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Vermont Bond Bank outlines uses for Sustainable Infrastructure Fund to support housing-linked water and road projects
Summary
Michael Gaughn, executive director of the Vermont Bond Bank, told the Vermont Senate Appropriations Committee on March 18 that the bank proposes using a Vermont Sustainable Infrastructure Fund to help small communities afford infrastructure needed for housing development.
Michael Gaughn, executive director of the Vermont Bond Bank, told the Vermont Senate Appropriations Committee on March 18 that the bank proposes using a Vermont Sustainable Infrastructure Fund to help small communities afford infrastructure needed for housing development.
Gaughn said the governor’s original budget recommendation for the fund was $9.1 million and that a draft of related legislation he had seen increased that figure to $15 million. “I recently saw a draft of the related legislation that had this at 15,000,000, and certainly were supportive,” he said.
Gaughn outlined three ways the bond bank would deploy the fund. First, the bank would make direct loans at a target rate of 1 percent to smaller projects —…
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