Vermont officials support new housing in the City of Rutland

RUTLAND, VT. (MyCV) – State Treasurer Mike Pieciak, Heritage Family Credit Union CEO Chris Gomez and Mayor Mike Doenges and have launched an $8 million investment program for the City of Rutland’s new housing initiative.

With the ‘ Roofs Over Rutland ‘ project, Rutland City Mayor Doenges hopes to add about 1,000 new housing units within a five year time span. In the cost breakdown, roughly $5 million will be dedicated to large housing developments, while $3 million will be used for smaller units.

This new housing could help Rutland renters and home-owners who struggle with expensive repairs due to outdated systems. The area also faces a housing shortage despite losing about 3,500 residents since 1970.

The initiative is supported by Treasurer Pieciak’s 10% in Vermont program , a low-interest loan program for improving economic development. Heritage Family Credit Union will also be helping with loan applications.

The application process and timeline varies by project type, and awards are done on a rolling basis.

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