RUTLAND, Vt. (WCAX) – A new effort in Rutland is aimed at helping alleviate the housing crisis.
The city is teaming up with the nonprofit Breaking Housing Matters to incentivize developers to build affordable housing through a new fund.
“We are going to go and start raising funds from the private sector, from landlords and developers and financial institutions, religious institutions while the city and the exploratory committee at the local Rutland level and state level do the same getting funds from the federal government and state to not only support Rutland but any other city in Vermont that decides to go along with the program,” said the group’s Peter de Krassel.
The goal is to create housing where the buyer or renter pays no more than 25 percent of their income.
The nonprofit says they are working with the mayor’s office and the Rutland Redevelopment Authority to try and form a new exploratory committee.