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

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


Housing Awards July 2010– December 2011 Twin Pines Housing Trust and Housing Vermont Graystone Village Energy Retrofit, Hartford. $162,500 award for energy conservation measures for 34 apartments. $150,000 HOME Program award. Vermont Community Loan Fund Organizational Development Grant. $18,479 VHCB award for organizational development costs. Total organizational budget: $1,339,000 6 Hickory Street, Rutland Completed last fall, the first phase of this ambitious, $8.4 million redevelopment of Forest Park, a deteriorated 75-unit public housing complex, resulted in 33 new, mixedincome rental units. The complete redesign of the development entails demolition and rebuilding of the entire complex. Extensive site work includes new streets, water, sewer, stormwater, utilities, landscaping, lighting, parking, sidewalks and greenspace. Once complete, the new neighborhood will comprise 78 new rental apartments, 9 homeownership units, and a new community center, all designed to integrate the property into the surrounding neighborhood. The project will make a critical difference in the particular Rutland neighborhood in which it is located and in the lives of the low-income households who reside there. photo: Duncan Wisniewski Architecture Rockingham Area Community Land Trust and Housing Vermont Black River Overlook, Ludlow, Vermont. $434,000 VHCB award to refinance and recapitalize a 25-unit apartment complex. New wood pellet heating system, solar collectors, insulation, kitchen and bathroom improvements, additional wheelchair accessibility, roofing, site drainage, improvements to walkways, roadways, and to the water system. Total redevelopment costs: $4,902,509 Rutland Housing Authority and Housing Vermont Hickory Street, Phase I, Rutland. An award of $500,000 federal HOME funds for construction of 33 rental units. The multi-phased project will redevelop Forest Park, a deteriorated public housing complex. $525,000 HUD EDI award. Total development cost: $8,488,556 Hickory Street Phase II, Rutland City. $1,114,000 federal NSP Program funds for redevelopment of 20 apartments in a multi-family development. Twin Pines Housing Trust Anna Pluhar, Hartford. $30,000 VHCB award for energy efficiency upgrade. Organizational Development Grant. $33,300 VHCB award for organizational development costs. $20,373 federal CHDO award. Total organizational budget: $1,724,865 Washington County Mental Health Services Sierra House, Barre. $90,000 VHCB award for the purchase and rehabilitation of 4 units of service-enriched transitional housing for formerly homeless pregnant and post-partum women in recovery and their children. The program seeks to increase long-term emotional health for mother and child and to enhance selfsufficiency and parenting skills. Total development cost: $226,500 Windham & Windsor Housing Trust Brattleboro Family Housing, Brattleboro. $196,000 VHCB award to make energy and capital improvements in 4 buildings with 28 apartments at 11 & 15 Spring Street, 135/137 Elliot Street, and 16-38 Valgar Street. Rehabilitation will include new boilers and windows, solar hot water, new kitchens and baths, exterior painting and site work, and sprinkler systems at the Elliot and Spring Streets properties. $574,000 HOME program funds. $138,796 ARRA State Energy Program funds. Total projects cost: $4,617,244 Algiers Village, Phase II, Guilford. $425,000 VHCB award for acquisition, construction, and related expenses to develop 17 apartments in two buildings on Guilford Center Road. $265,000 HOME Program award. Total development costs: $4,369,030 WHT/RACLT project specific capacity funding. $50,000 VHCB award to assist

Housing Awards July 2010–December 2011 with costs associated with merger of the Rockingham Area Community Land Trust with the Windham Housing Trust. $40,000 HUD EDI Technical Assistance Grant. Organizational Development Grant. $33,300 VHCB award for organizational development costs. $20,373 federal CHDO award. Total organizational budget: $1,062,437 STATEWIDE PROGRAMS Energy Efficiency Fund $100,000 VHCB funding for energy efficiency upgrades to affordable housing developments. Feasibility Fund $150,000 recapitalization of the VHCB feasibility fund, which provides awards of up to $15,000 for predevelopment costs including surveys, options, appraisals, market and engineering studies, architect’s fees, etc. Habitat for Humanity and Vocational Education Programs $210,000 two-year recapitalization of program to provide grants for 14 homes built by Habitat for Humanity chapters or vocational educational programs. Homeland Program $385,000 recapitalization of program providing purchase subsidies and rehabilitation loans to low- and moderateincome Vermont households purchasing homes through community-based housing organizations and Neighbor- Works® HomeOwnership Centers. Will provide approximately 11 purchase subsidies and 2 rehab loans. Organizational Development Grants $508,928 for FY12 organizational development grants to 12 housing organizations operating around the state. $167,819 in HUD funds for organizational development grants to 10 Community Housing Development Organizations. Site-Based Homeownership Fund $75,000 recapitalization of fund to provide supplementary downpayment grants for homeownership units. Technical Assistance Fund $40,000 recapitalization of the VHCB Technical Assistance fund to assist housing development and conservation organizations with organizational sustainability, long-term property management, asset management and stewardship of long-term restrictions on properties. Transitional Housing Fund $800,000 recapitalization of fund for the development of transitional housing statewide. Vermont Center for Independent Living Home Access Program. $760,000 VHCB award for program and operating costs over two years for the Home Access Program, which provides grants statewide for accessibility modifications to homes occupied by low-income people with physical disabilities. VHCB Land Bank Fund $500,000 HUD EDI grant to capitalize land bank fund. Windham & Windsor Housing Trust photo Upper Story Housing, Brattleboro The Windham and Windsor Housing Trust and Housing Vermont are working with the Brattleboro Co-op to develop 24 apartments on the 3 rd and 4 th floors of a new commercial building being constructed by the Co-op. Heat and hot water for the apartments will be supplied by recaptured waste heat from the Co-opís refrigeration system. The new building will replicate the historic streetscape. The apartments are expected to be complete in Spring 2012. VHCB committed $475,000 in state funds and $200,000 in federal HOME funds towards the housing in the $4.9 million development. 7

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