Current News

Vermont Business Magazine David G White, CRE, President, White + Burke Real Estate Investment Advisors, Inc. has shared the 2018-19 Top Ten Issues Affecting Real Estate—the issues and trends most likely to impact commercial and residential real estate. White is a member of The Counselors of Real Estate, the global professional association which annually creates this list. Members of The Counselors organization are recognized property experts who provide specialized, objective real estate advisory services to clients.

White, a credentialed Counselor of Real Estate (CRE) since 1994, explains that the list is categorized by Current and Longer-Term issues.

Current Issues
1. Interest Rates & The Economy
2. Politics & Political Uncertainty
3. Housing Affordability
4. Generational Change/Demographics
5. E-commerce & Logistics

Vermont Business Magazine This week, the US Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) announced a $4,628,765 grant awarded to the non-profit organization Farm Fresh RI, in partnership with NOFA-VT and other non-profits in New England states. The money will go towards expanding their work increasing access to fresh, locally grown foods across New England.

USDA-Backed “Factory Farm” Takeover of Organic Milk Production Crushing Family-Scale Farmers and Forcing Them Out of Business

Vermont Business Magazine Kimball Brook Farm in North Ferrisburgh has received a coveted four-cow rating of organic dairy brands by The Cornucopia Institute, a Wisconsin-based organic industry watchdog. “With organic stakeholders failing to pressure the USDA to enforce laws cracking down on giant factory farms with as many as 15,000 cows, mostly in the desert west, ethical producers like Kimball Brook Farm give consumers the ability to support the true heroes in this industry,” said Mark A Kastel, senior farm policy analyst for Cornucopia.

Vermont Business Magazine To prevent flooding on nearby roads, the Vermont Fish & Wildlife Department recently completed construction of 19 water control devices on beaver dams in locations throughout Vermont. Known as ‘beaver baffles’ these devices allow some water to pass through the dam without breaching the dam and destroying the wetland. The Fish & Wildlife Department expects to continue to install additional beaver baffles throughout the state this year.

The baffles are one of many techniques that department staff employ or recommend to landowners to minimize beaver damage to property or trees. Other techniques include using fences to protect culverts, or placing wire mesh or special paint around the base of trees to prevent gnawing.

Vermont Business Magazine With nearly of 500 square miles of water in a beautiful setting, Lake Champlain is what a boater's dreams are made of. However, boat traffic can have unintended impacts on the lake. That is why the Burlington Boathouse Community Marina is Joining the effort to preserve the Lake for everyone to enjoy. Burlington Community Boathouse Marina will become the Vermont Green Business Program's newest member, after having achieved ambitious environmental standards that protect Lake Champlain.

Vermont Business Magazine Vermont Attorney General TJ Donovan has announced some recent actions taken by his office to protect Vermont’s environment. “Protecting Vermont’s environment is one of my top priorities as Attorney General,” said Attorney General Donovan. “Vermonters care about our environment and are worried about the threats it faces. They want and deserve clean water to drink and clean air to breathe. My team and I remain committed to working every day – here in Vermont and on the national level – to do our part to protect Vermont’s environment from harm.”

Recent actions taken by the Attorney General include:

Vermont Business Magazine The Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) is advising local residents to act now to prepare their homes and families for potential flash flooding due to heavy summer rains. With the steadily rising waters of Lake Champlain and the Winooski River, Burlington residents who live in flood-prone areas need to act today to protect their homes.

Floods are the most common natural disaster in the United States, and damage can be costly for residents.

Local residents should consider these four tips:

Vermont Business Magazine Glenn Lavoie, AGC/VT President and Senior Vice President of Winterset Inc. of Lyndonville and the Board of Directors, has announced the appointment of Richard J. Wobby, Jr. as the next Executive Vice President of The Associated General Contractors of Vermont. He will be succeeding Cathleen Lamberton who is fully engaging in her emotional fitness business Cathleen L, on September 14, 2018, after nine years in the position.

Wobby has had the position of Director of Safety Training and Membership for close to twenty years. Well steeped in workplace safety issues, Wobby is well known in the Vermont construction industry for his acumen concerning rules and regulations promulgated by the Occupational Safety & Health Administration (OSHA) and the US and Vermont Departments of Labor concerning safety and health in gravel pit operations.

Vermont Business Magazine Champlain College has completed its $36 million downtown student housing project in anticipation of more than 300 students moving in later this week for the start of the 2018-2019 academic year. The building, known as 194 St Paul Street, was designed to provide housing for upper-class undergraduate students looking to live in suite-style apartment accommodations. The mixed-use, six-level complex contains 105 apartments for 314 Champlain students. Along St Paul Street, there is also approximately 4,400 square feet of street-level retail space and 53 covered parking spaces available to the public and accessible from King Street and Maple Street.

The project, located downtown on the site of the former Eagles Club and Browns Court parking lot, is located on St Paul Street between King and Maple. Work began on the project in January 2017.

by Timothy McQuiston, Vermont Business Magazine After a torrid pace to the last half of the last fiscal year, General Fund revenues fell below targets for the first month of the new fiscal year. Tax revenue projections were raised because of the strong finish to Fiscal Year 2018. The vital Personal Income tax is up about 10 percent above last year's actual collections. It came in just under 9 percent above last July. General Fund revenues for July totaled $80.55 million, or -$0.87 million below the consensus revenue target adopted by the Emergency Board on July 27, 2018, according to Secretary of Administration Susanne Young. The below-target performance was driven by a -$0.61 and -$1.5 million under-performance in the Personal Income and Inheritance and Estate taxes respectively.

by Timothy McQuiston, Vermont Business Magazine He even looks the part. Waterbury-based Ben & Jerry's - the progressive ice cream maker known for its chunk-and-swirl-laden flavors, irreverent sense of humor, sometimes iffy puns and work as an aspiring social justice company - has named Matthew McCarthy its new Chief Executive Officer. McCarthy, a 21-year veteran at Ben & Jerry's parent company, Unilever, took over July 1, 2018.

The new CEO has wasted no time challenging the business to "double its social impact," attesting it will also lead to continued performance in the marketplace and meeting Ben & Jerry's triple bottom line focus on producing the world's best ice cream, earning a fair profit, and giving back to the community.

Vermont Business Magazine The University of Vermont Medical Center today released its Form 990 for fiscal year 2017. The annual filing, which is required for all nonprofit organizations, includes information about community benefit investments and other details about the UVM Medical Center’s governance. The form includes revenue and expense figures, compensation of top wage earners and provides a glimpse into the organization’s work to fulfill its mission as the region’s only academic medical center, Level 1 trauma center, children’s hospital and the community hospital for Chittenden and Grand Isle Counties.

In FY 2017, the UVM Medical Center’s community benefits totaled $193 million – up approximately $20 million from FY 2016 – and includes free care, grants to community organizations, and underpayments in Medicaid and other programs. This represents approximately 16.2% of total expenses.