Remarks of Sen. Bernie Sanders

It is a real pleasure to be here with you today in the heart of Burlington's Old North End, celebrating Champlain Housing Trust's 500^th home.

This may seem like ancient history, but when I was mayor of Burlington, Brenda was my very first director of housing in the newly-created CEDO office.  One of my proudest accomplishments as mayor was working with Brenda - and Michael Monte, who is also now with CHT - to create the first municipally-funded community land trust in the nation. 

It's hard to believe now, but in 1984 it was considered a "radical" idea to create homeownership opportunities for low- and moderate-income Vermonters by taking land off the speculative market, and to require housing developed with government subsidies to remain permanently affordable, rather than just for 10, 15 or 20 years. 

Well, here we are, 27 years and 500 homes later.  Champlain Housing Trust has become the largest community land trust in the nation - providing affordable homeownership across northwestern Vermont for people who would otherwise be shut out of the market.

And while there may be a few people out there that still bristle at the idea, each and every one of CHT's 500 homes will remain permanently affordable, generation after generation. 

This is an incredible accomplishment; and I congratulate you Brenda - and your staff, and your board, and the hundreds of people who have volunteered for CHT over the years.

It is no wonder that communities from across the country - and increasingly, from across the globe - look to CHT as an innovative and effective model to address the pressing need for affordable housing.

However, we must not rest on our laurels.  It is no secret that many Vermonters are struggling economically; decent affordable housing is hard to come by; and many low and moderate income households are spending 50 percent or more of their limited income on housing.

Over the past decade incomes have not come close to keeping pace with the escalating costs of housing in Vermont, which has caused a significant "housing affordability gap."  An estimated 38% of Vermont owners are now cost-burdened.  On the rental side, 47% are cost-burdened, making Vermont the 17^th worst state in the nation.

Clearly, we must invest more, not less, in affordable housing.  For example, we must finally fund the National Housing Trust Fund - to help build the affordable housing that we desperately need, and in the process, create millions of good-paying jobs right here in the United States.

However, the reality is that affordable housing programs are facing massive cuts in Washington; the result of the terrible deficit reduction deal passed earlier this year.  Nobody disagrees that we need to address the deficit, but it is simply unconscionable to balance the budget on the backs of working families, the elderly, children, the sick and the poor.

Brenda, let me conclude by saying that while the challenges ahead are significant, CHT has shown how to get the job done here at the local level.  That is why I am very happy to stand with you today to celebrate this very impressive milestone.  Congratulations, again.