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North Notes

North Notes Summer 2023 — Summer 2023

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About Evernorth

Evernorth is a nonprofit organization that provides affordable housing and community investments in Maine, New Hampshire, and Vermont. Evernorth has raised and deployed over $1 billion in equity capital for affordable housing and built more than 16,000 affordable homes for low- and moderate-income people across northern New England.

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Latest News

28Sep

Evernorth Rural Ventures Awarded $60 Million in New Markets Tax Credits from U.S. Treasury Department

FOR IMMEDIATE RELEASE September 27, 2023 On Friday, September 22, 2023, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) announced Evernorth Rural Ventures, a subsidiary of Evernorth, was awarded a $60 million allocation of New Markets Tax Credits (NMTC) to continue its successful economic and community development work in low-income areas. This is Evernorth Rural Ventures’ 7th award.

14Aug

$11.4 Million in New Markets Tax Credit Allocation Secured for the Redevelopment of the Iconic “Yellow Barn” in Hardwick, VT

FOR IMMEDIATE RELEASE August 14, 2023 [Hardwick, VT] - Evernorth Rural Ventures and Massachusetts Housing Investment Corporation (MHIC) are pleased to announce the closing of $11.4 million in New Markets Tax Credit (NMTC) allocation for the redevelopment of the iconic “Yellow Barn” in Hardwick, Vermont. The NMTC funding supports the construction of a new 25,137 square foot food business accelerator building and the adaptive reuse of the vacant, historic 4,762 square foot yellow dairy barn for use as a retail shop, collectively called the Yellow Barn Business Accelerator.

21Jul

Vermont Supreme Court Rules in Latest Challenge to Proposed Housing Community in Putney

FOR IMMEDIATE RELEASE July 21, 2023 [Purney, VT] The Vermont Supreme Court has rejected the latest appeal by opponents of a proposed affordable housing community on Alice Holway Drive in Putney. The ruling by the state’s highest court affirms the Environmental Court’s decision earlier this year rejecting an appeal to the project’s zoning permit. It marks the latest chapter of a 16-month legal process that began in March 2022 when an appeal was filed contesting the permit and delaying progress of the 25-unit mixed income development.

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