Representative Brian Sheena introduces Vermont's Land Access and Opportunity Revolving Fund bill

The House Committee on General and Housing convened on April 2, 2025, to introduce two significant bills aimed at addressing housing issues in Vermont. The first bill, H-445, focuses on creating a Land Access and Opportunity Revolving Fund, which aims to enhance the state's capacity to develop and maintain affordable housing.

Representative Brian Sheena, one of the sponsors of the bill, presented the proposal, emphasizing the need for a holistic approach to the housing crisis. He expressed frustration with the bill's title, which he felt did not accurately reflect its intent. The bill is designed to support the human right to housing and promote public health and community safety, particularly in the wake of the COVID-19 pandemic and other crises.

Sheena highlighted several challenges currently facing housing development, including regulatory barriers, workforce shortages, and supply chain issues. He proposed a funding mechanism that includes an income tax surcharge on high earners, similar to measures taken during past financial crises. This surcharge could generate significant revenue, which would be reinvested into the community over five years.

The bill outlines various projects that the Land Access and Opportunity Board (LAOB) could support, such as purchasing buildings for owner-occupied affordable housing, renovating multi-unit housing, and developing transitional housing for historically marginalized communities. Sheena stressed the importance of collective ownership, arguing that when individuals have a stake in their housing, they are more likely to care for and maintain it.

While the bill is unlikely to pass this legislative session, Sheena encouraged committee members to consider integrating its ideas into other housing legislation currently under discussion. The meeting underscored the ongoing efforts in Vermont to tackle the housing crisis through innovative funding and community-driven solutions.