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House committee reviews draft changes to Vermont Rental Housing Improvement Program
Summary
Legislative counsel walked the House Committee on General and Housing through a preliminary committee-bill draft that would change the structure and eligibility of the Vermont Rental Housing Improvement Program, including removing a five-year forgivable loan option and adjusting per-unit funding limits.
The House Committee on General and Housing reviewed a preliminary draft committee bill on Feb. 19 that would change how the Vermont Rental Housing Improvement Program (VHIP) provides funds to bring rental units online, legislative counsel Cameron Wood said.
The draft request (25-0838) replaces the program's current mix of grants and two forgivable-loan terms by eliminating the five-year forgivable loan and keeping only grants and 10-year forgivable loans, Wood said. The draft also changes maximum per-unit assistance from $70,000 under current language to a $50,000 cap per unit with an additional up to $20,000 available specifically for bringing a unit to Vermont access standards.
That $20,000 accessibility increment would be available only after a project…
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