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NO. R-140. JOINT RESOLUTION CONGRATULATING THE VERMONT HOUSING AND FINANCE AGENCY ON ITS 25TH ANNIVERSARY.

(J.R.S. 57)

Offered by: Senator Doyle of Washington County and Senator Bartlett of Lamoille County.

Whereas, the Vermont Housing and Finance Agency (VHFA) was established in 1974 to finance and promote affordable, safe and decent housing opportunities for low and moderate income Vermonters, and

Whereas, VHFA obtains its funding through several sources, including the sale of both tax-exempt and taxable bonds, the agency's reserves and the state and federal governments, and

Whereas, VHFA has provided home ownership assistance to over 21,000 Vermonters, and

Whereas, VHFA has financed the construction of 44,168 affordable rental residential units for low and moderate income Vermonters, and

Whereas, VHFA is the federal Department of Housing and Urban Development's contract administrator for 21 Section 8 rental properties for persons with limited financial resources, and

Whereas, VHFA administers the low income housing tax credit program in Vermont and was instrumental in creating Housing Vermont, one of the first nonprofit organizations in the United States to sponsor an equity fund for utilizing housing tax credits, and

Whereas, VHFA has been a primary participant in promoting residential energy conservation through its support of the Vermont Energy Investment Corporation and Energy Rated Homes of Vermont, and

Whereas, the innovative ideas and diligent efforts of the VHFA staff have enabled thousands of Vermonters to live in affordable housing and, in many instances, to become homeowners, a dream that would otherwise never have been fulfilled, now therefore be it

Resolved by the Senate and House of Representatives:

That the General Assembly congratulates the Vermont Housing and Finance Agency on its 25th anniversary and for the important contribution that the organization has made to providing housing opportunities for Vermonters.