VHCB invests $9.2M in support of flood resilience, housing development, and land conservation across the state

At its December meeting, the Vermont Housing & Conservation Board (VHCB) invested in farm, natural land, and affordable housing projects that increase economic vitality and build strong communities throughout Vermont. Funding was approved to support the creation of 88 units of permanently affordable apartment housing in three Vermont communities through a total investment of $4.76 million, and an additional $1 million investment in funds to support housing developments statewide. The Board also voted to invest $3.2 million in the conservation of 409 acres in ten communities, and $300,000 to advance flood resilience efforts. Among the conservation projects funded was Vermont Outright’s initiative to purchase a summer camp on Lake Sunset, fulfilling its long-held vision to create a permanent gathering space dedicated to LGBTQ+ youth in Vermont and beyond.

“The diverse mix of projects brought before the Board for funding this month is an excellent representation of the impact our funding has all around the state,” said VHCB’s executive director Gus Seelig. “Our investments in permanently affordable homes and the conservation of Vermont's agricultural land, forestland, historic properties, natural areas, and recreational lands will ensure economic resilience in our communities and enhance the overall quality of life for all Vermont residents, now and in future generations.”

SUMMARY OF AWARDS:

Addison County – VHCB awarded $475,000 to conserve 110 acres in Bridport and Cornwall.

Addison & Rutland County – VHCB awarded $1,382,268 to Outright Vermont for the purchase of Camp Sunrise in Benson (Rutland County) and Orwell (Addison County).

Caledonia County – VHCB awarded $152,500 to conserve 52.43 acres in Hardwick.

Franklin County – Cathedral Square Corporation (CSC) was awarded $690,000 for the new construction of a three-story, 33-unit building in the city of St. Albans to serve older Vermonters aged 55. Of the 33 total units, 6 are designated for households exiting homelessness. The site is within the City’s Growth Center, served by two Green Mountain Transit bus lines, adjacent to a neighborhood of established single family homes and less than half a mile from St. Albans’ historic downtown. This development will be subdivided from a larger vacant parcel, and the city intends to develop additional market rate housing on the remaining lot.

VHCB awarded $185,850 for the conservation of 1.14 acres at Camp DREAM in Fletcher.

Orange County – VHCB awarded $363,000 to conserve 82 acres in Orange & Washington towns.

Washington County – VHCB approved a $1,587,600 award for the Fox Run development in Berlin. Downstreet Housing & Community Development (Downstreet) and Evernorth will develop 30 permanently affordable rental apartments in a new-construction three-story building in the Berlin New Town Center development area surrounding the Berlin Mall and adjacent to the Berlin Elementary School.

VHCB awarded $256,000 to conserve 83 acres in Stowe.

Windham County – Windham & Windsor Housing Trust (WWHT) and Evernorth received a VHCB award of $1,351,018 for the Alice Holway development that will create 25 new units of permanently affordable housing in Putney.

VHCB awarded $370,500 to conserve 48.72 acres in Dummerston.

Statewide – VHCB approved $1 million in innovation funds to Evernorth to advance and expedite housing development projects statewide.

VHCB awarded $300,000 to Two Rivers Ottauquechee Regional Foundation for the Resilience Initiative for Vermont Empowerment and Recovery (RIVER) flood resilience project.