Tax credits to help with developing affordable Vt. housing

BURLINGTON, Vt. (WCAX) Vermont officials say an annual allocation of federal and state housing tax credits will support the development of more than 200 permanently affordable apartments in nine communities.

The Vermont Housing Finance Agency Board of Commissioners says low- and moderate-income Vermont renters will benefit from a 12.5% increase in Vermont's annual allocation enacted by Congress last year.

The board also approved $22 million in VHFA permanent and construction loans.

Housing tax credits are the single largest source of funding for the development of affordable rental housing in Vermont.

Click here for details, including the developments awarded the federal tax credits.