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      </GrossInvestmentIncome509>
      <InvestmentIncomeAndUBTI>
        <CurrentTaxYearMinus4Years>2454</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>2552</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>1295</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>2389</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>3342</CurrentTaxYear>
        <Total>12032</Total>
      </InvestmentIncomeAndUBTI>
      <TotalSupportTotal>
        <Total>3007085</Total>
      </TotalSupportTotal>
      <First5Years509>X</First5Years509>
      <PublicSupportPercentage509>0</PublicSupportPercentage509>
      <InvestmentIncomePercentage>0</InvestmentIncomePercentage>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="00000003" softwareId="10000104">
      <Buildings>
        <OtherCostOrOtherBasis>4165448</OtherCostOrOtherBasis>
        <BookValue>4165448</BookValue>
      </Buildings>
      <TotalOfBookValueLandBuildings>4165448</TotalOfBookValueLandBuildings>
      <TotalRevenue>2998395</TotalRevenue>
      <TotalExpenses>274222</TotalExpenses>
      <ExcessOrDeficitForYear>2724173</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>2724173</ExcessOrDeficitPerFS>
    </IRS990ScheduleD>
    <IRS990ScheduleK documentId="00000004" softwareId="10000104">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>VT HOUSING FINANCE AGENCY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>030239902</IssuerEIN>
        <CUSIPNumber>92419PAY2</CUSIPNumber>
        <DateIssued>2010-10-29</DateIssued>
        <IssuePrice>10300000</IssuePrice>
        <DescriptionOfPurpose>Mortgage revenue Bond</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>10300000</TotalProceeds>
        <CapitalExpenditures>4165448</CapitalExpenditures>
        <AmountUnspent>6134552</AmountUnspent>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>false</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="00000005" softwareId="10000104">
      <LoanTable>
        <NamePerson>ROBERT ALBERTS</NamePerson>
        <PurposeOfLoan>Advance for contruction costs</PurposeOfLoan>
        <LoanToOrganization>X</LoanToOrganization>
        <OriginalPrincipalAmount>20094</OriginalPrincipalAmount>
        <BalanceDue>121922</BalanceDue>
        <Default>false</Default>
        <ApprovedByBoard>true</ApprovedByBoard>
        <WrittenAgreement>true</WrittenAgreement>
      </LoanTable>
      <LoanTable>
        <NamePerson>ROBERT ALBERTS</NamePerson>
        <PurposeOfLoan>Advance for construction cost</PurposeOfLoan>
        <LoanToOrganization>X</LoanToOrganization>
        <OriginalPrincipalAmount>2435157</OriginalPrincipalAmount>
        <BalanceDue>2435157</BalanceDue>
        <Default>false</Default>
        <ApprovedByBoard>true</ApprovedByBoard>
        <WrittenAgreement>true</WrittenAgreement>
      </LoanTable>
      <TotalBalanceDue>2557079</TotalBalanceDue>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="00000006" softwareId="10000104">
      <GeneralExplanation>
        <Identifier>Pt VI-B, Line 11a</Identifier>
        <Explanation>Organization's process to review Form 990: The Board of Directors</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>reviews the 990 after it is filed. Prior to filing the president</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>and treasurer review the Form 990.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI-C, Line 19</Identifier>
        <Explanation>Governing Documents Disclosure explanation: upon request Eastview at Middlebury</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>would setup a meeting in reasonable time for any request of documents to be completed.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI-A, Line 6</Identifier>
        <Explanation>The Organization has board members.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VII, section B</Identifier>
        <Explanation>Independent Contractors compensated more then $100,000-omited to include contractor on original return.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part VII, section A</Identifier>
        <Explanation>Included one director in 2009 return who became a board member</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>in march 2010, removed as a director in Amended 2009 Form 990</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Part III, line 4d</Identifier>
        <Explanation>All other acheivements-total program services performed in the exempt organization.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part IX, Line 24f</Identifier>
        <Explanation>DUES &amp; SUNSCRIPTIONS 334. 0. 334. 0. PRINTING &amp; REPRODUCTION 8918. 0. 8918. 0. PROJECT MANAGER 1300. 1300. 0. 0. PROPERTY/PROJECT APPRAISAL 11000. 11000. 0. 0. PROPERTY TAXES 28688. 28688. 0. 0. SETTLEMENT EXPENSE 20000. 0. 20000. 0. MARKETING 2305. 2305. 0.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>