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Committee hears clarifications on VHIP: eligibility, reimbursement and loan forgiveness terms
Summary
Legislative counsel and housing partners explained changes to the Vermont Housing Investment Program in S.127, including who eligible landlords must lease to, whether the program pays upfront or reimburses, and changes to rent and forgiveness terms for 5‑ and 10‑year forgivable loans.
Committee members sought clarifications on the Vermont Housing Investment Program (VHIP) provisions in S.127, which incorporate elements from both House and Senate housing bills and would continue a mixture of grants and forgivable loans tied to required tenant populations.
Cameron Wood, Office of Legislative Counsel, explained the VHIP draft language and noted the House General Committee incorporated a Senate change adding people displaced by natural disaster to the list of populations landlords must serve when…
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