Mission

The Champlain Trust is a community land trust that supports strong, vital communities in northwest through the development and stewardship of permanently affordable homes and associated community assets. Dear Friends,

Another year has closed, and we are happy Our work and our innovation has also attracted new to present you with this annual report that resources and attention by large national foundations. In conjunction with two other nonprofit partners, details our work and progress in supporting the Doris Duke Charitable Foundation selected our strong, vital communities in our three project as one of nine out of a pool of 370 applicants county service area in northwest Vermont. to demonstrate the effectiveness of and barriers to financing energy investments in . Similarly, the TD Charitable Foundation recently chose While sustainability is certainly not new to our work, CHT as the only Vermont recipient in their national there has been an increased focus in all programs— Housing for Everyone competition and provided us with including real estate development, property capital to explore new green lending initiatives for management and lending—on energy efficiency, owners of our shared equity homes. incorporating renewable sources of energy in our housing, and encouraging resident involvement in Lastly, the City of Burlington, CHT and the East Village reducing consumption. This work helps make us more Co-housing community were recently awarded the Home of a sustainable organization for the years to come Depot Foundation’s second annual Award for Excellence while increasing affordability for our residents and a in Sustainable Community Development. This national healthier environment in our communities. recognition highlights how we mesh social equity with economic opportunity and environmental stewardship. We are proud to have such committed partners. Every project this year had such a component—new, innovative wood pellet boilers installed at As you review this report, we hope you will share our in Enosburg Falls, super-insulated newly constructed enthusiasm for these achievements along with the homes in Swanton, “green” affordable cottages in exciting projects we have ahead. Both your ongoing Charlotte, workshops for homeowners to save on energy support and your engagement are greatly appreciated bills, weatherization lending for mobile homeowners— and makes all the difference. and the list goes on. In the center of this report, we have listed many of these initiatives. These efforts will Sincerely, remain at the center of our work as you will see when we roll out our newly minted 2011-2013 Strategic Plan early in the year. Paul Bohne, Brenda Torpy, Board President Chief Executive Officer

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 1 In the comfort of their living room Pemba, Ming, Cheten and Chewang joke and talk about family life at East Village Co-housing. City, CHT & Co-housing win national award

In the fall of 2010, the City of Burlington, in partnership with CHT, won the 2nd annual Home Depot Foundation Award of Excellence for Sustainable Community Development, recognizing efforts that Ming and Pemba Sherpa came to When they first looked into buying they were told they Vermont from Nepal eighteen years ago, could not get the mortgage they needed, despite their incorporate real-world sustainability initiatives into good credit. Once they learned about CHT’s shared day-to-day operations while increasing the livability of but life really changed when they discovered equity program, though, things moved quickly. They the Champlain Housing Trust in 2004. met the requirements, got a mortgage with a bank that the community for all residents. Burlington won the knows CHT’s program, and bought their townhouse less They were raising twin daughters, Cheten “small city” award and joins Tacoma, Washington, than a month later. and Chewang, in a small one-bedroom winner of the large city award, as one of two national , so were happy to learn they “There’s a lot that we like about living here,” Pemba winners of this prestigious honor. could afford a spacious three-bedroom comments. “The home is a good size and very energy- efficient. We work with other residents to grow a place from CHT for almost the same vegetable garden. I think it’s important that our Burlington was recognized for the creation and monthly rent as their previous place. Their daughters are learning where food comes from and what long-term hope, though, was to buy a home. it takes to raise it.” implementation of the Legacy Project Action Plan, with the development of the Burlington Co-Housing “[It] feels more like life did in Nepal, because we are They found that opportunity at East Village Co-housing friends with our neighbors and do so much together. East Village project being an example of the Plan at in Burlington, where a community of 32 We have much more of a sense of community here and work. East Village is directly aligned with the goals of owners live collaboratively. Co-housing balances the it feels safer for the girls, since we know our neighbors privacy of separate apartments with a commitment to well,” Ming adds. the Plan and demonstrates best practices in housing, interaction and sustainability. natural resources, land use, and development. Residents of East Village cook some dinners together As a demonstration of this sustainable mission, the in the common area, meet periodically to manage the The Champlain Housing Trust was a partner in co-housing community, the Champlain Housing Trust property, and get together informally in other ways. The the Co-Housing East Village development as part and the City of Burlington won the Home Depot values of sustainability and community are also evident Foundation’s 2010 Award for Excellence in Sustainable in the location—with easy walking and bus access, to of its mission of creating permanently affordable Community Development, a national award that reduce car dependence—and the community’s choice homeownership opportunities. recognizes the unique implementation of sustainability to set more apartments at affordable prices than city initiatives in Burlington, as exemplified by East Village regulations require. Co-housing. Nine of the 32 homes at East Village are in CHT’s shared equity portfolio, making them “Living here is sustainable and peaceful,” Pemba permanently affordable, and there are multiple “green” concludes. “It feels like family to us.” aspects of the development.

