Vermont Housing Conservation Board 2005 - Vermont Housing and ...

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Bob Eddy HOME OWNERSHIP OPPORTUNITIES CITY’S EDGE, SOUTH BURLINGTON: “Putting a Dent in the Housing Crisis” hen City’s Edge Condominiums opened this year in South Burlington, just 18 Woff I-189 and Shelburne Road, its 60 homes were offered for sale at prices that ranged from affordable to market rate — and a partnership of private, public, and nonprofit agencies celebrated the success. “City’s Edge is a great example of creating neighborhoods, not developing projects,” said State Senator Jim Condos, who chairs the South Burlington City Council. “This also represents another step forward for the City of South Burlington, by significantly increasing the supply of high-quality housing, to put a real dent in the regional housing crisis.” Working together with the Burlington Community Land Trust and private developers, the city played a leadership role in the 8.7 million project. VHCB funding combined with loans from the Vermont Housing Finance Agency, funds from the Vermont Community Development Program, and a contribution from the Neighborhood Reinvestment Corporation. “These homes are located near the heart of a vibrant mixed-use commercial area, with excellent proximity to good schools, convenient shopping, and public trans- Walum Awotho and Lossi Budju with their children, Bob, Glory and Faith, are among 60 proud new homeowners at City’s Edge. Owners were able to use grants of $20-45,000 from the American Dream Downpayment Initiative to assist with downpayments and closing costs. Contractors Eric Farrel and Danny Morrisey contributed a $220,000 grant towards the building's brick façade. The homes sold for $115,500-$165,900.
portation,” said Brenda Torpy, director of Burlington Community Land Trust (BCLT). Purchase prices ranged from 115,500 for a 670 square-foot home to 165,900 for a 1,110 square-foot, marketrate home. For one family that became homeowners for the first time here, City’s Edge became the end point of an exceptionally long journey. Walum Awotho and Lossi Budju are natives of the Congo; they moved to Madagascar several years ago so that Walum could attend medical school. While he was studying, war erupted in the Congo, and the couple could not return home. Applying for refugee status, the couple and their children were sent to the United States. In 2002 they moved to Barre, then relocated to Burlington as Walum searched for work, and found it. In a cramped Essex Junction apartment, the family saw much of their income going for rent. Searching for reliable information on buying a home, Walum discovered the BCLT NeighborWorks® HomeOwnership Center. “Walum and Lossi attended an orientation and a home buyer workshop, and studied the workbook provided by BCLT using both an English and a French dictionary,” says Karolyn Phillips, an AmeriCorps member who served as the HomeOwnership Center’s education and outreach coordinator. “They saved money and worked hard for two years, to rebuild their lives from the ground up . . . Now they are homeowners, and tell friends about BCLT.” “It is easy if you have good credit history, are honest, and pay bills,” says Walum. “BCLT is helpful — and a very, very good thing.” “Walum and Lossi attended an orientation and a home buyer workshop, and studied the workbook provided by BCLT. . . They saved money and worked hard for two years, to rebuild their lives from the ground up . . . Now they are homeowners, and tell friends about BCLT.” — Karolyn Phillips, AmeriCorps Member with the Burlington NeighborWorks ® HomeOwnership Center When the NeighborWorks ® Homeownership Center in Burlington marketed City's Edge last year, 31 affordable condominiums in the 60- unit development sold within weeks of coming on the market. The fi rst resale showed that the homes had increased in value by more than $30,000 in less than 60 days. City's Edge is adjacent to O'Dell Apartments, a 160-unit development with 130 affordable homes off the Shelburne Road completed in 2003. 19
Page 1 and 2: 2005 Annual Report to the General A
Page 3 and 4: james h. douglas governor State of
Page 5 and 6: statutory mandates that require per
Page 7 and 8: in the marketplace, and for homes b
Page 9 and 10: documents. But an applicant’s ent
Page 11 and 12: the 1906-vintage edifice stands out
Page 13 and 14: Bob Eddy photos Laurie Webster, who
Page 15 and 16: “These are people who are very en
Page 17 and 18: HABITAT FOR HUMANITY Hard-Earned Ho
Page 19: “Owning a home isn’t just luck.
Page 23 and 24: So Jon and Lise Yandow, whose seven
Page 25 and 26: Addison Vermont Land Trust photos a
Page 27 and 28: “Watching the O’Connell family
Page 29 and 30: Bob Eddy “Farming is such a labor
Page 31 and 32: This joins a mix of new and retrofi
Page 33 and 34: CROSS VERMONT TRAIL A Trail to Conn
Page 35 and 36: Liz Thompson/The Nature Conservancy
Page 37 and 38: HISTORIC PRESERVATION A New Role fo
Page 39 and 40: Bob Eddy photos England what became
Page 41 and 42: VERMONT COMMUNITY STEWARDSHIP PROGR
Page 43 and 44: VERMONT LEAD-BASED PAINT HAZARD RED
Page 45 and 46: Housing Awards July 2004 -June 2005
Page 47 and 48: Housing Awards July -December 2005
Page 49 and 50: Conservation Awards July 2004 -June
Page 51 and 52: Conservation Awards July 2004 -June
Page 53 and 54: Conservation Awards July -December
Page 55 and 56: Partners in Project Development Jan
Page 61 and 62: Revenues $22,486,033 Interest Incom
Page 63 and 64: PROJECT AWARDS BY COUNTY 1987-2005

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