Vermont Housing Improvement Program 2.0 If you need info about VHIP awards given before 2024, please refer to our original VHIP page. The initial VHIP financing was sourced from State Fiscal Recovery Funds, which had different guidelines. The requirements and choices described here do NOT apply to jobs authorized before March 25, 2024. The Vermont Housing Improvement Program (VHIP) is relaunching as VHIP 2.0! Drawing from insights got over the past 3 years and more than 500 units funded, this upgraded program maintains our dedication to expanding cost effective housing. VHIP 2.0 now provides awards for restricted new construction. Additionally, it introduces a 10-year forgivable loan along with the existing 5-year grants, intending to further incentivize landlords. This new choice needs leasing systems at fair market value without the requirement for recommendations from Coordinated Entry Organizations. Tabulation: What can you do with VHIP 2.0 funding? How much financing are projects 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 do with VHIP 2.0 funding? VHIP 2.0 provides grants or forgivable loans to: Rehabilitate existing vacant units. Rehabilitate structural components effecting several units, such as the roofing system 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 systems within an existing structure. Create a brand-new structure with 5 or fewer property systems.