Affordable‑housing nonprofits and VHFA programs seek larger FY26 appropriations

Kim Fitzgerald, CEO of Cathedral Square, told legislators her organization serves more than 1,300 residents in Chittenden, Franklin and Grand Isle counties and is seeking sustained state support for permanently affordable housing. "We cannot thank you enough for your generous support of permanently affordable housing," Fitzgerald said, and added Cathedral Square needs more funding to meet long wait lists and complete projects under development.

Fitzgerald described Reid Commons in St. Albans — a 33‑unit property with more than 80 people already on its wait list prior to opening — as an example of unmet demand. "When we open new age‑specific housing like Reid Commons, it's a win‑win situation," she said, noting that such projects also free single‑family homes for families.

Vermont Businesses for Social Responsibility also asked the committee to fully fund Vermont Housing Finance Agency programs, including the low‑income homeownership development program and the rental revolving loan fund. Testimony cited VHFA statistics from 2023 showing $24 million deployed to subsidize 125 homes and requested an additional $15 million for the rental revolving loan fund to create rental units for middle‑income households.

Nut graf: Nonprofit developers and business groups testified that state investment in VHCB, VHFA and related programs is necessary to address long wait lists and to sustain both homeownership and rental production in Vermont.

The witnesses urged continued base funding and additional one‑time and base investments in VHCB/VHFA programs so projects in the pipeline can be completed and operationally sustained.