State Allocates $55 Million for New Housing
September 21, 2023 | Vermont
(The Center Square) — Vermont is pumping more than $55 million into boosting its housing stock amid a shortage of homes that officials say is hurting the state’s economy.
State Treasurer Mike Pieciak said the allocation is the largest housing investment under the “10% in Vermont ” program. He said it will leverage an estimated $340 million in new capital to “support” the cost of building 1,100 housing units.
“Our lack of housing is holding back the full potential of the Vermont economy,” Pieciak said in a statement. “More housing means critical occupations like nurses, teachers, and first responders will be able to find homes in the communities they serve and businesses will be able to hire new workers to expand their businesses.”
Under the disbursement, at least $50 million will be diverted to the Vermont Housing Finance Agency, $5 million will go to the Vermont Economic Development Authority, and $500,000 to the Northern Forest Center, the treasurer’s office said. (Excerpt from The Center Square.)
