08.26.09

Vermont Delegation Announces $1.4 Million In Recovery Funds For Affordable Housing In Franklin County

WASHINGTON -- U.S. Senator Patrick Leahy (D-Vt.), U.S. Senator Bernie Sanders (I-Vt.), and U.S. Representative Peter Welch (D-Vt.) on Wednesday announced $1.4 million in funding to the Vermont Housing Finance Agency (VHFA) to spur development of affordable housing in Vermont.
 
The VHFA plans to use the grant, made possible by the American Recovery and Reinvestment Act (ARRA), to provide sufficient equity funding to develop Blake Commons, a 16-unit, multi-family, affordable housing project in Swanton. Blake Commons is being developed in partnership with Housing Vermont and Champlain Housing Trust and will provide homes to families earning 50-60 percent of the area median income.
 
The project is based on the site of a former commercial meat-packing plant and is adjacent to the town recreation fields and the soon-to-be-developed Swanton Rail Trail. It will meet VHFA’s Green Building Standards to achieve a high level of energy efficiency and will meet the state’s objectives for in-fill development and smart growth principals. Construction is scheduled to begin in September.
 
The funding for Vermont is part of $309 million in ARRA funding to seven states announced by the Treasury Wednesday.

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