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Champlain Housing Trust MISSION The Champlain Housing Trust is a community land trust that supports strong, vital communities in northwest Vermont 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 affordable housing. 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 apartments 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 apartment, 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 condominium 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 house, 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.
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