VERMONT HOUSING & CONSERVATION BOARD Celebrates 20 Years of Investing in Vermont The pace and pattern of development in Vermont in the mid-1980’s was threatening historic settlement patterns and the rural character of the state. Housing prices were rapidly rising beyond the reach of Vermonters, development pressure on the state’s valuable agricultural and natural lands was escalating at a record pace, and historic properties and downtowns were being abandoned as growth increasingly occurred outside of town centers. In 1986, a coalition of affordable housing, conservation, and historic preservation advocates concerned with this rapid change in the character of the Vermont landscape approached the state legislature with a plan to form a unique agency to review and fund projects addressing a range of community needs. The Legislature responded, passing the Vermont Housing and Conservation Trust Fund Act, which was signed into law by Governor Madeleine Kunin on June 11, 1987. In 1988, upon the recommendation of the Governor’s Commission on Vermont’s Future, the Legislature appropriated $20 million of the budget surplus to the Vermont Housing and Conservation Board (VHCB). The Board was up and running, and momentum was building. VHCB funds brought new conservation funds to the table to protect Vermont’s agricultural lands, natural areas and historic public buildings and closed a critical gap in the financing of affordable housing projects.
With nonprofit organizations and municipalities working at the local level to identify and develop affordable housing and conservation projects in each community, the effects of VHCB investments are discernible in every part of the state. VHCB works in cooperation with agencies such as the Vermont Housing Finance Agency, the Agency of Natural Resources, the Agency of Agriculture, Food & Markets and the Department of Housing and Community Affairs to coordinate resources and services. The legacy of VHCB investments is permanently affordable housing and the conservation of Vermont’s finest farmland, forestland and water resources. Preserving the landscape that is such an integral part of the state’s identity supports the agricultural economy, protects wildlife habitat and provides public access for recreation. Reinvestment in older housing in town and village centers, revitalization of downtown neighborhoods, the creation of town parks and the restoration of historic public buildings rebuilds a sense of community while spurring other private investment. New construction projects have added to the state’s stock of affordable housing and replaced downtown buildings destroyed by fire. Today, celebrating its 20th anniversary, VHCB remains a forerunner nationally in pioneering this comprehensive approach to affordable housing and community development linked with land conservation and historic preservation. With annual appropriations in the range of $10-$14 million, VHCB investments will continue to provide a catalytic effect on our communities, as envisioned in the enabling statute:  “In the best interests of all of its citizens and in order to improve the quality of life for Vermonters and to maintain for the benefit of future generations the essential characteristics of the Vermont countryside, Vermont should encourage and assist in creating affordable housing and in preserving the state’s agricultural land, historic properties, important natural areas and recreational lands.” –10 VSA Chapter 15 The Vermont Housing & Conservation Board makes loans and grants to nonprofit housing and conservation organizations, municipalities and state agencies. Its 20-year record includes: ·       $200 million in loans and grants ·       more than 1200 projects in 220 towns ·       $750 million leveraged from private and public sources ·       8,500 units of affordable  housing preserved & created ·       427 farms & 118,500 acres of agricultural land conserved ·       250,000 acres of recreation lands and natural areas conserved ·       Historic community buildings restored for public use