VHFA urges flexibility, middle‑income program consolidation and continuation of first‑generation homebuyer grants

Laura Collins, executive director of the Vermont Housing Finance Agency, testified April 2 that state support remains essential to leverage federal tax credits and to preserve multiple housing programs the agency administers. Collins asked the committee for statutory and funding flexibility to deploy programs efficiently and to avoid losing federal tax credit opportunities.

Collins reviewed several items in the House budget text. She said the GovRec included $15,000,000 for two middle‑income programs — a homeownership program and a middle‑income rental program — but the House reduced the homeownership program to $10,000,000 and the rental program to $7,500,000. Collins recommended a contingency or “waterfall” approach (as used in prior budgets) that would allow VHFA to open one program if only a smaller sum were available, rather than opening…