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 3 HomeOwnership Center FY 2010

Sh ared Equity NEW HOMES Address City Closing Date Counseling and Education At the heart of all land trusts’ 13 Hillary Lane Milton 10/7/2009 mission is the stewardship of land for 11 Hillary Lane Milton 10/7/2009 In FY 2010, CHT’s trained counselors provided: 230 A West Street Winooski 10/16/2009 the benefit of the community. CHT 231 C West Street Winooski 11/23/2009 ■■ counseling for 309 households seeking to buy a , accomplishes this goal by ensuring 7 Hillary Lane Milton 11/24/2009 90 of which achieved the goal this year long-term affordability and preserving 240 A West Street Winooski 11/30/2009 15 East Road, # 103 Fairfax 12/30/2009 ■■homebuyer education to 146 households the quality of our precious resources 211 A West Street Winooski 5/27/2010 through land acquisition, covenants, 56 Hillary Lane Milton 6/14/2010 ■■financial literacy education to 23 households and the management of property 5 Hillary Lane Milton 6/14/2010 15 East Road, # 107 Fairfax 6/17/2010 ■■home maintenance & repair education to 36 households transfers from one homeowner or 81 South Williams Street, # 205 Burlington 6/24/2010 community group to another. 240 C West Street Winooski 6/28/2010 ■■tax filing education to 20 households 15 East Road, # 106 Fairfax 8/27/2010 We hold dear our responsibility to ensure 24 Peru Street Burlington 9/13/2010 ■■counseling for 187 households looking to avert foreclosure that these properties always serve the wider community as set forth in our mission ■■counseling for 55 households after purchase statement. The Board of Directors, elected by T rANSFERRED HOMES to new owners the membership at the annual meeting, must Address City Closing Date approve each transaction, and no parcel can 409 Farrell Street, # 308 South Burlington 10/1/2009 C hamplain Housing Loan Fund be returned to private, for-profit use without 502 Dalton Drive, # D Colchester 10/2/2009 a vote of the full membership. Thus, all public 74 Valade Street Burlington 10/2/2009 In FY10, CHT’s Loan Fund made over $545,000 and private contributions are an investment 204 Cedar Lane Williston 10/6/2009 worth of loans and grants to homeowners to in our community’s stock of permanently 80 Austin Drive, # 162 Burlington 10/28/2009 rehab or make energy efficiency improvements affordable housing. 86 Pinecrest Village, # 11D Essex 10/28/2009 in their homes. In all 80 low to moderate income 16 McCabe Circle Shelburne 10/30/2009 owners received support to improve their homes. In FY 2010, we added 15 new homes to our 69 Tracey Drive Burlington 1/29/2010 portfolio, and provided stewardship for the 32 Peru Street Burlington 2/8/2010 This past year also included a significant step transfer of ownership for 19 others. These 34 409 Farrell Street, # 114 South Burlington 2/11/2010 forward to increase our lending capacity. CHT homes listed, plus ten others we sold without 10 Fadden Road Swanton 5/14/2010 applied for and received a technical assistance resale restrictions, amounted to $7.6 million 66 Valade Street Burlington 5/17/2010 grant from the US Treasury to create a dollars in homes sales. 24 Densmore Drive Essex 5/24/2010 Community Development Financial Institution, 52 Chestnut Lane Colchester 6/21/2010 giving us access to additional capital and 26 North Street Winooski 6/24/2010 allowing us more flexibility with our lending 25 McCabe Circle Shelburne 6/25/2010 products. The newly organized Champlain 8 Checkerberry Square Milton 7/14/2010 Housing Loan Fund will likely be up and 286 Hollow Creek, # 1 Colchester 8/6/2010 running by the winter of 2012. 38 A North Street Burlington 8/25/2010

4 | CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 Dear CHT Members and Partners, The solid growth in net assets, when measured as return on average equity and return on average total assets, With the close of fiscal year 2010, four 8.3% and 5.7% respectively, can be considered striking years have passed since the merger that in that it occurred largely during a period of severe economic downturn when average reinvestment rates created the Champlain Housing Trust. fell to near 0%. While the reasons for the merger were many, none were more important than the Strengthening CHT’s already strong balance sheet has been the reduction in the level and improved quality desire to build an organization with a strong of outstanding accounts receivable achieved through financial foundation that would prosper and write-offs, workouts, and improved collections. grow in support of its mission. A look at key During fiscal year 2010 these efforts resulted in a 40% reduction in total receivables and helped create financial measures for the four years shows a cash position that enabled CHT to pay down to zero exactly that result. the working capital line of credit which had been established to provide needed liquidity in the early days of the merger. CHT’s net assets (total assets minus liabilities) increased by nearly 30%, or $10 million, to $35 By any measure CHT’s balance sheet is the strong and million over the four year period, with positive robust financial foundation upon which we can build growth in each year. Comprised of $47 million in our future mission successes. total assets less $12 million in liabilities, net assets were a remarkable 74% of total CHT assets at the Sincerely, end of fiscal year 2010. It is important to note that this growth does not reflect an overabundance of available operating cash; rather it is a reflection of sound financial and risk management and Tim Gutchell, Treasurer commitment to stewardship of community assets Board of Directors in perpetuity. In short, this indicates fulfillment of our mission.

