Vermont Housing Finance Agency

“Chris flannery, cfo and deborah flannery, managing director of community development are husband and wife.”

“The state of vermont appoints 5 board members.”

“The organization does not provide a copy to the governing body prior to filing.”

“As part of the conflict of interest policy, staff are required to report to their supervisor any possible instances where a conflict may arise and a decision is made as to whether a conflict exists.”

“The executive director's performance is discussed annually at a board of directors meeting and discussed with the executive director. Each year at budget time the hr board committee is given a total compensation analysis. Some years a comparison among the other housing agencies in the state occurs.”

“The organization's doucments are available to the general public during normal business hours.”

“The agency has issued more than $4.0 billion in bonds and notes to finance homeownership and rental opportunities for low- and moderate-income vermonters. Over its more than 50-year history, vhfa has put that money to use helping approximately 31,000 vermont households to buy a home and financing the development of approximately 9,600 affordable rental units. Loans provided to home buyers and developers typically carry interest rates that are lower than the rates that would be charged by other mortgage funders. This lowers the cost of home ownership and operating rental properties. The flexibility of its financing enables vhfa to collaborate with community land trusts across the state on many of our loans to low- and moderate-income home buyers. This promotes long-term affordability of a portion of vermont's housing stock through land trust shared-equity programs. Vhfa is the primary tool for financing the development of multifamily affordable rental housing through the low-income housing tax credit program. Vhfa has worked closely with a diverse array of agency representatives, elected officials, and members of the general public. Vhfa staff serve in leadership roles on teams working to address homelessness and whose members serve low income and special needs vermont renters. Vhfa has several staff fully dedicated to heightening general awareness of housingneeds for low- and moderate-income vermonters, including preparing housing needs assessments of counties and communities and providing frequent testimony before vermont legislative committees.”