Where does WHT’s funding for its housing projects come from? Isn’t it mostly from government sources?
You may be surprised to learn that as much as 60% of the funds for a WHT project comes from investors (such as local banks) rather than from state or federal governments. These investors receive a tax credit in exchange for the funding they provide. Since 1987, WHT has raised nearly $60 million in loans and grants for the purchase, rehabilitation, and construction of housing from a variety of private and public funding sources. For example, WHT has received tax credits, bank loans and subsidies, and has competed for and received funding from the Vermont Housing and Conservation Board, Vermont Community Development Program, Vermont statewide HOME program, and Lead Hazard Reduction Program. In addition, WHT has been a grant recipient of HUD Special-Purpose funding, HUD 312 funding, Federal Home Loan Bank of Boston grants, private foundation grants, and has developed project equity through the Low-Income Housing Tax Credit Program.
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