The Mad River Valley Housing Coalition spent part of the summer developing a Housing Fund and welcomed the first contribution made to the Housing Fund by the Mad River Valley Real Estate (MRVRE) team.
The Mad River Valley Housing Fund is part of the Mad River Valley Housing Coalition, which is a 501C3 nonprofit organization and is established with separate funding and management structure.
“The purpose of the Housing Fund is to promote access to affordable housing for income-eligible households and create new ownership and rental housing opportunities through preservation, construction or rehabilitation of units,” explained housing coalition board member Bob Ackland.
The Mad River Valley Housing Fund is the financial arm of the housing coalition that will be used to make grants or loans to assist prospective developers, buyers, owners and tenants to access, occupy and create affordable housing units, and to leverage, deposit and use private and public funds to increase affordable housing opportunities in the Mad River Valley.
“The Mad River Valley Housing Fund is very appreciative of Mad River Valley Real Estate making this unsolicited donation. Mad River Valley Real Estate demonstrated their keen and firsthand awareness of the need for affordable housing in the Mad River Valley and the potential consequences to the Mad River Valley if those who work in the Valley cannot live here,” Ackland said.
The Mad River Valley Housing Fund welcomes donations, which can be sent to Mad River Valley Housing Coalition, P.O. Box 822, Waitsfield, VT 05673.