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CVRPC liaison reports passage of CHIF, potential bond tool for local housing infrastructure
Summary
Vice Chair Andrew McNealus reported that the legislature passed the Community Housing Infrastructure Program (CHIF), which allows local authorities to issue bonds repaid from future tax revenues and is smaller in scale than a TIF.
Vice Chair Andrew McNealus, reporting out of his CVRPC liaison duties, told the commission that the legislature passed the Community Housing Infrastructure Program (CHIF) this year. According to Andrew’s report, CHIF would allow local authorities to issue a bond and repay it with future tax revenues; he noted in the meeting record that the program is smaller in scope than a traditional Tax Increment Financing (TIF) arrangement.
McNealus said the CVRPC update also included a Vermont League of Cities and Towns briefing. The CHIF program may provide one financing tool for housing infrastructure projects in the region, though the commission did not take any action on funding at this meeting.