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 5 Consolidated Statements of Financial Position

ASSETS 2010 2009 L iabilities and net assets 2010 2009 CURRENT ASSETS CURRENT LIABILITIES

Cash - Operating, Property Accts $534,262 $208,871 Accounts Payable $154,466 $770,672 Cash - Restricted Deposits, Reserves & Development Accts 2,363,654 2,664,735 Accrued Expenses 236,040 167,570 Cash - Loan Fund 451,498 593,838 Accrued Interest 38,026 37,405 Legacy Fund 1,696,537 1,551,422 Accrued Vacation Pay 144,632 142,007 Rents Receivable 46,231 52,837 Security Deposits 66,279 76,507 Donations Receivable 37,370 77,970 Reserve Deposits Held 149,647 150,211 Other Receivables 328,553 422,403 Prepaid Rent 12,894 9,894 Grants Receivable 122,462 346,088 Deferred Revenue - Current Portion 55,833 23,333 Inventory 10,042 7,346 Line of Credit 62,233 360,930 Due from Related Party 0 71,553 Current Portion of Long Term Debt 629,373 1,024,068 Prepaid Expenses 86,613 86,033 Total Current Liabilities $1,549,423 $2,762,597 Notes Receivable - Current Maturities 89,393 101,378 Deferred Revenue - Less Current Portion 58,269 79,723 TOTAL CURRENT ASSETS $5,766,615 $6,184,474 Long Term Debt, Less Current Portion 14,274,861 14,946,781 Notes Receivable - Current Maturities 8,961,416 8,901,643 Deferred Interest 165,036 160,888 Less Current Maturities (89,393) (101,378) Total Liabilities $16,047,589 $17,949,989 Notes Receivable, Less Current Maturities 8,872,023 8,800,265 NET ASSETS Housing Covenant Loans 11,465,763 10,750,620 Unrestricted 30,262,492 28,732,494 Financing Costs, Net of Accumulated Amortization 18,684 13,048 Temporarily Restricted 58,370 98,970 Equity In Partnerships 328,800 328,800 Permanently Restricted 4,345,639 2,547,640 PROPERTY AND EQUIPMENT Total Net Assets $34,666,501 $31,379,104 Land and Site Improvements 11,817,152 10,507,645 TOTAL LIABILITIES AND NET ASSETS $50,714,090 $49,329,093 Buildings Held for Rent 19,306,460 16,647,111 Office Fixtures, Equipment and Appliances 350,116 477,537 Leasehold Improvements 11,041 43,001 Work in Progress 1,511,537 4,544,904 Total 32,996,306 32,220,198 Less Accumulated Depreciation (8,734,101) (8,968,312) Net Property Plant and Equipment 24,262,205 23,251,886 TOTAL ASSETS $50,714,090 $49,329,093 Unaudited - Full Copies of Our Audited Financial Statements Are Available Upon Request.

6 | CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 Consolidated Statement of Activities RE VEnue, GAINS & OTHER SUPPORT OCTOBER 1, 2009– SEPTEMBER 30, 2010 FRO THE YEARS ENDED SEPTEMBER 30 FY 2010 FY 2009

Revenues, Gains and Other Support 32.9% Fees and 30.8% Grants Other Revenues Grants $3,341,565 $2,480,941 Donations 82,769 100,619 RENTS 2,219,534 1,936,453 Interest 217,645 231,684 Gain on Sale of Properties 1,409,744 249,131 Fees and Other Revenues 3,565,199 3,741,752 Total Revenues and Other Support $10,836,456 $8,740,580 0.8% Donations Expenses

Development 232,320 352,740 Homeownership 1,204,010 967,059 13.0% Gain on Sale of Properties Property Management 5,321,030 5,186,956 2.0% Interest 20.5% Rents Management and General 456,436 362,256 Fundraising 335,263 353,387 Total Expenses $7,549,059 $7,222,395 Change in Net Assets $3,287,397 $1,518,185 E XPenses Net Assets at Beginning of Year $31,379,104 $29,860,919 OCTOBER 1, 2009– SEPTEMBER 30, 2010 Net Assets at End of Year $34,666,501 $31,379,104 4.4% Fundraising 3.1% Development

6.0% Management 15.9% Homeownership and General The statement of activities above does not tell the complete story of CHT’s activities as it does not include the economic impact of all of the real estate development or property management activity done in our partnerships. The detail above supports over $61 million in total activity annually, which in turn represents the stewardship of approximately $220 million of community assets.

70.5% Property Management

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 7 ① Alburgh

① ② ④ ③ In the past year, CHT Alburgh Family Housing and has engaged in real estate Pine Manor development activities in ④ Two rehab projects preserved and made more ten different communities in Orleans energy efficient 13 family apartments and 16 northwestern Vermont. This Franklin senior apartments in rural Alburgh, including the demolition and rebuilding of one structure work is done with a variety on Main Street. of partners, including the Essex municipalities themselves as

well as state agencies such as Grand Isle the Vermont Housing Finance Agency, the Vermont Housing Lamoille and Conservation Board, and the Department of Economic, Housing and Community ⑪ ⑥ Shelburne ⑦ Charlotte Development; federal partners ⑩ ⑤ Caledonia such as NeighborWorks® America ⑧ and USDA-Rural Development; ⑨ and nonprofits such as Housing ④ Vermont and Cathedral Square. Chittenden The public funding that we raise leverages millions in investment ⑥ from private sources. The projects described here keep hundreds ⑦ of contractors working, and represent over $50 million in Harrington Village Hagan Hill Cottages economic activity. CHT has secured a parcel of land in the Constructed by award-winning builder Steve center of Shelburne and is in the process Davis, four small, super energy efficient of obtaining permits to build 42 affordable homes will be offered for sale by the summer Rental Homes Property Management apartments, five single family shared-equity of 2011, made affordable through the support Washingtonhomes, and 36 apartments for seniors. of the Vermont Housing and Conservation Homes For Sale Board and State Affordable Housing Tax HomeOwnership Center Credits allocated by VHFA.

