People’s United Bank was the first institutional investor to commit to purchasing the Sustainability Bonds. The Vermont State Employees Credit Union (VSECU) also purchased bonds.
The House and Senate tax bills could be detrimental to an already struggling affordable housing situation in Vermont, according to estimates released by the Vermont Affordable Housing Coalition.
Affordable housing borrowers in Vermont aren’t being expected to pay back loans, but that arrangement raises questions about IRS definitions of a bona fide loan in low-income tax credit projects.
“With who’s going to inhabit the building and having counselors there, this is one of the most high-traffic drug areas and problem areas in Brattleboro,” said Dick DeGray, a former Select Board member.
Memorable lines from the governor’s second address to the state suggest that he will once again oppose increases in taxes, fees and spending while promoting skilled jobs and affordable housing.
“The money is never going to be paid back — that’s the red flag.”
Gov. Phil Scott’s proposed $35 million bond for affordable housing seemed to have broad support only months ago, but now the proposal appears to be on life support.
Gov. Phil Scott on Friday announced a four-fold plan to strengthen the local economy by creating more housing in areas designated for growth and reinvestment.
Mayor Miro Weinberger wins re-election, 72 percent of residents vote to approve $85 million school budget with 8 percent property tax increase, and voters say yes to more climate action and advising funding for affordable housing.
Responding to criticism that mortgage loans for Vermont’s affordable housing program will likely never be repaid, the head of the the Vermont Housing Finance Agency says the program doesn’t depend on repayment, and is nonetheless financially sound.
In this week’s Statehouse Headliners, numbers don’t exist for tracking Vermont’s greenhouse gas reduction goals, more employed Vermonters means less dependency on public assistance, and the Vermont Medical Society is being pressured to say assisted suicide is ethical.