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State treasurer tells Johnson officials Vermont needs 41,000 homes by 2030; suggests infrastructure-first approach
Summary
State Treasurer Mike Pichag told the select board Vermont needs roughly 41,000 homes by 2030 and that the treasury has committed $100 million in low‑interest loans; he urged towns to inventory public land and prioritize infrastructure investments that make sites developable for market, workforce and affordable housing.
State Treasurer Mike Pichag (speaker 9) addressed the Johnson Select Board about statewide housing shortages and local strategies. ‘‘We are about 41,000 homes short by 2030 — that’s about 7,000 homes per year statewide,’’ he said, framing housing shortage as Vermont’s top economic challenge that affects workforce availability, homelessness and health‑care demand.
Pichag described measures the state has taken to support housing, including a $100 million commitment to low‑interest loans for housing capital and additional funding streams for infrastructure. ‘‘One way to answer your question directly… is support infrastructure, because that’s often the difference between a project working or not working,’’ he told board members. He recommended towns inventory public and institutional land (including college holdings) and explore shared‑equity models and partnerships with large landholders.
Local discussion focused on Johnson’s opportunities: board members raised college-owned land and the potential to convert dorms, shared-equity starter units, and tax/current‑use barriers to selling buildable lots. Pichag emphasized infrastructure funding as an agnostic tool that allows different housing types — affordable, workforce or market rate — to be developed on prepared sites.
The treasurer offered to return for follow-up and encouraged towns to contact his office on specific projects and grant opportunities.
