Vermont Housing Improvement Program 2.0 If you need information about VHIP awards given before 2024, please refer to our initial VHIP page. The preliminary VHIP financing was sourced from State Fiscal Recovery Funds, which had various policies. The requirements and options laid out here do NOT apply to projects authorized before March 25, 2024. The Vermont Housing Improvement Program (VHIP) is relaunching as VHIP 2.0! Drawing from insights gained over the past 3 years and more than 500 systems funded, this updated program preserves our commitment to expanding budget-friendly housing. VHIP 2.0 now offers awards for limited brand-new building and construction. Additionally, it introduces a 10-year forgivable loan alongside the existing 5-year grants, aiming to even more incentivize property owners. This new choice requires renting systems at fair market rates without the requirement for referrals from Coordinated Entry Organizations. Table of Contents: What can you do with VHIP 2.0 financing? Just how much financing are tasks eligible for? What are the program requirements? 5-Year Grant Versus 10-Year Forgivable Loan VHIP 2.0 Documents Resource Guide for Residential Or Commercial Property Owners Fair Market Rent (Recertification). FAQ's. Recertification. VHIP Recipient List Resource Guide for Residential Or Commercial Property Owners Program Stats What can you finish with VHIP 2.0 funding? VHIP 2.0 provides grants or forgivable loans to: Rehabilitate existing uninhabited systems. Rehabilitate structural elements effecting numerous units, such as the roofing of a multi-family residential or commercial property. Develop a brand-new Accessory Dwelling Unit (ADU) on an owner-occupied residential or commercial property. Create new units within an existing structure. Create a brand-new structure with 5 or less domestic units.