Homes For Sale & Rental Homes HomeOwnership Center Property Management Addison Orange

8 | CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010

Rutland Windsor

Bennington

Windham ② Swanton ③ Enosburg Falls ④ Sw  anton, St. Albans ⑤ Essex and Burlington

① ② ④ ③ Blake Commons Pleasant Street Apartments Cedar’s Edge In June CHT and Housing Vermont opened A significant rehab of these 24 affordable Under construction in September, 2010, ④ Blake Commons, a newly-constructed building apartments included an innovative wood Reclaiming foreclosed AND Cedar’s Edge will provide 30 new apartments Orleans with 16 apartments. This building includes pellet fired boiler, plus solar hot water and blighted homes in Essex, one of the largest communities in Franklin solar hot water heaters and was built to be much needed insulation. These buildings are With funding from the Neighborhood the State yet one that has very few affordable 40% more efficient than one built to the projected to reduce their energy usage by Stabilization Program, part of the federal apartment options for families and individuals. Essexminimum Energy Codes. over 50%. stimulus package, CHT has aquired 15 homes Cedar’s Edge is being built by Snyder Homes and will rehab them and sell them to qualified and will be purchased by CHT and Housing buyers with resale restrictions to make them Vermont in part due to a federal grant

Grand Isle permanently affordable. secured by Senator Sanders. Lamoille

⑪ ⑧ Burlington ⑨ Burlington ⑩ Winooski ⑪ Colchester ⑩ ⑤ Caledonia ⑧ ⑨ ④ Chittenden

⑥

⑦ Village at Leddy Park Salmon Run Westwood Brookside Village With private developer Eric Farrell of F&M On Riverside Avenue in Burlington, CHT Over the last few years, CHT converted 32 Completed last winter, Brookside Village Development and Cathedral Square, CHT is assembled financing of $4.7 million to rehab apartments we owned to condominiums that consists of 42 new rental townhouses redeveloping the site of the old Thayer School and preserve 79 apartments as affordable. provided safe and affordable homeownership and flats in Colchester. These apartments in Burlington’s New North End. The site, home Senator Bernie Sanders secured federal opportunity in Winooski. Four remain to be were all rented soon after completion, a to the Vermont Department of Motor Vehicles, funding for new solar panels to be installed. rehabbed and sold. demonstration of the demand for affordable Washington will also be home to three new buildings for rental apartments in Chittenden County. both market rate and affordable apartments for families and seniors. Addison Orange

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 9

Rutland Windsor

Bennington

Windham The great outdoors are a big part of Joanne and Phoebe’s day – from their front porch to a trail side bench. WHO WE SERVE in rental housing

Brookside Village in Colchester, where resident Joanne Finnigan lives, is just one of the new apartment developments added to CHT’s larger portfolio of rental housing throughout the region. On pages 8 and 9 more of our development activity in the past year is listed. Overall, more than 2,600 people live in

“I looked at over twenty apartments,” “This works perfectly for me and my daughter,” Joanne CHT’s 1,500 apartments. While many are located in notes. “It’s close enough to her classes that she can Joanne Finnigan recounted of her new home Chittenden County, the densest populated county of take the bus sometimes, so we can share one car. Yet search. “As soon as I walked in here and it’s set back enough to be peaceful.” It is also handy to the state, over 20% of our apartments are located in saw all the light and openness, I knew I had Joanne’s job at Fletcher Allen, where she has worked rural Franklin and Grand Isle Counties. to have it.” for thirty-three years. The location on the Winooski and Colchester border means convenience to buses and jobs, making living there all the more affordable She also was drawn to the access to the woods right for the families. It is one example of how well-located BURLINGTON outside, the quietness and attractive look of the housing can add to sustainability. brand-new development, and the ample storage space WINOOSKI in the apartment. She found all this, plus easy access Joanne especially likes sitting on the front porch to transportation and work, at CHT’s new apartments with coffee and a book. She has gotten to know the in Colchester, called Brookside. Morehouse Brook neighbors this way, and other residents from the COLCHESTER runs alongside the development, which is on the community who like to jog or walk their dogs down to Colchester-Winooski border. the river. “Since we all moved in this year, we are all SOUTH learning the right pitch, how to get along together,” BURLINGTON The storage was important to Joanne as she had Joanne notes. “I get a kick out of talking with the kid just sold the home she grew up in. After years of next door, and there’s a guy down the street who sits OTHER CHITTENDEN living with multiple sclerosis, maintaining a house and plays his guitar outside.” COUNTY became too much. It was not an easy transition – she was leaving not only her home, but family and old To us, that sounds like a neighborhood, with the FRANKLIN COUNTY friends right around the corner. So she hoped to find possibility of new friends right around the corner. a place that felt special, and that was close enough to GRAND ISLE minimize the disruption to her life. Brookside offered COUNTY her the perfect opportunity. 0 250 450 650 850

= 50 RESIDENTS = 50 APARTMENTS

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 11 HOMES FOREVER FUND AT THE VERMONT COMMUNITY FOUNDATION

In the Fall of 2010, CHT renamed its endowment as the Lois H. McClure Homes Forever Fund in recognition of the generosity and commitment Lois has provided and continues to offer in support of our mission. The name change was announced at an unveiling of a sculpture recognizing and thanking all donors to the Fund, which is administered by the Vermont Community Foundation.

