MONTPELIER — An affordable housing complex in the Capital City is one of several projects to receive funding from the Vermont Community Loan Fund.
VCLF announced that it loaned $337,000 in the third quarter of 2019 to a variety of programs that support affordable housing, promote business growth, create jobs, provide essential community services and expand high-quality early care and learning centers.
Downstreet Housing and Community Development in Barre received funding for its Frankin Square affordable housing complex of six historic buildings encompassing 18 condominiums in Montpelier. The funding supported urgent repairs to buildings, helped preserve eight units of affordable housing, created 10 jobs and bolstered the condo association’s reserves for future renovations.
Other projects that received VCLF funding include:
— Big Brothers Big Sisters of Vermont, a youth mentoring nonprofit with chapters in Windham and Chittenden counties and the Northeast Kingdom.
— Agricola Meats in Panton, to expand fresh pork products by renovating a processing site and buying equipment.
— Creative Discoveries Early Care and Education in Essex Junction, to expand a preschool program to include the care of infants as young as six weeks.
— Helping Hands Childcare and Preschool in Beebe Plain, which used funding to upgrade its septic system to allow the center to increase enrollment and preserve two jobs.
— The Kids’ School in Stowe, to make renovations to walls, plumbing and fencing at a new location for the center that allowed enrollment to increase from 20 to 40 slots and create four new jobs with four more jobs anticipated.
— Vermont Trade Winds Farm in Shoreham, to expand its maple syrup and maple products business by converting an old barn into retail, processing and office space, helping to preserve three jobs and create two new jobs.
Since 1987, the Vermont Community Loan Fund has loaned $110 million to local businesses, affordable housing developers and community-based organizations that has created or preserved 6,500 jobs; built or rehabilitated 4,100 affordable homes; created or preserved quality care for over 4,100 children and their families; and supported community organizations providing vital services to hundreds of thousands of Vermonters.
Visit www.vclf.org or call 224-9140 for more information about VCLF.