From Vermont Department of Housing and Community Development: The current VHIP program is funded through the federal American Rescue Plan Act (ARPA) and these funds are almost fully obligated. And, the State of Vermont has allocated approximately $20 Million to launch VHIP 2.0. To make this transition smoother for the homeownership centers who administer the program and for applicants, the State is pausing the VHIP program on Friday, February 16, 2024 and launching VHIP 2.0 on Monday, March 25, 2024.
VHIP 2.0 will include exciting new changes that will make the program an even better tool to help alleviate the current housing crisis and homelessness, including an option for a 0%, 10-year forgivable loan, new construction, and more robust code compliance assistance. Stay tuned for more information as we get closer to March 25, 2024! You can contact the Department of Housing and Community Development at ACCD.VHIP@vermont.gov for more information.
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VHIP In the Windham & Windsor region has already had to pause application intake because of the level of interest in the program. We are following up with the applications we had and have a list of interested parties that have been notified of our status at this point. We’re looking forward to sharing more about VHIP 2.0 once more of the guidance has been specified. For now, if you are interested in participating in the program, starting with getting your permits, estimates, and a contractor lined up puts you in the best position for hitting the ground running once applications open this spring.