The sculpture was designed by Jon Shenton, CHT’s Marketing & Communications Coordinator. Jon then worked with three local artists: John Marius (tree), Hendrik Glaeser (bird house) and Bonnie Acker Clockwise, from top left: Lois McClure in front of the sculpture; Randy Amis, Stuart Comstock-Gay, (wallpaper) to create the installation. Brenda Torpy, Lois McClure, Paul Bohne; the unveiling from the outside of 88 King Street; Willie Pearson, Frank Lenti and Lois McClure; Peter Espenshade and John Ewing; Noelle MacKay and Eileen Townsend; Bonnie Acker and Brenda Torpy The Lois H. McClure Homes Forever Fund at the Vermont Community Foundation is building permanent resources to uphold the Champlain Housing Trust’s mission of ensuring permanently affordable homes and strong, vital communities. For more information about making a gift to the Fund or about its purpose, contact Chris Donnelly, Director of Community Relations, at (802) 861-7305. CHT is fortunate to have the support of Ov er $10,000 New England Federal Sandra & John Dooley John & Betsey Berryman Credit Union many individuals, businesses and agencies Bill & Ellen Dorsch Sr. Lucille Bonvouloir Anonymous Tyler Scott Louise Elving Joseph & Dale Boutin who have made gifts, grants, pledges, Burlington Electric Barbara W. Snelling & Family Tim Gutchell Charles & Mary Brush Department offered in-kind support or made charitable Lisa Steele Thomas & Mercy Hyde Julie Campoli & Burlington Housing investments in support of our mission. The Brenda Torpy & Hank & Molly Lambert John Kassel Trust Fund Ken Messing Ann Livingston Peter Clavelle & following pages list the donors and funders Citizens Housing & Jean Wright Betsy Ferries Planning Association David Porteous & that supported CHT in fiscal year 2010 Vicky Smith-Porteous Doris Cramer City of Burlington (October 1, 2009 – September 30, 2010). $500 to $999 Patrick S. Robins & Kelly & Ande Deforge Efficiency Vermont Lisa A. Schamberg Frank & Joan Demetrowitz If you have been inadvertently omitted or Arnold & Virginia Golodetz Jeanne A. Boucher Andrea Rogers & Amy Demetrowitz if we have misspelled your name, please Lois McClure John E. Davis & Avery Hall Don & Judy Dickson NeighborWorks® America Bonnie Acker accept our apologies and let us know. Nadine L. Scibek Tom Dillon & Rural LISC Eric F. Farrell Jon Shenton & Cyn White TD Charitable Foundation First Unitarian Universalist Jessica Oski John & Alida Dinklage Society Vermont Community John & Dianne Shullenberger Bill & Benedicte Dodge Development Program Robin Gronlund Kandi & Mark Thermansen Donal Dugan & Vermont Gas Systems Main Street Landing Co. Vermont Community Nancy Owens Vermont Housing & Liz Shayne & Foundation Duncan Wisniewski Conservation Board Tiffany Bluemle David Weinstein & Architecture The Hartland Group Erin Hanley Michael & Dana Engel $1,000 to $9,999 Amy Wright & Amy W. Wise John & Jane Ewing Gil Livingston Amy FitzGerald & Anonymous $100 to $249 Andy Broderick Isabella Acker $250 to $499 Erica Foldy & Matthew & Cecilia Daly Anonymous Roger S. Luckmann ACME Paint & Glass William & Debra Gottesman Philip A. Ades & Frances & Willett Foster L Randolph & Deborah Rubin Rosalyn & Thomas Graham Mary & Daniel Gade Jane Amis Steve Allen Charles Hoag Mark & Marjorie Gadue Alec & Jill Barclay Keltie Armstrong The Home Depot Foundation Gay & Lesbian Fund of Mike Bourgea ATC Environmental Inc. Vermont, Inc. Neil & Elizabeth Mickenberg Andrew Clements Stephen Ayotte Aaron & Rebecca Goldberg Michael Monte & Patricia A. Crady Wendy Hess James Bandy Nancy Goodrich Chris Donnelly & Dan Morrissey Sandra Berbeco William & Valerie Graham Nina Chill

