Vermont Business Magazine Today the TD Charitable Foundation awarded Housing Vermont a $100,000 grant to create home ownership opportunities while improving neighborhoods through the rehabilitation of dilapidated or vacant homes. In presenting the check, TD Bank Market President Phil Daniels congratulated Housing Vermont for its successful application to the highly competitive TD Charitable Foundation Major Grant program.
Phil Daniels TD Bank presents check to Nancy Owens Housing Vermont. Courtesy photo.
Housing Vermont, a statewide affordable housing and community development organization, will use the award to help finance its Neighborhood Housing Fund. This new initiative will serve two objectives—creating home ownership opportunities for lower income households and improving neighborhoods through the rehabilitation of dilapidated or vacant homes.
Nancy Owens, President of Housing Vermont, explained that the Neighborhood Housing Fund will finance the acquisition and renovation of single-family homes to address energy conservation and health issues, correct code deficiencies, replace or repair failed major building systems, and upgrade interiors and exteriors. When the renovations are completed, the home will be sold to a low or moderate-income household. Regional HomeOwnership Centers will steward the homes so that they remain affordable in future sales through the use of the highly successful shared equity model.
The first homes to be to be acquired and renovated will be in central Vermont through the joint efforts of Housing Vermont and Downstreet Housing & Community Development.
The Vermont Housing and Conservation Board and the Vermont Housing Finance Agency will also partner in the Neighborhood Housing Fund program.
“We thank the TD Charitable Foundation for its generous gift which will enable us to assist lower income households to achieve home ownership now and for successive generations,” said Housing Vermont President Nancy Owens.
The TD Charitable Foundation has distributed more than $175.5 million in charitable donations from Maine to Florida since 2002.
TD Bank is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America.
The TD Charitable Foundation is the charitable giving arm of TD Bank, America’s Most Convenient Bank®, one of the 10 largest commercial banking organizations in the United States. The Foundation's mission is to support, respect and improve the quality of life in the diverse communities where we live and do business. Since its inception in 2002, the Foundation has distributed more than $175.5 million and more than 17,000 grants in charitable donations from Maine to Florida. The TD Charitable Foundation focuses on supporting the following community needs: affordable housing, economic development, neighborhood revitalization, financial literacy, and human services. Recently, more than 90 percent of the grants awarded by the Foundation benefited low-and moderate- income communities and individuals. More information on the TD Charitable Foundation, including an online grant application, is available at www.TDBank.com.
Housing Vermont is a private, nonprofit development company founded in 1988 to produce permanently affordable rental housing for Vermonters through partnerships with communities and the private sector. Since its inception, Housing Vermont has raised more than $360 million in private equity to finance 180 affordable rental housing developments throughout the state. This equity has leveraged an additional $470 million in private financing and public investment. The 6,000 apartments created or renovated in these efforts serve low and moderate income Vermonters including seniors and those with special needs. Housing Vermont's New Markets Tax Credit program, Vermont Rural Ventures, has created favorable financing in excess of $128 million for 15 economic development projects in low income areas. Housing Vermont is an active member of the National Association of State and Local Equity Funds (NASLEF).
Source: [Burlington, VT] TD Charitable Foundation 11.28.2017