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Committee hears housing, rural economic development updates; Act 250 cited as hurdle to new housing
Summary
Witnesses told the Commerce & Economic Development committee that Act 250 is inhibiting new housing development, Vermont Futures Project outlined a population-expansion goal linked to workforce growth, and Rural Economic Development Initiative reported about $22 million in federal grant awards supporting local projects.
The committee received multiple briefings on housing and economic development, including testimony from Summit Properties and the Vermont Futures Project, and updates on rural programs.
Summit Properties and other presenters told the committee that Vermont’s Act 250 is, in practice, constraining new housing development and that median-priced housing is out of reach for many middle- and low-income households. The Vermont Futures Project presented a population-expansion goal (an estimate discussed was reaching over 802,000 Vermonters by 2035) and linked that objective to the need for a substantially larger workforce and more housing supply.
Committee members discussed geographic examples such as Rutland, where more than 2,000 offline homes were noted; presenters said local imbalances between jobs and housing availability help explain that discrepancy. The committee also received an update on two rural initiatives: the Farm and Forest Viability Program, a business-development program assisting farmers and towns on conservation and development decisions, and the Rural Economic Development Initiative, which staff said helped secure more than $22,000,000 in federal grants recently for projects including trails, stores and other local improvements.
Committee members also heard a briefing on the HOME Act and Act 181 implementation with stakeholders including the Vermont Natural Resources Council (VNRC) and others; the brief discussion included concern that not all Vermonters want higher-density development and a request that implementation allow local flexibility. The Vermont Bankers Association gave a financing update, identifying inflation, higher interest rates and regulatory uncertainty as barriers to development.
No formal committee action was taken on these briefings; members asked staff to supply documents and links to initiative materials for further review.
