On September 28, 2016

Congressional delegation announces $2 million grant for Vermont affordable housing

The Vermont congressional delegation announced Friday, Sept. 23, that Housing Vermont  received a $2 million grant to help provide affordable housing to low-income families in the state.
“While the economy has certainly improved since the Great Recession, far too many people in Vermont and across the country are still struggling to get by on stagnant wages. Many pay 50 percent or more of their limited incomes to keep a roof over their heads, leaving little for food, childcare, transportation and health care,” said Sens. Patrick Leahy (D-Vt.), Bernie Sanders (I-Vt.) and Rep. Peter Welch (D-Vt.) “These funds will help get us a little closer to the day when all Vermonters have safe, decent and affordable housing.”
Housing Vermont is a Burlington-based nonprofit founded in 1988, which creates permanently affordable rental housing and enables investments in economic and community development to benefit Vermonters through partnerships with local organizations, public agencies and the private sector. Housing Vermont has built 5,120 affordable apartments in 171 developments throughout the state.
“We are excited to get these federal funds to Vermont. This $2 million will strengthen our ability to build more affordable housing,” said Nancy Owens, president of Housing Vermont. “There is a tremendous shortage of affordable housing in Vermont. These funds will really help us serve our mission by helping low-income Vermonters in high-need communities secure affordable housing.”
The funds announced by the delegation are part of $91.5 million in grants from the U.S. Treasury’s Community Development Financial Institutions Fund, which were awarded to 32 organizations throughout the United States for the development of affordable housing and community facilities in low-income communities.
Vermont is receiving $3 million from the National Housing Trust Fund to build, preserve, and rehabilitate affordable rental housing.

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