WESTMINSTER -- The Windham & Windsor Housing Trust will soon receive a six-figure loan, in large part by way of a $1.9 million community development grant from the state to municipalites, which included Westminster.
The town plans to loan the trust $150,000 -- with a $30,000 local match -- to substantially rehabilitate a multi-family property at 213 Gage St. in North Westminster. The renovations will increase the number of units from four to six to serve that many low- and moderate-income households.
Westminster Town Manager Matt Daskal said the project dates back to April and the block grant money comes from the Vermont Community Development Program, which is part of the Department of Economic, Housing and Community Development within the state's Agency of Commerce & Community Development.
He said the local match will come out of the Westminster Community Development Revolving Loan Fund.
Connie Snow, the executive director of the Windham & Windsor Housing Trust, said the money will be a great benefit to an historic building.
"I think it will breathe 30 years of life in the building," she said. "So it will be a great project."
Snow said what started out as the Windsor Housing Trust became consolidated with the Rockingham Area Community Land Trust in May 2011, and its name was changed. She said property in need of restoration in North Westminster and Chester was then acquired.
"(Westminster) was very gracious
Daskal said the money is going to a wonderful cause.
"I think it's a great benefit to the community," he said. "And (getting the grant) is a strong indication of our community's competitiveness in these tough economic times."
Domenic Poli can be reached at email@example.com, or 802-254-2311, ext. 277.