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Treasurer's Office Proposes Expanding LIAC to Back an Off‑site Housing Accelerator; Senators Ask About Risk
Summary
Treasurer's staff briefed the committee on proposals to increase the state's LIAC lending cap and create a small 1% credit facility to support bulk purchasing or pilot off‑site (modular) housing projects; senators voiced concern about added risk and asked for modeling details.
Peter Trombley of the treasurer's office described the state Local Investment Advisory Committee (LIAC) program and three proposed changes to support an off‑site housing accelerator pilot.
"A brief refresher on what the 10% of Vermont program is," Trombley said, explaining LIAC allows the treasurer to invest a percentage of state cash holdings in longer‑term loans that are repaid to the state. He said LIAC has enabled roughly $120 million in housing loans to date and has supported about 1,700 units across the state.
Trombley outlined…
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