The Montpelier Housing Trust Fund (the Trust Fund or Fund) was established in accordance with Article 15 approved by the voters of Montpelier, Vermont on March 1, 2005. It dedicated “one cent for housing” and a special revenue account was created by the City Council. The purpose of the Fund is to preserve, construct and/or rehabilitate affordable housing units in Montpelier for ownership or rental, and occupancy by eligible households.

Goals

• Increase the number of dwellings in Montpelier affordable to eligible households by funding projects and programs
• Attract and retain young families
• Support economic development by helping to provide a variety of housing types and tenure to ensure adequate housing for workers in Montpelier businesses.

Objectives

• Provide information and guidance to prospective applicants about how they may apply for assistance;
• Make grants or loans to eligible applicants to assist prospective buyers, owners and tenants occupy dwelling units, which shall be affordable for a period of at least 15 years;
• Leverage, deposit and use private, charitable, and public funds to increase affordable housing opportunities in Montpelier;
• Facilitate the creation of 10-20 new affordable apartments annually;
• Help 10 eligible households annually buy an affordable home in Montpelier.