Vermont housing officials tell Hawaii appropriations panel continued state subsidy, tax credits and federal leverage are critical to preserve affordable homes

Vermont Housing and Conservation Board officials told the Hawaii Legislature’s Appropriations Committee on Feb. 18, 2026, that sustained state subsidy and federal leverage are central to preserving affordable housing, expanding shelter capacity and advancing conservation projects across Vermont.

Gus Selig, VHCB’s executive director, and Paulie Majer, the agency’s director of policy and special projects, outlined how the board combines housing and conservation work and recommended the committee support the governor’s FY27 proposal to fully allocate transfer‑tax revenue to VHCB. Selig said the Clean Water Board had also recommended $2,800,000 for conservation activities tied to water quality work.

Why it matters: VHCB said state subsidy routed through the board acts as the scarce, catalytic capital that attracts federal funds, tax‑credit equity and private investment. Without that steady base of funding, presenters warned, developers are less likely to commit to predevelopment work and projects can stall.

Selig offered examples of recent and pipeline projects that illustrate the agency’s dual mission. He described a Saint…