April 30, 2025
Agenda:
• Welcome
• Overview of S.127, an act relating to housing and housing development
Rep. Mihaly and Rep. Graning
• Update on USDA Funding
Anore Horton, Hunger Free Vermont
Maddie Kempner, NOFA Vermont
Michelle Monroe, VACD
Minutes:
Welcome
Overview of S.127, an act relating to housing and housing development
Rep. Mihaly, Chair of General and Housing:
S.127 looks to be the vehicle for the House’s previously passed housing bill and looks to strengthen several programs related to housing development. The bill includes an appropriation that will work through the bond bank to loan money to housing developers. The committee referenced a previous study completed on the land bank to create language focused on the revitalization of abandoned homes and properties.
Rep. Graning, Vice Chair of Commerce and Economic Development :
The Community Housing Infrastructure Program (CHIP) is set up in S.127 to provide housing infrastructure and improvement through financing to creating housing for low and moderate income Vermonters. This program is meant to set up smaller tax increment finance districts, likely one parcel rather than multiple. A municipality or a developer can be the bond holder and overall work together to ensure appropriate housing is agreed upon. The goal is for development of primary residences for low and moderate income folks. This can be paired with commercial space, but 60% must be housing. A CHIP board will be set up to assist municipalities with other housing solutions that would work best for their community. Overall, tax increment finance districts have worked well for larger projects in towns with municipal capacity and CHIP looks to assist smaller projects in towns with less capacity. All communities can access CHIP, but it may be better suited for smaller communities.
Update on USDA Funding
Anore Horton, Hunger Free Vermont
Maddie Kempner, NOFA Vermont
Michelle Monroe, VACD
Meeting recording coming soon.
