Low-Income Housing Tax Credits & Opportunity Housing in Vermont, 2018

Vermont's 2018 QAP prioritizes opportunity housing developments. 

Opportunity

The Vermont Consolidated Plan highlights three guiding principles of which one is;

• Promoting development

in State designated downtowns, village centers, neighborhood development areas and other areas that are consistent with the state’s historic settlement pattern and ‘Smart Growth.’

The Vermont Consolidated Plan’s priorities also says that “the state will support affirmatively furthering fair housing by supporting fair housing education and anti-discrimination activities, and encouraging affordable housing projects which are located in areas of opportunity, with low concentrations of racial or ethnic minorities and low concentrations of poverty, or if not located in such areas, by contributing to the revitalization of a disinvested community, or helping prevent displacement of residents living in neighborhoods on the verge of or already undergoing gentrification."

For projects under 20 units, no mixed-income requirement; projects of 20 – 49 units, 5% of the units must be market rate; projects 50 units or over, 10% of the units must be market rate. Market rate units are targeted to households whose income is greater than 60% of the Area Median Gross Income (AMGI).

Projects that are in a Downtown, a Village Center or Neighborhood Development Area will receive five checkmarks; projects that support Downtowns or Village Centers or Neighborhood Development Areas by virtue of their location (i.e. that are within a reasonable walking distance from these areas) will receive four checkmarks. A map outlining the Downtown / Village Center / Neighborhood Development Area and the location of the project must be included with the application. Projects located in a Dense Infill Site will receive two checkmarks.

Projects that are in a town that has market need and demand but has no affordable housing of the type proposed will receive one checkmark.

Contributed By: 
National Housing Trust

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