VISION & VALUES
We envision equitable, inclusive communities where all households regardless of income can thrive in safe, quality, accessible, and affordable homes. We value lasting and innovative work while striving to understand and meet the needs of our diverse community. We accomplish this by nurturing our working relationships, learning from experts in experience, implementing high design st
andards, being adaptable, and focusing on sustainability and energy efficiency. We value public input and engagement which cultivates vibrant communities and downtown revitalization. Above all, we value those who are with us in this work. WHO WE SERVE
The beneficiaries of LHP’s affordable housing and inclusive community development projects are people that we work, live, and play alongside with in our communities everyday. Our residents include families, members of the workforce, older people, people with disabilities, veterans and individuals who have experienced homelessness. Our residents are considered lower and moderate income earning households, earning between 30% to 120% of the area median income through employment or social security income. COMMUNITY ROLE & DEVELOPMENT EXPERTISE
Unlike private landlords, LHP prioritizes preserving housing affordability for our residents and has structured our business model to do so. We charge monthly rental rates that are based on resident incomes, and do not generate significant income from collected rent. Rental revenue is reinvested into the property to preserve affordability for the residents, as well as maintain valuable and shared community housing assets that the community can rely on well into the future. LHP has a 30 year span of developing institutional knowledge essential to navigating the complexities of affordable housing development, real estate and land acquisition, financing and investment that bring our multimillion dollar affordable housing developments to fruition. Our project development team is exceedingly equipped in education and experiential knowledge across these aspects of affordable project development, and our organization’s achievements demonstrate LHP’s capability to successfully and effectively leverage millions of dollars in state and federal grant funding and tax credits into high quality, affordable housing infrastructure that meets community needs. As a well respected and knowledgeable resource regarding Lamoille County and Hardwick’s housing needs, challenges, opportunities, and solutions, we represent our service area in federal and state housing advocacy efforts, providing testimony and advocating to our elected officials to support state investments into affordable housing development that benefit low and moderate income residents in our region and other communities across Vermont. FUNDING
As a nonprofit organization, we rely on a combination of public and private funding sources to advance our affordable housing projects from pipeline to completion in local communities. A common misnomer is that our projects are funded by taxpayers. Our work is primarily funded by federal and state grant funding, low income housing tax credits, historic preservation tax credits, and private grant and foundation funding. We also rely on and earmark philanthropic contributions and annual town appropriations for project specific use. Additionally, developer fees collected from completed projects are integral to our business model and strengthen our organization’s sustainability. Developer fees are garnered through investment capital that is raised to fund projects - these sources include federal, state, local and private entities. DONATIONS: https://www.lamoillehousing.org/donate-online
All financial contributions to LHP are ear marked for project specific funding and allocated to the Housing Opportunity Fund, ensuring that LHP can provide future affordable homes for lower and moderate income earning individuals and families facing financial barriers to living in a safe and stable home right now. The Housing Opportunity Fund provides a strong reservoir of project funding resources critical to advancing all aspects of affordable housing projects from pipeline to construction in local communities, such as land acquisition, building design and construction, more. Your gift also leverages additional project funding dollars through state and federal grants that we rely on.
