Committee debates guardrails for S.127 infrastructure financing to spur workforce housing

The Vermont House Committee on Commerce and Economic Development continued consideration of S.127 on April 24, focusing on guardrails for a proposed public financing tool to fund infrastructure and encourage development of low- and moderate-income housing. Gus Seelig, executive director of the Vermont Housing and Conservation Board, testified in favor of the bill while urging policy language to ensure projects produce mixed-income housing rather than only higher-value homes.

Seelig told the committee that housing costs have risen sharply and that the bill could offer “a new tool that'll help finance infrastructure with the goal of encouraging development of low and moderate income housing.” He cited VHFA data he said showed the average newly built home in Vermont in 2023 cost $615,000 and described local projects the board has funded, including developments in Middlebury…