2002 Section 108 Project Summary - Vermont

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Public Facilities

LOAN POOLS FOR HOUSING REHABILITATION AND BUSINESS INVESTMENT
Burlington VT Community Development Revitalization Program $3,755,000

The City of Burlington will utilize $3,755,000 in Section 108 loan guarantee assistance for a two-part loan pool, along with public facilities and infrastructure investment. The loan pool was made available for: (a) residential rehabilitation loans, along with financing for low-income housing rehabilitation projects and land acquisition; and (b) the Burlington Business Loan Program, which will target loans to businesses in the Old North End, Pine Street Redevelopment Project, and North Street Revitalization Project areas. The funds will be utilized as project applications are received and approved.