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VIDA seeks statutory authority to join lenders on multi‑unit housing projects
Summary
Joan Goldstein, executive director of the Vermont Economic Development Authority (VIDA), asked the House committee to let VIDA participate more frequently in multi‑unit housing lending, saying VIDA can leverage partner banks and ARPA-funded capital to offer lower rates; she noted current statute prohibits direct housing lending and pointed to a drafted bill under consideration.
Joan Goldstein, executive director of the Vermont Economic Development Authority (VIDA), told the House committee that VIDA wants the ability to participate more often in multi‑unit housing finance to expand lender capacity and move projects that currently don’t pencil.
Goldstein said VIDA has been operating since 1974 with a roughly $285,000,000 loan portfolio. “We borrow money in the interbank market… We don’t take deposits, so we’re not doing retail,” she said, describing VIDA as a wholesale lender…
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