Governor Douglas Announces $662,000 in Community Development Grants

Governor Douglas Announces $662,000 in Community Development Grants

Funds Will Help Rebuild Montpelier Senior Center Damaged By Fire

Montpelier, VT. – November 24, 2010 – (RealEstateRama) — Governor Jim Douglas today announced nearly $600,000 to help repair the fire-damaged building that houses Montpelier’s senior center, as well as to help develop 14 senior apartments on the site. That was one of several Vermont Community Development Program grants announced, which also included funds for two affordable housing groups to merge their operations.

During a ceremony at the 58 Barre Street structure, the Governor presented town officials with a check for $588,500 that will be used to help refurbish the building, which was heavily damaged in a December 2009 fire. “As Vermont’s senior population continues to grow, senior housing and programs like the Montpelier Senior Activity Center are critical to keeping older residents in their communities,” Governor Douglas said. “This keeps them close to family, friends, services and support systems that can allow them to remain independent and active.”

The money will be used both to help rebuild the city’s Senior Activity Center and to develop 14 one-bedroom apartments for residents 62 and over and/or the disabled, a project that will be undertaken by a limited partnership that will include the Capital City Housing Foundation, Inc.

“The city is delighted that this project is moving forward,” said Montpelier Mayor Mary Hooper. “These state funds help address two important community needs – additional housing and a renovated senior center. We appreciate the work of the partnership and the state in assembling a great financing package in such a short time period.”

The Governor also announced two $30,000 grants to the towns of Springfield and Putney which will be used by the Rockingham Area Community Land Trust and Windham Housing Trust respectively to help pay for a merger of the two non-profit affordable housing providers, resulting in a more efficient use of funds.

“This is an exciting step toward making the state’s non-profit affordable housing delivery system more efficient and accountable,” Governor Douglas said, noting a recent study had recommended consolidating the largest statewide affordable housing groups. “The less money that is spent on duplicated overhead, the more available to build homes for needy Vermonters.”

Finally, Vershire will receive a $14,178 grant to make accessibility alterations to the Vershire Town Center Building and bring it into full compliance the federal Americans With Disabilities Act.

“Grants like this are important because they leverage other financial resources and help address critical needs in our communities,” the Governor said. “The $662,000 we are awarding will leverage more than $4.7 million in other funds from private and public sources.”

The Vermont Community Development Program (VCDP) money comes from the approximately $7 million Vermont receives annually in Community Development Block Grant (CDBG) funds from the U.S. Department of Housing and Urban Development (HUD), which must be used principally to benefit persons of low and moderate income.

The state awards the competitive grants based on recommendations of the Vermont Community Development Board and approval of Commerce and Community Development Secretary Kevin Dorn.

For information about the Vermont Community Development Program, please see the Agency of Commerce and Community Development website at: http://www.dhca.state.vt.us/VCDP/index.htm

November VCDP Grants

Applicant-Grant Amount-Other Resources-Brief Description

Vershire – Grant Amount: $14,178 Other Resources: $14,178 Description: Grant to provide accessibility to the Vershire Town Center Building and bring it into full ADA compliance with state and federal regulations.

Putney – Grant Amount: $30,000 Other Resources: $225,000 Description: Subgrant to Windham Housing Trust to assist with the merger with the Rockingham Area Community Land Trust to allow a more efficient and effective affordable housing delivery system.

Springfield – Grant Amount: $30,000 Other Resources: $225,000 Description: Subgrant to Rockingham Area Community Land Trust to assist with the merger with the Windham Housing Trust to allow a more efficient and effective affordable housing delivery system.

Montpelier City – Grant Amount: $588,500 Other Resources: $4,259,200 Description: Redevelopment of a former school at 58 Barre St. into two condominium units with the city owning the Senior Activity Center and subgranting funds to the second owner, a limited partnership to include the Capital City Housing Foundation, Inc to develop 14 one bedroom apartments for seniors aged 62 and over and/or the disabled.

Total Grant Amount -$662,678

Total Other Resources -$4,723,378

Contact:
David Coriell (802) 828-3333

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