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AFL-CIO Housing Investment Trust pitches union-built financing to Vermont committee
Summary
AFL-CIO Housing Investment Trust officials told the House Housing in General committee that HIT can provide construction and permanent financing for union-built affordable housing if Vermont sets labor standards or dedicates subsidy pools; officials cited $7.3 billion in HIT capital and examples from Nevada and Connecticut.
JP Isabel, executive director (state contact) for the AFL-CIO, and Eric Forman, director of housing policy for the AFL-CIO Housing Investment Trust (HIT), presented to the House Committee on Housing in General on Feb. 12, describing HIT’s financing model and how it might be used in Vermont.
Eric Forman said HIT is a "$7,300,000,000 social impact mutual fund" that invests union pension dollars in housing built with union‑represented labor and that HIT’s track record includes tens of billions in invested capital and projects nationwide. Forman outlined the fund’s…
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