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 13 $50 to $99 Matthew & Masako Carter Dieter & Valerie Gump David & Rita Clark Robert & Ann Hallowell David & Gene Adams Drs. Richard & Rose Colletti Susie & Charlie Halstead Katie Amadon & Michelle Connor Daniel W. Higgins Annie Goff Julia Curry Emily & Darren Higgins Kaitlyn Armstrong Liz Curry & Carol & William Hinson Sheila Arnold Brian Pine Donald & Mary Ann Gretchen Bailey Edward & Iris Darling Horenstein Scot E. Barker & David G. White & Jonathan & Lori Houghton Rebecca Holt Associates, Inc. Christopher Houghton Shelbe & Mark Barone Thomas & Patricia DiSilvio Mary Houghton Jennifer & James Bedell Gail Dolan Housing Vermont Debby Bergh Richard & Kate Donnelly Donald Jamison & Ludy B. Biddle Laurie & Dave Drew Christina Root Donna Bister Jeffrey Edwin Joanne & Robert Jarrett Bart Blaner Mark & Nancy Eldridge David Jonah & Dean Bloch & Dave Ellenbogen Susan Dixon Valerie D. Wilkins Nancy & Russell Ellis Susie Jones Paul & Nancy Bohne Jennifer Engle William & Judith Kelly Louis & Lois Bresee Karla Ferrelli Jane E. Kiser Paul Bruhn Christine Graham Benjamin & Anne Mason Michael B. Rosenberg Leta Finch & Joan Knight Susan Bueti Patricia Hanson Gil Mathys & Kenn & Judith Sassorossi Bill Ryerson Maury Kost Sergiu T. Bulmaga & Michael Healy & Lynda Siegel Hope & Don Schultz Patricia Fontaine Gary Kowalski & Julia Magdeeva Dori Jones Debra Blumberg Elaine McCrate Brenda D. Smith Jeff Forward & Sara Burchard Patty Brushett J Ladd & Erik Hoekstra David & Susan McFeeters Christine M. Staats & Douglas & Christine Campbell Martha Whitney Philip & Joan Hoff Michael & Ida McNamara Brian Perkins Cathleen Gent & Dorothy & Torrey Carpenter Frances Huntoon Robert Leidy & John & Susan Hood Nicholas & Bridget Meyer Leigh T. Steele & Faye Baker William Carpenter John & Mary Gersbach Oda W. Hubbard Andrea Morgante Joan R. Wales Douglas & Cathy Hull Eugene F. Morrissey Stephen Louis LLC d/b/a Three Tomatoes Trattoria Catherine & Mike Jones Christine Negra & James Iatridis Mark Stephenson & Sandy & Ron Kilburn Linda Jones Russell C. Newton Jane Knodell & John C. Stewart II Ted Wimpey Barbara Nolfi & Three Tomatoes Trattoria Lawrence Kupferman & Don Schramm Susan Schoenfeld Janet Page Sarah Tyner David & Deborah Lackey William A. Pearson David & Lynne Watts Chris Lee Martha Perkins Danny Weiss & Annette Urbschat Rep. Joan G. Lenes Kit Perkins Mark Wiznitzer & Robin Lloyd Petropreneur Paula Goddard Kathleen & Daniel Luce Meg Pond & Anton & Yona Yellin Noelle MacKay James Rader Ron Manganiello & Joe Reinert Ellen Bernstein Gene & Julie Richards

