H.899 is a bill that seeks to enhance the financing options for multiunit housing developments in Vermont. It authorizes the Vermont Economic Development Authority (VEDA) to jointly finance projects with a financing lender, specifically for developments consisting of five or more units. This collaboration is to occur after consultation with the Vermont Housing Finance Agency (VHFA), ensuring that both entities are aligned on applications that qualify for financing from both organizations. However, the bill stipulates that VEDA is prohibited from financing any housing developments that receive funding from the VHFA.

The bill aims to streamline the financing process for multiunit housing, thereby promoting economic development and addressing housing needs in Vermont. By allowing VEDA to work in conjunction with VHFA, the legislation seeks to leverage resources effectively while maintaining clear boundaries regarding the use of funding sources.