Latest news with #AlexFarrell
BBC News
14-02-2025
- Business
- BBC News
Lichfield District Council agrees £1.4m community funding plans
Plans to distribute more than £1.4m in funding to six community projects across Lichfield district have been agreed. The funding has been generated by the Community Infrastructure Levy (CIL) which collects financial contributions from developers building projects in the biggest beneficiary of the funding is Stoke and Staffordshire Integrated Care Board, which is set for more than £1.1m for a new primary health centre in sums include £200,000 to help cover phase two of the Tamworth Road canal restoration and £45,000 for a multi-use games area in Alrewas. The levy allows Lichfield District Council to spend the money on strategic infrastructure such as safer road schemes, flood defences, schools, and social care facilities. Other projects that have been approved include a community park in Elford, speed awareness signs in Drayton Bassett, and the introduction of yellow lines along Common Lane in a cabinet meeting of the Conservative-led authority on 11 February, councillor Alex Farrell, Conservative, said some priorities for CIL were set last year."The priorities are broadly health care provision, transport infrastructure, environment and biodiversity and lower carbon initiative and the carbon investment fund," he questions were raised over why some projects which applied for funding were not Richard Cox, Conservative, said: "I find it strange to work out why some are not included in terms of leisure and sporting activities. I find these groups really add absolute value to our communities. "I think without them our communities are very much at a poorer state. So I am going to say I'm rather disappointed in that, although I understand the criteria."Some of the projects to miss out on funding include the expansion of facilities at Chasetown Football Club; hockey pitch resurfacing at Lichfield Hockey Club, and roof replacement for a scouts response Farrell said: "This CIL process takes place each year and we can revise the priorities each year."This year has been fairly strong towards health, lots of money has gone towards this health centre in Burntwood. I'm hoping next year we can definitely evolve some of the sports clubs." Follow BBC Stoke & Staffordshire on BBC Sounds, Facebook, X and Instagram.
Yahoo
31-01-2025
- Business
- Yahoo
Vermont needs to build 7,000 homes annually for 25 years to meet demand, says new study
A new study shows Vermont needs to build 7,000 new homes every year for the next 25 years − a total of 172,000 new homes − to keep up with demand and end its chronic housing shortage by 2050. If that sounds daunting, it is. The state's peak year for building homes was 4,800 in 1988. In 2023, building permits were issued for 2,456 homes statewide, an improvement over the historic low of 1,300 permits in 2011 − but nowhere near the 7,000 new homes annually that are required, according to the study. "We have got to pick up the pace," Commissioner Alex Farrell of the Department of Housing and Community Development (DHCD) said in a statement. "These targets reinforce what we already know: we are not adding new homes fast enough to meet current demand, let alone even modest growth." The study was done by DHCD in collaboration with the Vermont Association of Planning and Development Agencies (VAPDA) and the Vermont Housing Finance Agency (VHFA). Looking out five years to 2030, the study finds that for Vermont to address its demographic challenge it needs to add 41,000 new rental and owner-occupied residences. That translates to 8,200 housing units per year for the next five years. "As regional planners, we recognize that these statewide and regional numbers may be a lot for some municipalities to absorb," Devon Neary, executive director of the Rutland Regional Planning Commission, said in a statement. "We are committed to work with local cities and towns to help break the numbers down to achievable goals over time." Neary is also the VAPDA chair. In its own study, Vermont Housing Needs Assessment for 2025-2029, VHFA gave a range of homes required by 2050 from 79,000 to 172,000, with the high end mirroring the number from the DHCD study. On a percentage basis, VHFA calculated that kind of growth in housing stock requires average annual pace of increase of 0.8-1.6%, which translates to between 3,160 and 6,880 homes per year. By way of comparison, in the 10 years from 2010 to 2020, Vermont's housing stock increased by an average rate of 0.4%, which translates to 1,178 homes per year. Clearly, the goals for increased housing being laid out will require a revolution in homebuilding. The VHFA study finds Vermont's housing deficit is defined by the following gaps: The slow rate of home development since 2000 has not kept pace with the demand to live in Vermont. The period from 2010-2020 had the slowest annual rate of home development in Vermont since 1950-1960. As a result, the housing stock in Vermont is amongst the oldest in the country, which has contributed to low vacancy rates and quick turnover of homes for both buyers and renters. The shortage of housing stock is further compounded by the prevalence of seasonal and other secondary use homes in Vermont. These homes, many of which are not suitable for year-round use, have been a feature of Vermont's housing stock for decades; Vermont has been in the top 3 states for its percentage of housing stock used as seasonal homes since 1940. Today more than 15% of all homes in