Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
VHFA: efficiency upgrades raise upfront costs for very low‑income housing; more targeted incentives needed
Summary
Mia Watson of the Vermont Housing Finance Agency told the Natural Resources & Energy Committee on Feb. 7 that energy‑efficiency and electrification increase upfront costs for subsidized affordable housing and that current incentives cover only a small portion of those costs.
Mia Watson, social programs manager at the Vermont Housing Finance Agency (VHFA), told the Natural Resources & Energy Committee on Feb. 7 that efficiency and electrification measures are increasing upfront development costs for subsidized affordable housing and that current energy incentives cover a small share of those costs.
Watson said Vermont faces a housing supply crisis and rising project costs: developers’ average project costs have risen roughly 40% over five years. VHFA underwrites projects that must “pencil out” over a 30‑year operating horizon using restricted rents and limited subsidy resources. She said many low‑income rental units are deeply income‑targeted: median household income for Low‑Income Housing Tax Credit (LIHTC) units in VHFA’s most recent data is…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
