1. Examples of CHT’s program development choices in response to local contexts

2. Community asset or barrier CHT program/strategy choice Sprawl development patterns Expansion to tri-county service area Smart growth principles guide development Buyer-driven scattered site acquisition High costs (housing, land, development) State property transfer tax funds (VHCB) Development fees Mixed-income development NIMBYism Tri-partite board Annual community campaign Emphasis on simplicity (resale formula, legal documents) Resident involvement

3. Community asset or barrier CHT program/strategy choice Disinvested (and gentrifying) core City neighborhood Commercial and mixed-use development Brownfield development Rehabilitation of multi-family buildings Diverse housing tenure needs Rental and co-op development and management Condominium development and use of deed restrictions Dilapidated housing stock New construction development Rehab loans Stewardship fund Capital improvement credit

4. Community asset or barrier CHT program/strategy choice Educational needs of buyers Development risk NeighborWorks HOC Buyers have more support and CHT has steady stream of prepared buyers Rising foreclosure rates & prevalence of sub-prime & predatory lending NeighborWorks HOC post-purchase services Needs of lower- income purchasers Section 8 Voucher program USDA RD loans resale preference for lower income purchasers

5. Community asset or barrier CHT program/strategy choice Legislative barriers “rule against perpetuities” 20-year renewable lease State statute sanctioning affordability covenants Competition for scarce public resources Corporate merger with like housing organization Strong City partnerships Stewardship of affordable IZ units for City of Burlington Increasing interest on the part of local communities to partner with CHT

6. Community asset or barrier CHT program/strategy choice Strong non-profit housing community Diverse partnerships Housing VT – non-profit LIHTC syndicator Housing VT – non-profit LIHTC syndicator Public Housing Authorities Public Housing Authorities Vermont Housing & Conservation Board Vermont Housing & Conservation Board Vermont Homeownership Initiative Vermont Homeownership Initiative NeighborWorks® America NeighborWorks® America Supportive Housing Finance Agency VHFA HOUSE loan (stepped-rate product for CLT buyers)