Vergennes Community Housing receives funding awards to move forward, ACCT holds its Annual Meeting, and staff get muddy on Green Up Day!
It's been a busy spring at ACCT. In development news, Vergennes Community Housing received two major funding awards that will allow it to break ground later this year and open in 2020. In early April, the Vermont Community Development Program awarded $400,000 to the City of Vergennes to be put toward the project. Several weeks later, Vermont Housing Finance Agency made Vergennes Community Housing a Low-Income Housing Tax Credit award that will result in over $4 million in equity for the project. These awards build on funding of over $2 million already allocated by the Vermont Housing and Conservation Board, including Housing Revenue Bond funds that will allow for the creation of seven market-rate units serving households making up to 120% of Area Median Income (AMI), in addition to the 17 apartments for households making less than 60% of AMI.
Vergennes Community Housing will bring much-needed affordable housing to downtown Vergennes, which has a 0% vacancy rate and average rents of around $1200 according to Craigslist data. For more details on the project, check out this Info Sheet.
Annual Meeting: ACCT held its Annual Meeting on April 30th at the Middlebury Inn. The Board elected new and returning members, and a presentation of the 2018 Annual Report was made.
ACCT Greens Up: ACCT celebrated Green Up Day on Friday, May 10, despite the rain. Intrepid staff members groomed the parking lot and cleaned up the landscaping around our office, while a small team was dispatched to 14 S Maple St to build raised bed community gardens for the residents.
Upcoming Events: For those who want to join in our efforts, we have a couple of events open to the public this summer:
Addison Housing Works staff members share news and information about upcoming events.