Let’s Build Homes presents 'Housing Infrastructure Initiative' to help finance public works for new housing

Maraud Weinberg, executive chair of the Let’s Build Homes coalition, told a joint hearing of the House Commerce and Economic Development Committee and the House General & Housing Committee on Feb. 13 that the coalition is proposing a Housing Infrastructure Initiative to help pay for public water, sewer, roads, sidewalks and other “horizontal” infrastructure needed for new housing.

Why it matters: Vermont faces a shortfall in housing supply and public infrastructure that supporters say prevents otherwise-feasible housing projects from moving forward. Weinberg cited the state housing finance agency’s five‑year target to build about 30,000 homes from 2025–2029 and said the initiative aims to reduce the upfront infrastructure cost that can render projects infeasible.

The proposal summarized Maraud Weinberg (executive chair, Let’s Build Homes) characterized the idea as narrowly focused on housing. “This is not TIF. It is very different in a number of, I think, important respects,” Weinberg said, distinguishing the proposal from Vermont’s traditional tax increment financing. Under the model presented, a single project — not a broad district — would capture a share of the incremental property tax revenue it generates. David White (president, Weidenberg Real Estate Advisors), who described himself as a volunteer adviser to the coalition, said the proposal would allow up to 80% of new incremental state and local property taxes to be used to service one-time debt for infrastructure and that the capture period would be limited (the presenters described a 20‑year example).

Developers’ example: Stonecrop Meadows, Middlebury Zeke Davison (COO, Summit Properties), described a real‑world project in Middlebury called Stonecrop Meadows (a master‑planned community). Davison said the first 80 units are under construction and that public investments for that phase total about $6 million; he said roughly $30 million of the project’s $52 million budget came from state resources (ARPA, tax credits, VHCB). Davison provided…