14 | CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 Andrew & Margie Leith Martha Seagrave & U nder $50 Sarah Britton-Cote & Scott & Sharon Luck Kurt Kaffenberger Marcel Cote Rep. Terence MacAig Lila Shapero & Anonymous Joan M. Broley Wayne Senville Ignatius MacLellan John E. Adams & Steve & Holly Brooks Andrew Siegel Sarah Coonrod Erhard & Sydney Mahnke Janice & Vernon Brosky Josh Slade Daniel & Susan Albert Carolyn & Andrew Mayer Rowena Brown Lorrie Smith Peter & Susan Alden Andrew McClellan & Lee Buffinton Alice Brown Susan Smith Mike Armstrong Karen M. Cady Dan & Kristen Mendl Jeff Smith & Rep. William N. Aswad Therese Caissie Kristin Allosso William & Elizabeth Metcalfe Craig & Mistie Bacon Dennis & Gail Campbell Senator Diane Snelling Darrell & Belva Meulemans Paul & Anne Bakeman Peter Carlough Laura Solomon Kim & Chris Moran John Banks Alex W. Carmical Frances C. Stoddard & Richard & Sharon Barton Gretchen & James Morse Harry Grabenstein Bethany R. Cassell Jerry & Sharon Barton Mark Nolan Nancy & Noah Sugarman Gary & Gwendolyn Causer Alice C. Bassett North Bridgewater Venture Mary Sullivan Sherry & Joseph Ceresa d/b/a Three Tomatoes Dennis Bates Amelia Chaparro-Hammond Trattoria Sam Swanson & Joyce Gallimore Joan & Dale Beauchemin Peter & Carrie Chlumecky Tim Nulty James Talbot & Dot & Sam Bechard Wendy A. Cholewa Joyce Oetjen Nancy Standley Lesley A. Becker Elizabeth Clark Paul Orgel & Eileen S. Townsend Alice Beisiegel & Sharon Lamb Bill & Roddy Cleary Kevin M. Trainor & Michael Gurdon Lee & Clark Orsky Gail Clook Anne L. Clark Nicole M. Belida Janice H. Park Regina Cochran & Vicki L. Tucker Ben & Jerry’s Foundation Carolyn Sanders Mr. & Mrs. Terry Pegler James Turcot Gail Benjamin Wendy Coe & Ralph & Jeannie Perkins Mark & Robin Twery Michael Benvenuto & Gene Bergman Jeff & Cathy Phillips Helen P. Valine Anne J. Lowrie Maurice D. Coleman & Jim DePierro James & Ann Fingar Joan & Donald Picard Kathy Valloch & Patrick & Dorothy Bernard Jayme Sartelle Dana & Kerry DeSchamps Jules Fishelman & Stephen & Betsy Pond Dan Bradley Scott A. Beyer Shawn & Diane Collins Andrea M. Dion Rachel Siegel Travis Poulin Al & Roberta Voegele Anthony & Nancy Bianchi Dorothy M. Commo Bruce & Joan Donaldson John & Whitney FitzGerald Senator Douglas Racine John & Dale Wadhams Ellie Blais Pearse P. Corcoran Roger & Elita Dorwart Geoffrey & Sharon Fosbrook Joanna Rankin & Albert & Joyce Weldon David Blanchard Ann M. Curran David F. Doucette Ellen M. Fox Mary Fillmore Robert Wetherbee Scott Boardman Rev. Dr. Lawrence & Armand & Mary Lou Dragon Marian Fritz John Rao & Helen Curtis Jodi A. Whalen & Benjamin & Anne Bosher Matthew & Jennifer Dubel John Gallagher & Patricia Corcoran Micky & Happy Dattilio Kathleen Hurley Phillip D. Merrick Janet & John Bossi Pamela & Eugene Ducharme Red Rock Mechanical Rose Dauerer Austin Garrison Neil Wheelwright Elisabeth A. Bossi John & Sheila Dunleavy Michael Reed Lynn Davis Valentina Gatti Barbara & David Wright Deb Bouton & Lisa Echevarria Peter & Nancy Richardson Gerald M. Geier Alexander & Dan Herman Julie Davis & Bridget Edwards Robert & Lynne Robbins Marguerite Zabriskie Bruce Seifer John & Barbara George Joseph Bowling & Rebecca J. Emerson Marilyn Morin Roberts Zuppa LLC d/b/a Three Corrina Marnellos Elizabeth Davis Kala & Seth Gilliam Katherine A. Emery Colin & Sarah Robinson Tomatoes Trattoria Jane Bowman Gerald & Karin Davis Emily Ginter Ralph & Roseanne Esposito Betsy Rosenbluth Matthew C. Brand Aimee & Ian DeGalan Elizabeth & Stephen Gitto Jr. Stephanie A. Ezzo Paul & Hannah Rosenthal Charlotte Brigham & Courtney Walker DelaBruere Paula Godfrey Mira Fakirananda Linda Ryan Susan Rustic & Kevin DelaBruere Sam Falzone

CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 | 15 Rebecca Golden & Jeffrey T. King & Karl D. Michael & Linda P. Rizvi Lester & Elizabeth Wallman Inn-kind Do ations Andrew Carlo Alison M. Remillard Nasse Salhi Ana C. Rodriguez David & Carol Walters Lillian Golovin Sherry Knudsen Ruth & Boaz Mickey Ethan & Patricia Rogati Stuart Weiss & An Angelic Touch Massage Mary & Bob Gordon Meg Kopald & Jason & Christina Moore Paul & Margaret Rosenau Michelle Lefkowitz August First Bakery Mark Crow Lesley A. Graham Michael & Jane Moran Sandra Rosenblith Heather Wheel Burlington Bagel Bakery Larry & Rhonda Kost Sharyl Green & Francesca Moravcsik Kathleen Ryan Kimberly E. Wilkinson City Market Peter Lackowski Jane D. Kramer Kevin J. Morris & Lori Shaw & Teresa Witt Councilor Dave Berezniak & Janet E. Green Anne Kreisel Shelly M. Lafleur-Morris Anne Rodenrys Kelly Wood Luanne Sberna Susan Gregoire Raymond & Julie Kulig Edward & Linda Murphy Patricia Shea Peter Woolfson Crystal Rock / Vermont Pure Donna Greven & Aileen Lachs Christopher S. Mutty & Carol & Peter Shea Zulia’s Cleaning Service ECHO Lake Aquarium and Ellen Gilman Peg Thomas Science Center, at the Karen Lafayette Jim Shields Leahy Center for Lake Huck Gutman & Liza K. Laidman Selvaraj Natesan & Buff Lindau Banumathi Rangaiahnaider Jean M. Sienkewicz & I n Memory of Champlain Muriel Laliberte & Leigh Womack Marion Torpy Stephanie T. Hainley Robert & Helen Neudecker Ewe Turn Farm of Vermont Jean Bayne Bruce & Suzanne Simmons Nicholas & Susan Hardin Stephen Newing & Great Harvest Bread Barbara & David Lamonda Lloyd & Martina Simons Anonymous/Unknown (5) Heather Cherry-Newing Green Mountain Coffee Betsy Hardy Herschel & Rhonda Lapidow Margie W. Sisco Sheila Arnold Roasters Janet Harvey-Coutrayer & Peter Nobes & Deborah J. Lawrence Therese Caissie George Coutrayer Lisa Simon Mary A. Skelton Homeport Dana Lee & Jeffrey Nolan & Willard F. Smith John E. Davis & Kountry Kart Deli Gerald W. Hayden Stephanie Bush Beth Taylor-Nolan Bonnie Acker Mark & Linda Snelling Lake Champlain Chocolates James Hayford Melinda Lee Thomas & Carrie Nolting Chris Donnelly & Kim Snow Leonardo’s Pizza Rep. Helen Head Larry Lewack & Nina Chill Michele & Michael Noonan Jeffrey & Kristy Spengler Linda Henderson Peg MacDonald Housing Vermont Lyn Soon Hull Zoran & Jasna Nukic Julie & Scott Springer Cynthia A. Hennard James Libby Mr. & Mrs. Terry Pegler Majestic 10 Susan Nyland Jessica A. Stoehr Ericka L. Hest Joan E. Lippmann Brenda Torpy & Manhattan Pizza & Pub Colleen Oettinger Tasha L. Holbrook James Little Patricia Stone Ken Messing Mirabelles Amie Paquette Daniel J. Hoose Carol Livingston & Peter & Jo Ellen Swaine Volunteer Bureau of Pizza Putt Arthur Pare April Howard Gary Golden Barbara Swinton Montreal Radio Deli Kongpo Penpa & Free Tibet Howard Center for Human Richard Loveless Menelaos Symeonides Amy Wright & Red Onion Cafe Nari E. Penson Gil Livingston Services Linda & Thomas Mansfield Josh & Susan Tappan Rozzi’s Lakeshore Tavern Peter Perkins Carol Jaramillo Shelley A. Marshall Leslie Thayer Silver Maple Editions LLC Linda Pervier William Johnson Marcia L. Mason Adena L. Therrien Spice of Life Catering Dot & Dart Peterson Mia Joiner-Moore & Lisa & Craig Matanle Michelle Thomas Sugarsnap Elizabeth Moore Laurene Peterson Peter J. Matta II James R. Thompson Twincraft Soap Elizabeth Jones Adam Piper Rita McDonald Randy & Candy Trayah Vermont Teddy Bear Joseph & Lorraine Jordan Douglas & Meghan McGee Christine M. Ploof David A. Tudhope Company Isaiah & Meghan Keepin Kerry McManamon Michael & Diana Prue Randy Turner Brendan & Kathy Keleher Rebecca McNamara Anita Rapone & Stephen & Shona Unsworth Charles Simpson Design: Jon Shenton Andrea L. Kelly Will McNulty Lynn Vera Donald & Mary Rathbone Editor: Chris Donnelly Richard T. Kemp Sharon McSweeney Judith E. Ververs Photography:  Jon Shenton Anne Kennison Bernard G. Ravenelle Kristina Melton & Richard Vincent Brett Lupfer page 12 Rob Reiber & Barbara Kester Michelle Geoffrion Ann Vivian & CHT Staff pages 8 & 9 Mary A. Rogers Zoltan B. Keve Laura A. Merriam & Douglas Viehmann Mary Claire Carroll page 8, Enosburg Falls Theodore & Helen Riehle Francis Benoit Printing: Villanti Printing, Inc.

16 | CHAMPLAIN HOUSING TRUST ANNUAL REPORT 2010 STAFF Board

Melissa Abdel-Mawgood Liz Curry* Steve Grodan Jaclyn Marcotte Kandi Thermansen Paul Bohne, President Susan Ainsworth-Daniels Josie Curtin Bill Groseclose Jennifer Martin Brenda Torpy Willie Pearson, Vice President Herve Airoldi* Patrick Dattilio Susan Halstead Tony Mazza Skip Trahan Tim Gutchell, Treasurer James Baker Lynn Davis Tiana Hartman Michael McCaffrey Larry Trombly Noelle MacKay, Secretary Shelbe Barone* Amy Demetrowitz Janet Harvey-Coutrayer Renee McLaughlin Avisa Tuiqere L. Randolph Amis Jeff Bergeron Chris Donnelly Emily Higgins Kerry McManamon Steven Vasseur John E. Davis Anne Borchers David Drew Judy Hines Dan Mendl Yvon Verville William Dorsch Kathy Boumil* Laurie Drew Rebecca Hotaling Michael Monte Daniel Verwey Rosalyn Graham Mike Bourgea Pam Ducharme Lyn-Soon Hull* Kim Moran William Welcome Richard Kemp Lee Buffinton David Ellsworth-Keller Jusinta Katon Alan Perry Dennis Wiliams Frank Lenti James Burns* Richard Farr Sandy Kilburn Cheryl Read Barbara Wright* David McFeeters Josh Chant Pete Fisher Anneliese Koenig Rebecca Rectenwald Darcy Young Adam Piper Marie Clark Molly Fournier Rob Leuchs Gordon Rowe Joe Reinert Michelle Connor Barbara Geries Thelma Lonergan* Jon Shenton * Left CHT in FY 10 Al Voegele Anthony Currier Chris Gillis Denisa Macias Stacy Silloway* Julia Curry Brandy Gratton Linda Mansfield Josh Tappan As of September 30, 2010

We e ar proud to be affiliated with the following organizations. Their advice, leadership and support makes our work possible. 88 King Street, Burlington, VT 05401 www.champlainhousingtrust.org www.getahome.org TOLL FREE 877-274-7431

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