Vermont Neighborhoods Law Expansion
In February, the Commissioner of Economic Development, Housing and Community Affairs proposed the House include a provision in the jobs bill expanding the Vermont Neighborhoods law to allow housing developers to more easily utilize the streamlined regulations offered by the program. The Vermont Neighborhoods law that passed a few years ago offers communities the chance to designate smart growth areas for new housing development. Act 250 is waived in those designated areas, subject to affordability and density requirements. Right now, only a municipality can nominate an area for this designation. Under the Shumlin Administration’s proposal, a developer would be able to nominate an area for the designation. The Commissioner negotiated a compromise with interested stakeholders and it was included in the House passed jobs bill.
The action on this item now moves to the Senate Economic Development Committee chaired by Senator Vince Illuzzi.