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Witnesses ask committee to preserve precise VHFA financing carveouts in S.328
Summary
Joan Goldstein and lenders urged the committee to keep more detailed financing language tied to the Vermont Housing Finance Agency to avoid unintentionally blocking mixed‑use financing or normal VHFA activity; Goldstein offered to send preferred drafting examples.
Joan Goldstein told the committee she and VHFA staff had crafted specific language for S.328 to prevent the bill from unintentionally precluding financing arrangements that involve VHFA for the housing portion of mixed‑use projects.
Goldstein read the intended carveout and said the earlier text limited the study or prohibition too broadly after crossover edits. She asked the committee to accept a more specific sentence that would exempt VHFA financing for low‑ and moderate‑income occupancy and projects using federal or state low‑income housing tax credits or other VHFA financing products. Goldstein asked to submit the agreed language and a short explanation of project types that could be excluded under the simplified draft.
Members asked clarifying questions and Chair Holly asked Goldstein to send preferred language to committee staff (Miriam) and to coordinate with House Commerce and legislative counterparts. Goldstein said she and VHFA's Mora Collins had coordinated earlier in the session and would provide the committee with the exact phrasing and brief examples of mixed‑use financing that might be affected.
The committee did not adopt language during the hearing; members signaled they would review Goldstein's suggested text ahead of further consideration of S.328.
