New housing report outlines possible future of abandoned Vt. properties

MONTPELIER, Vt. (WCAX) – 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.