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Sponsors introduce multi‑part housing bill (S.775) to expand financing tools, modular housing pilot and treasurer loan authority
Summary
Senators introduced S.775, a multi‑element housing bill that would authorize revenue bonds limited to assessment revenues, create a modular and offsite housing bulk‑purchase pilot with a treasurer credit facility, expand treasurer loan authority from 10% to 12.5% for affordable housing lending, and allow VHIP front funding and VEDA multi‑family financing; Ways and Means has simplified municipal reporting and removed a proposed special interest fund.
Senators and staff presented S.775 as a financing‑toolkit bill designed to improve housing finance options, particularly for small or rural Vermont projects that struggle to make modest developments pencil.
Sponsor remarks summarized six principal elements: permission for revenue (special assessment) bonds that do not pledge a town's full faith and credit (so bond approval would rely on property owner consent rather than a townwide bond vote); a modular/manufactured housing accelerator and bulk‑purchase program to aggregate small local orders; a treasurer credit backstop (a 1% credit facility within an expanded cap) to encourage…
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