Michael Monte, CEO of Champlain Housing Trust, told the committee that nonprofit developers across Vermont rely heavily on state investment — notably VHCB and tax credits — and cautioned that current funding levels risk a significant production decline if not replenished.

Monte described a recent coalition of nonprofit developers that agreed on five shared priorities, with VHCB funding and the Vermont affordable housing tax credit near the top. He said the state’s pipeline benefited from large investments during and after COVID, but without continued support the level of completed projects will decline.

"We're gonna be trailing off in a significant way, and we're not gonna be able to meet the needs of the community," Monte said, summarizing a funding graph he provided to the committee that shows investment peaks in recent years and a projected drop if VHCB funding is not reinforced.

Other points: Monte highlighted rising labor and material costs and recommended measuring cost per person served rather than cost per unit because many nonprofit projects build larger family‑sized units. He urged practical changes on landlord‑tenant safety and eviction timelines to allow property owners and managers — including nonprofits — to address unsafe situations more quickly while preserving tenant protections such as just‑cause eviction standards.

On homelessness prevention, Monte reiterated that voucher support is essential for very low‑income households and urged oversight to ensure vouchers and rental supports remain available and usable.

Next steps

Monte said CHT has shared documentation and a funding graph with the committee and will continue to engage as budget and policy proposals move forward. The committee did not vote on proposals during the hearing.