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Senator from Windsor lays out sweeping housing package; Senate advances key provisions
Summary
S.328 would embed town housing targets into municipal plans, extend VHFA down‑payment assistance through 2031, raise VHFA tax credit caps, and expand the treasurer's lending authority to unlock roughly $30 million in low‑cost housing financing; the Senate accepted committee amendments and ordered the bill to third reading.
The Senate took up S.328 on March 25, an extensive housing package the Economic Development committee shepherded onto the floor. The senator from Windsor outlined measures intended to increase housing production by combining regulatory changes with financing tools.
The bill would require towns to embed recently developed housing targets into their town plans and to analyze regulatory and physical constraints preventing attainment of those targets. It would extend the Vermont Housing Finance Agency's down‑payment assistance program through 2031, increase annual tax credits tied to the program (floor presentation cited an increase from $250,000 to $350,000), and raise the maximum interest‑free loan to $10,000 to help first‑time and…
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