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2011 Annual Report to the General Assembly - Vermont Housing ...

2011 Annual Report to the General Assembly - Vermont Housing ...

Housing

Housing Awards July 2010– December 2011 Barre Street Senior Housing, Montpelier Following a fire, the City of Montpellier donated this building to Capital City Housing Foundation, Inc., a subsidiary of the Montpelier Housing Authority, and to the Montpelier Senior Center. CCHF will create 14 apartments on the upper stories for seniors and persons with disabilities. USDA Rural Development will provide rental subsidies for 12 households. The ground floor and part of the second story will host the Montpelier Senior Center. While keeping the historic features intact, solar photovoltaic cells, a wood pellet boiler, super insulation, solar hot Addison County Community Trust Organizational Development Grant. $33,300 award for organizational development costs. $20,373 federal CHDO award. Total organizational budget: $1,440,000 Burlington Housing Authority Wharf Lane Commons, Burlington. $725,000 VHCB award for acquisition and rehablitiation of 37 units of federally assissted units of rental housing at risk of conversion to market rate. $200,000 HUD Special Purpose Grant. Total development costs: $8,655,835 King Street, Burlington. $400,000 VHCB award to develop 16 rental units targeted to individuals who are homeless, at-risk of homelessness, or in need of service-supported affordable housing. Project-based rental subsidies and service coordinator provided by the Burlington Housing Authority (position funded by the Agency of Human Services). Total development costs: $2,200,000 Capital City Housing Foundation 58 Barre Street, Montpelier. $350,000 VHCB award to develop 14 units of housing for seniors and persons with disabilities on the upper stories of a firedamaged building that formerly housed the senior center. 85% of energy consumption generated/conserved on site with super insulation, photovoltaic electricity generation, solar hot water, wood pellet boiler, energy efficient lighting and heat exchange ventilation. Historic building donated by the City; $105,000 in Montpelier Housing Trust Funds; $321,600 HOME Program award; $70,000 ARRA funding from the Vermont Clean Energy Development Program. USDA Rural Development 515 Program funding and rental assistance. Total residential development costs: $3,240,700 Cathedral Square Corporation 3 Cathedral Square, Burlington. $325,000 VHCB award for the refinance and rehabilitation of 108 apartments for elderly residents with rental assistance in downtown Burlington. The development includes 28 units of assisted living. $50,000 VHCB energy grant for photovoltaic installation. Cathdral Square will sell surplus power back to Burlington Electric. $400,000 HUD Green Retrofit Award. Total development cost: $6,920,259 Thayer Senior Housing Phase I, Burlington. $593,095 VHCB award to develop 33 units of new construction, infill senior housing in the New North End adjacent to Leddy Park. Three stories with underground parking, in collaboration with Champlain Housing Trust and developer Eric Farrell, as part of a larger, intergenerational development including family rental housing and market rate housing. Other funding sources include $283,000 HUD EDI Special Purpose Grant, NSP, Burlington Housing Trust Fund, Effi- Phoenix House, Burlington. $162,000 water, energy efficient lighting VHCB award to develop a 19-bed servicesupported transitional housing facility and heat exchange ventilation will for people leaving the correctional system allow the building to generate 85% and recovering from substance abuse. of its own energy. One bedroom for an on-site manager. Total development costs: $862,000 ciency Vermont, bargain sale of the lot. 2 Total development costs: $7,915,137 2

Housing Awards July 2010–December 2011 Phoenix House, Burlington provides housing and support services for men recovering from drug and alcohol abuse. VHCB funding helped Burlington Housing Authority to purchase and rehabilitate this Victorian house and lease it to Phoenix House. Residents participate in a 3- to 24-month sober living program featuring weekly recovery groups, individual therapy, and self-help meetings. Thayer Senior Housing Phase II, Burlington. $600,000 VHCB award to develop an additional 32 units of new construction, infill senior housing in the New North End adjacent to Leddy Park. (See above description.) Organizational Development Grant. $33,300 award for organizational development costs. Total organizational budget: $1,300,261 Central Vermont Community Land Trust Whistlestop and Verdmont Mobile Home Parks, Bradford and Waitsfield. $250,000 VHCB award to refinance and upgrade infrastructure in two CVCLT-owned mobile home parks with a total of 41 lots. Stormwater, electrical and water systems will be improved at the Waitsfield park. Site work in Bradford will include grading, new catch basins and removing trees. Road and driveway paving, connection to town water (Verdmont) and sewer (Whistlestop). Concrete slabs will be poured under homes upon turnover. Total development costs: $1,132,500 Organizational Development Grant. $31,800 award for organizational development costs. $20,373 federal CHDO award. Total organizational budget: $3,500,000 Champlain Housing Trust Organizational Development Grant. $66,000 award for organizational development costs. $20,373 federal CHDO award. Total organizational budget: $6,825,668 Cedar’s Edge, Essex. $62,815 VHCB award for new, 30-unit multi-family rental development. $337,185 HOME Program award. $231,325 HUD Special Project Grant. Total development costs: $5,403,525 City Neighborhoods, Burlington and Winooski. $508,348 VHCB award to refinance and improve 10 buildings with 40 units. Energy improvements include conversion to central, high-efficiency heating systems in each building and installation of high levels of insulation and weatherization resulting in an overall 30-50% reduction in fuel usage. $236,652 HOME Program award. $76,315 ARRA State Energy Program funding. Total redevelopment costs: $6,825,000 Harrington Village, Shelburne. $500,000 VHCB award for construction of 42 affordable homes in Shelburne village. $950,000 HOME Program award. Total development costs: $10,070,715 photo: Phoenix House: Rising Above Addiction Pine Manor Senior Housing, Alburgh Village. $240,000 federal HOME funds and $46,882 ARRA State Energy Program funding for acquisition and renovation of 16 apartments for elderly residents with rental assistance. Pine Manor is located in Alburgh’s designated village center. Solar hot water. Total development cost: $2,160,333 Avenue Apartments, Burlington. $600,000 VHCB award for new construction of 33 units of family housing in the New North End neighborhood of Burlington. Part of a planned redevelopment of a large parcel on North Avenue to include senior and market rate housing close to services on public transportation route. City of Burlington $500,000. Bargain sale of the lot by the state of Vermont. Solar hot water, high energy efficiency standards. $150,000 HUD EDI award. Total development costs: 7,617,222 Gilman Housing Trust Governor Mansion Apartments, Newport City. $280,612 HOME Program award for 15 senior housing apartments. $22,459 ARRA State Energy Program funds. Total development costs: $608,266 3

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