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VHCB outlines cost drivers: labor, materials, historic reviews and permitting slow projects
Summary
Board staff told the committee that rising materials and labor costs, elevator delays, historic-preservation requirements and permitting appeals are major drivers of higher development costs and proposed several policy and administrative reforms to lower costs.
Vermont Housing & Conservation Board presenters told the Senate Economic Development, Housing & General Affairs Committee that multiple factors are driving up the cost of building affordable housing and that some can be addressed through policy or administrative changes.
The issue matters because rising construction costs reduce the number of units that state funding can produce or preserve and raise the per‑unit subsidy required to complete projects.
Board presenters listed the main cost drivers they see: higher material costs and inflation since…
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