From the State Treasurer's Office:
Treasurer Mike Pieciak will join state and local leaders for a press conference on Monday, February 2, to unveil a second round of transformational housing investments awarded through his office’s 10% in VT program.
The announcement will take place at Hula, where leaders have sought funding for an ambitious housing project, Ride Your Bike—a major component of a transformative development bringing over one thousand new homes to Burlington’s South End.
The 10% in VT program authorizes the Treasurer’s Office to invest 10% of the State’s average daily cash balance into projects that grow Vermont’s economy and the State’s revenues. The funds, issued through low-interest loans, offset high interest rates that would otherwise make projects difficult, if not impossible, to finance.
In 2023, Treasurer Pieciak dramatically expanded the program’s lending capacity and invested over $100 million to address Vermont’s acute housing shortage. These investments are already paying off, supporting the development of nearly 1,300 homes across a spectrum of Vermont’s housing needs. Funds have also leveraged over $345 million in private and public capital and created over 100 permanent new jobs.
In July 2025, Treasurer Pieciak announced additional funding available through the 10% in VT program for local investment in housing and economic development.
These investments, to be announced on February 2, will finance a range of desperately needed housing projects sparking future investment in Vermont’s cities, downtowns, and rural communities, unlocking their economic potential for generations to come.
Speakers include:
- State Treasurer Mike Pieciak
- Burlington Mayor Emma Mulvaney-Stanak
- Maura Collins, VHFA Executive Director
- Sarah Furman, Heritage Family Credit Union Chief Lending Officer
- Russ Scully, Hula Founder
For more information visit: https://www.vermonttreasurer.gov
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