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A New Bill Addressing Vermont's Housing Crisis

A city bus driving through downtown Burlington

A significant housing bill addressing both economic and logistical challenges that Vermont communities are dealing with is gaining momentum in the Vermont Senate. Included in the bill are provisions to create tax credits for those renovating old buildings into rental housing, reduce fees for residential development and streamline the process for homeowners to build accessory dwelling units at their primary residence. 

It would also provide grants to larger employers looking to build housing for employees and for developers looking to convert existing commercial properties to residential use.  In terms of location, the bill’s framework focuses on designating “neighborhood planning areas” to encourage municipalities to focus their efforts on higher density downtown or village center zones.

Having been advanced by the Senate Committee on Economic Development, Housing and General Affairs, the bill is now in the hands of the Senate Finance Committee for further consideration.  For more details on the proposed S.226 housing bill check out the article “Senate advances a bill providing incentives for more housing” on VTDigger.com.

Interested in getting started with investing in real estate or wondering how this many affect your rental property or portfolio?  For the most up-to-date information on current market trends, advanced analytics and in-depth local insight give us a call at (802) 846-8800 or email us at Team@LipkinAudette.com.

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