the state (about 50,000) are used as seasonal homes. Vermont's population is the third oldest in the country. Older Vermonters who are staying in their homes after they retire have kept many homes out of the market for younger potential buyers. As a result, many homes are not being fully utilized − "under-occupied," according to the study − while the state's population continues to trend older. After years of negligible net migration into the state, the rate of in-migration to the state increased substantially during 2021 and 2022 because of the Covid-19 pandemic. This increase, while modest in overall number, was likely enough to influence the already precarious housing market. Vermont home prices and rents have increased at a higher rate since 2020 than in the five years before the pandemic. Contact Dan D'Ambrosio at ddambrosi@ Follow him on Twitter @DanDambrosioVT. This article originally appeared on Burlington Free Press: Vermont faces daunting task to keep up with housing demand
USA Today
31-01-2025
- Business
- USA Today
Vermont needs to build 7,000 homes annually for 25 years to meet demand, says new study
Vermont needs to build 7,000 homes annually for 25 years to meet demand, says new study Show Caption Hide Caption Existing home sales fall to lowest level since 1995 The latest home sales numbers painted a discouraging picture for the real estate industry as sales fell to the lowest level since 1995. Straight Arrow News A new study shows Vermont needs to build 7,000 new homes every year for the next 25 years − a total of 172,000 new homes − to keep up with demand and end its chronic housing shortage by 2050. If that sounds daunting, it is. The state's peak year for building homes was 4,800 in 1988. In 2023, building permits were issued for 2,456 homes statewide, an improvement over the historic low of 1,300 permits in 2011 − but nowhere near the 7,000 new homes annually that are required, according to the study. "We have got to pick up the pace," Commissioner Alex Farrell of the Department of Housing and Community Development (DHCD) said in a statement. "These targets reinforce what we already know: we are not adding new homes fast enough to meet current demand, let alone even modest growth." The study was done by DHCD in collaboration with the Vermont Association of Planning and Development Agencies (VAPDA) and the Vermont Housing Finance Agency (VHFA). The challenge over the next five years is equally daunting Looking out five years to 2030, the study finds that for Vermont to address its demographic challenge it needs to add 41,000 new rental and owner-occupied residences. That translates to 8,200 housing units per year for the next five years. "As regional planners, we recognize that these statewide and regional numbers may be a lot for some municipalities to absorb," Devon Neary, executive director of the Rutland Regional Planning Commission, said in a statement. "We are committed to work with local cities and towns to help break the numbers down to achievable goals over time." Neary is also the VAPDA chair. Slow rate of home development in the past 25 years hasn't kept pace with demand to live in Vermont In its own study, Vermont Housing Needs Assessment for 2025-2029, VHFA gave a range of homes required by 2050 from 79,000 to 172,000, with the high end mirroring the number from the DHCD study. On a percentage basis, VHFA calculated that kind of growth in housing stock requires average annual pace of increase of 0.8-1.6%, which translates to between 3,160 and 6,880 homes per year. By way of comparison, in the 10 years from 2010 to 2020, Vermont's housing stock increased by an average rate of 0.4%, which translates to 1,178 homes per year. Clearly, the goals for increased housing being laid out will require a revolution in homebuilding. The VHFA study finds Vermont's housing deficit is defined by the following gaps: The slow rate of home development since 2000 has not kept pace with the demand to live in Vermont. The period from 2010-2020 had the slowest annual rate of home development in Vermont since 1950-1960. As a result, the housing stock in Vermont is amongst the oldest in the country, which has contributed to low vacancy rates and quick turnover of homes for both buyers and renters. The shortage of housing stock is further compounded by the prevalence of seasonal and other secondary use homes in Vermont. These homes, many of which are not suitable for year-round use, have been a feature of Vermont's housing stock for decades; Vermont has been in the top 3 states for its percentage of housing stock used as seasonal homes since 1940. Today more than 15% of all homes in the state (about 50,000) are used as seasonal homes. Vermont's population is the third oldest in the country. Older Vermonters who are staying in their homes after they retire have kept many homes out of the market for younger potential buyers. As a result, many homes are not being fully utilized − "under-occupied," according to the study − while the state's population continues to trend older. After years of negligible net migration into the state, the rate of in-migration to the state increased substantially during 2021 and 2022 because of the Covid-19 pandemic. This increase, while modest in overall number, was likely enough to influence the already precarious housing market. Vermont home prices and rents have increased at a higher rate since 2020 than in the five years before the pandemic. Contact Dan D'Ambrosio at ddambrosi@ Follow him on Twitter @DanDambrosioVT.
