State & Local News
Vermont Expands Housing Loan Program
March 20, 2026
The Vermont House unanimously approved legislation (H.775) expanding the State Treasurer Mike Pieciak's 10% in VT program, increasing its lending capacity by 2.5% and unlocking an additional $30 million for affordable and workforce housing projects statewide. Concurrently, the Treasurer partnered with Bank of Bennington to launch the $2.5 million Building Up Bennington County program, providing low-cost loans to homebuilders to address the housing shortage in Bennington County. These initiatives aim to stimulate housing construction, economic growth, and tax base expansion across Vermont, supporting over 1,700 homes to date.
- The expanded 10% in VT program increases state-backed lending capacity, enabling more affordable housing projects to secure low-interest financing.
- The Building Up Bennington County partnership offers targeted funding to homebuilders, reducing construction costs and accelerating project timelines in a key regional market.
- Procurement professionals should note the growing role of state treasurer-led financing programs in housing development, presenting opportunities for lenders, developers, and contractors.
- These programs demonstrate effective public-private collaboration models that can be leveraged for future housing and economic development initiatives in Vermont and similar jurisdictions.
When we build more homes, we grow the local grand list, which helps support schools, infrastructure, and public services. Towns can’t solve the housing challenge alone. Partnerships like this make real progress.
— Tom Haley, Chair, Bennington Selectboard
People want to move here and communities want to grow, but that demand is running headfirst into our housing shortage. The Building Up Bennington County program will make it cheaper to build homes, so working- and middle-class Vermonters can afford them—supporting a stronger economy and brighter future for the region and our state.
— Mike Pieciak, State Treasurer
This is a prudent expansion of the 10% in VT program that will allow our office to make more critical investments in housing across Vermont—making it cheaper to build homes, helping more projects break ground, and moving the needle on our significant housing shortage.
— Treasurer Pieciak
Agencies
Office of the State Treasurer, Vermont State Treasurer's Office, Vermont House of Representatives, Bennington County Regional Commission, Bennington Selectboard
Vendors
Bank of Bennington
Contracts
$2.5 million