• Source: Vermont Housing Finance Agency

      • The Vermont Housing Finance Agency (VHFA) is chartered as a private non-profit agency to finance and promote affordable housing opportunities for low- and moderate- income Vermonters. They are located in Burlington, Vermont.


      History


      The Vermont legislature established the agency in 1974.
      By 2018, the VHFA had assisted approximately 29,000 people to purchase primary residences; and provided financing, development and management support, subsidy administration and tax credits for about 13,650 units of multifamily rental housing.


      Operations


      The board of directors has five members whom the Governor of Vermont appoints. There are also four "ex officio" members representing the finance and construction industry who also vote. The Executive Director is Maura Collins.
      VHFA helps applicants with

      Single-family and homeownership mortgage financing programs
      Multifamily programs including:
      Multifamily loan programs
      Asset management and monitoring
      Housing Assistance Payments contract administration
      Federal and state Housing Tax Credit programs
      VHFA reports housing data to responsible government agencies.


      = Financial

      =
      Since 1974, the agency has issued $2.96 billion worth of bonds and other financial instruments, of which $783.9 million was still outstanding at the end of the fiscal year ending June 30, 2010. Operating expenses were $4.6 million out of which $3.0 million were for personnel salaries and benefits.


      = Staffing

      =
      VHFA has about 40 employees. it issues tax-exempt bonds to fund its loan programs. It supports its operation out of the difference between what it gets for interest from its debtors and what it gets from lenders. The bonds are obligations of the agency and are underwritten by its loans.


      Notes




      External links


      State Housing Agencies Get Caught in Credit Crunch
      Forest Park banks on grants for revitalization
      Tax credits aid Vermont home sales
      National Homeownership Month program
      Vermonters Struggle To Afford Renting a Home
      Study shows recession makes Vermont’s housing problems harder to solve
      Home prices out of reach for Vermonters (video)
      Affordable Housing in Vermont (Video produced by the Vt Housing Awareness Campaign)
      Pop Quiz: Sarah Carpenter
      She’s got you covered - Magazine profile of Executive Director

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