Yahoo
27-01-2025
- Business
- Yahoo
New study shows Vermont needs to build 7,000 homes annually for 25 years to meet demand
A new study shows Vermont needs to build 7,000 new homes every year for the next 25 years − a total of 172,000 new homes − to keep up with demand and end its chronic housing shortage by 2050. If that sounds daunting, it is. The state's peak year for building homes was 4,800 in 1988. In 2023, building permits were issued for 2,456 homes statewide, an improvement over the historic low of 1,300 permits in 2011 − but nowhere near the 7,000 new homes annually that are required, according to the study. "We have got to pick up the pace," Commissioner Alex Farrell of the Department of Housing and Community Development (DHCD) said in a statement. "These targets reinforce what we already know: we are not adding new homes fast enough to meet current demand, let alone even modest growth." The study was done by DHCD in collaboration with the Vermont Association of Planning and Development Agencies (VAPDA) and the Vermont Housing Finance Agency (VHFA). Looking out five years to 2030, the study finds that for Vermont to address its demographic challenge it needs to add 41,000 new rental and owner-occupied residences. That translates to 8,200 housing units per year for the next five years. "As regional planners, we recognize that these statewide and regional numbers may be a lot for some municipalities to absorb," Devon Neary, executive director of the Rutland Regional Planning Commission, said in a statement. "We are committed to work with local cities and towns to help break the numbers down to achievable goals over time." Neary is also the VAPDA chair. In its own study, Vermont Housing Needs Assessment for 2025-2029, VHFA gave a range of homes required by 2050 from 79,000 to 172,000, with the high end mirroring the number from the DHCD study. On a percentage basis, VHFA calculated that kind of growth in housing stock requires average annual pace of increase of 0.8-1.6%, which translates to between 3,160 and 6,880 homes per year. By way of comparison, in the 10 years from 2010 to 2020, Vermont's housing stock increased by an average rate of 0.4%, which translates to 1,178 homes per year. Clearly, the goals for increased housing being laid out will require a revolution in homebuilding. The VHFA study finds Vermont's housing deficit is defined by the following gaps: The slow rate of home development since 2000 has not kept pace with the demand to live in Vermont. The period from 2010-2020 had the slowest annual rate of home development in Vermont since 1950-1960. As a result, the housing stock in Vermont is amongst the oldest in the country, which has contributed to low vacancy rates and quick turnover of homes for both buyers and renters. The shortage of housing stock is further compounded by the prevalence of seasonal and other secondary use homes in Vermont. These homes, many of which are not suitable for year-round use, have been a feature of Vermont's housing stock for decades; Vermont has been in the top 3 states for its percentage of housing stock used as seasonal homes since 1940. Today more than 15% of all homes in the state (about 50,000) are used as seasonal homes. Vermont's population is the third oldest in the country. Older Vermonters who are staying in their homes after they retire have kept many homes out of the market for younger potential buyers. As a result, many homes are not being fully utilized − "under-occupied," according to the study − while the state's population continues to trend older. After years of negligible net migration into the state, the rate of in-migration to the state increased substantially during 2021 and 2022 because of the Covid-19 pandemic. This increase, while modest in overall number, was likely enough to influence the already precarious housing market. Vermont home prices and rents have increased at a higher rate since 2020 than in the five years before the pandemic. Contact Dan D'Ambrosio at 660-1841 or ddambrosi@ Follow him on Twitter @DanDambrosioVT. This article originally appeared on Burlington Free Press: Vermont faces daunting task to keep up with housing demand, study shows
