conservation Trust Fund Act, 10 V.S.A. Chapter 15, §§302-325a and outlines VHCB’s dual-goal mission as follows:
(a) The dual goals of creating affordable housing for Vermonters, and conserving and protecting Vermont’s agricultural land, forestland, historic properties, important natural areas, and recreational lands are of primary importance to the economic vitality and quality of life of the State.
(b) In the best interests of all of its citizens and in order to improve the quality of life for Vermonters and to maintain for the benefit of future generations the essential characteristics of the Vermont countryside, and to support farm, forest, and related enterprises, Vermont should encourage and assist in creating affordable housing and in preserving the State’s agricultural land, forestland, historic properties, important natural areas and recreational lands, and in keeping conserved agricultural land in production and affordable for future generations of farmers.
