New Housing Report Outlines Future of Abandoned VT Properties
One Community Update
February 4, 2025
Source: www.wcax.com
Rundown and vacant properties could be on the path to new life.
The Vermont Department of Housing and Community Development has announced the results of a study that determines the feasibility of creating a Land Bank, which would be authorized to make vacant, abandoned, deteriorated and tax-delinquent properties useful again.
The latest housing needs assessment shows there are almost 11,000 vacant and abandoned homes across the state, making up 3% of the housing stock.
That assessment also determined that Vermont needs to add upward of 36,000 homes by 2029 to meet demand.
The study says Land Banks need a dedicated and sustainable funding source to be effective.
For full report, please click the source link above.