City Investment in Affordable Housing
The Burlington Housing Trust Fund
The Burlington Housing Trust Fund (BHTF) provides grants and loans for the promotion, retention, and creation of long-term affordable housing for very low, low and moderate-income households. Nonprofit corporations, municipal corporations, limited equity housing cooperatives, for-profit corporations, partnerships, and individuals are eligible to apply for project funding. Capacity grants are also made for the staffing, training, planning, fundraising, and ongoing operations of nonprofit organizations creating or preserving housing for very low, low, and moderate-income households.
The BHTF has invested in the development of 1,686 new housing units since its inception in 1988. In the Mayor’s December 2021 Action Plan to Fulfill the Promise of Housing as a Human Right, he committed to fully funding the Housing Trust Fund to voter-approved levels in fiscal year 2023. The FY2023 BHTF allocation will be $564,446. For more information on the Housing Trust Fund click here.
Federal Funds
The City of Burlington receives federal funding for the development of affordable housing through multiple grants:
This HOME funding is administered by the Community & Economic Development Office.
The annual allocation of HOME funds is $475,000.
In the past five years the City has invested HOME funds in the development of 189 new housing units. This includes new units at Laurentide, Juniper, Bright Street, and COTS (95 North). HOME Funds are also used in preservation projects, which are not captured in the total count.
Home Investments Partnership (HOME) American Rescue Plan (HOME-ARP)
On March 11, 2021, President Biden signed the American Rescue Plan, which included funding to address homelessness provided through the existing HOME Investment Partnership Program (HOME Program). Of the $5 billion, the City of Burlington was allocated $1,500,494 to support the homeless through a program referred to as HOME-ARP. The City’s action plan recommends utilizing these funds primarily for the development of permanently affordable rental units, with up to 10% used to provide operational and capacity-building support for non-profits conducting HOME-ARP activities.
For more information about the City’s allocation of HOME-ARP click here.
Community Development Block Grant (CDBG)
CDBG is another source of funding from the U.S. Department of Housing & Urban Development administered to entitlement communities, including Burlington, on a formula basis. The City in turn awards grants to local organizations as well as operates several CDBG-funded programs. The CDBG formula provides Burlington around $770,000 annually. Historically, the City has invested $125,000 CDBG funds in the development of new housing units. The current CDBG action plan recommends 40% of funding will be dedicated to the development of new housing units.
For more information about the City’s CDBG program click here.
