Vermont Department of Housing announcements or official reports

Vermont Offers $25K Forgivable Loans to BIPOC Homebuyers, Sparks Debate

May 10, 2024, 03:46 AM

Vermont has introduced a housing program that offers $25,000 in forgivable loans to black, indigenous, and people of color (BIPOC) to assist them in purchasing homes. This initiative aims to address the home ownership disparities among minorities. Marnie Avila, a beneficiary of the program, expressed financial relief from this assistance. The program has garnered mixed reactions, with some viewing it as a necessary step towards equality, while others criticize it as racially biased. The funding for these loans is partially attributed to contributions from taxpayers and philanthropic figures, including Jeff Bezos' ex-wife.