Examples of CHT’s program development choices in response to local

contexts

Community Community assetasset or or barrierbarrier

CHT program/strategy CHT program/strategy choicechoice

Sprawl Sprawl development development patternspatterns

Expansion to tri-county service Expansion to tri-county service areaarea

Smart growth principles guide Smart growth principles guide developmentdevelopment

Buyer-driven scattered site Buyer-driven scattered site acquisition acquisition

High costs High costs (housing, land, (housing, land, development)development)

State property transfer tax funds State property transfer tax funds (VHCB)(VHCB)

Development feesDevelopment fees

Mixed-income developmentMixed-income development

NIMBYismNIMBYism Tri-partite boardTri-partite board

Annual community campaignAnnual community campaign

Emphasis on simplicity (resale Emphasis on simplicity (resale formula, legal documents)formula, legal documents)

Resident involvementResident involvement

Community Community assetasset or or barrierbarrier

CHT program/strategy CHT program/strategy choicechoice

Disinvested Disinvested (and (and gentrifying) gentrifying) core City core City neighborhoodneighborhood

Commercial and mixed-use Commercial and mixed-use development development

Brownfield developmentBrownfield development

Rehabilitation of multi-family Rehabilitation of multi-family buildingsbuildings

Diverse Diverse housing tenure housing tenure needsneeds

Rental and co-op development and Rental and co-op development and managementmanagement

Condominium development and use Condominium development and use of deed restrictionsof deed restrictions

Dilapidated Dilapidated housing stockhousing stock

New construction developmentNew construction development

Rehab loansRehab loans

Stewardship fund Stewardship fund

Capital improvement creditCapital improvement credit

Community Community assetasset or or barrierbarrier

CHT program/strategy CHT program/strategy choicechoice

Educational Educational needs of buyersneeds of buyers

Development Development riskrisk

NeighborWorks HOCNeighborWorks HOC

Buyers have more support and Buyers have more support and

CHT has steady stream of CHT has steady stream of prepared buyersprepared buyers

Rising Rising foreclosure foreclosure rates & rates & prevalence of prevalence of sub-prime & sub-prime & predatory predatory lendinglending

NeighborWorks HOC post-purchase NeighborWorks HOC post-purchase servicesservices

Needs of lower-Needs of lower-income income purchaserspurchasers

Section 8 Voucher programSection 8 Voucher program

USDA RD loansUSDA RD loans

resale preference for lower income resale preference for lower income purchaserspurchasers

Community Community assetasset or or barrierbarrier

CHT program/strategy CHT program/strategy choicechoice

Legislative Legislative barriers “rule barriers “rule against against perpetuities”perpetuities”

20-year renewable lease20-year renewable lease

State statute sanctioning State statute sanctioning affordability covenantsaffordability covenants

Competition for Competition for scarce public scarce public resourcesresources

Corporate merger with like housing Corporate merger with like housing organizationorganization

Strong City Strong City partnershipspartnerships

Stewardship of affordable IZ units Stewardship of affordable IZ units for City of Burlingtonfor City of Burlington

Increasing interest on the part of Increasing interest on the part of local communities to partner with local communities to partner with CHTCHT

Community Community assetasset or or barrierbarrier

CHT program/strategy CHT program/strategy choicechoice

Strong non-Strong non-profit housing profit housing communitycommunity

Diverse partnershipsDiverse partnershipsHousing VT – non-profit LIHTC Housing VT – non-profit LIHTC syndicatorsyndicator Public Housing AuthoritiesPublic Housing AuthoritiesVermont Housing & Conservation Vermont Housing & Conservation BoardBoardVermont Homeownership InitiativeVermont Homeownership InitiativeNeighborWorks® AmericaNeighborWorks® America

Supportive Supportive Housing Housing Finance Finance AgencyAgency

VHFA HOUSE loan (stepped-rate VHFA HOUSE loan (stepped-rate product for CLT buyers)product for CLT buyers)