Current News

On February 20, 2015, Judge Thomas Durkin of the Vermont Superior Court Environmental Division issued an order approving a settlement agreement between the Vermont Natural Resources Council (VNRC), Jay Peak Resort, and the Vermont Agency of Natural Resources, Department of Environmental Conservation. This agreement will continue to improve water quality and protect streams adjacent to the fast-growing, four-season ski resort in northern Vermont.

“We have been concerned that for years these streams have failed to meet Vermont’s Water Quality Standards while land development has continued to discharge additional sediment pollution,” said Kim Greenwood, VNRC’s water program director and staff scientist. “It was a good investment of time and energy for VNRC to work with Jay Peak and the Department to figure out a good model for cleaning up water in Vermont,” said Greenwood.

Fifteen watershed improvement projects were chosen to receive funding from Vermont's 2015 Watershed Grant Program, according to an announcement from the Vermont Fish & Wildlife Department. Forty-four applications were received, requesting a total of $387,744. The 2015 available funding totaled $100,000 and the size of the individual grants to be awarded ranged from $3,500 to $14,000.

A watershed grant helped to fund this dam removal in 2014 on the Wells River in Groton, restoring free-flowing conditions and enabling upstream movement of fish. Photo by Rod Wentworth

The 2015 projects cover a range of water quality and aquatic habitat projects, including these examples in three categories:

Implementation

Vermont Business Magazine Uncertainty continued in February over Vermont’s revenues, as refunding activity skewed, for better or worse, results for the vital Personal Income Tax and for the Corporate Tax. Meanwhile, consumption taxes were disappointing in what is an important tourism month.

Secretary of Administration Justin Johnson today released the preliminary February fiscal year (FY) 2015 revenue results for the General, Transportation, and Education Funds. The revenue targets are based on the Consensus Revenue Forecast adopted by the Vermont Emergency Board on January 20, 2015.

Preliminary General Fund (GF) revenues totaled $71.25 million for February 2015, +$8.22 million or +13.05 percent above the monthly target. Year-to-date, GF receipts are $868.59 million, +$6.95 million or +0.81 percent above the cumulative target. The results are +$34.95 million or +4.19 percent above the year-to-date results of the prior fiscal year (FY 2014).

Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, today announced that its 2015 Annual Meeting will be held onThursday, May 28, 2015 at 10:00 AM Eastern Time. Stockholders of record of the Company's Common Stock as of the close of business on March 30, 2015 are entitled to vote at the Annual Meeting. The meeting will be held at The Essex Resort and Spa, 70 Essex Way, Essex Junction, Vermont 05452.

Public Service Department Commissioner Chris Recchia announced that the newly revised Vermont Residential and Commercial Building Energy Codes are in effect as of March 1, 2015. The Vermont Residential Building Energy Code, officially called the “Residential Building Energy Standards” (RBES), was initially adopted by the Vermont legislature in May 1997. The Vermont Commercial Building Energy Standards (CBES), was initially adopted in 2006. The legislation provides for regular review and updates to the provisions in the Code by the Public Service Department (PSD). The 2015 Residential and Commercial Building Energy Codes are based on Vermont amendments to the 2015 International Energy Conservation Code and are a minimum standard of energy efficiency that applies to all alterations and renovations for existing buildings, as well as new construction.

Dynapower Company, the global leader in energy storage inverters based in South Burlington, announced that it has completed installation of its market-leading MPS-100 inverter as part of an integrated micro-grid system at Black & Veatch's World Headquarters in Overland Park, Kansas. The renewable-energy-plus-storage micro-grid consists of 50 kilowatts (kW) of rooftop solar panels, two 65 kW natural gas micro-turbines, and a 100 kWh battery connected to the Dynapower MPS-100 kW energy storage inverter.

The system is designed for "behind-the-meter" (customer-sited) use, including both grid-connected and standalone operation (islanding) of a portion of the facility. The system also includes a self-guided computer touch screen in the World Headquarters that highlights the micro-grid's real-time performance for demonstration and educational purposes.

Vermont’s biggest harbinger of spring – maple sugar season – kicks off in March and continues through April with fairs, festivals, and family fun. As the largest producer of maple syrup in the US, Vermont knows how to celebrate the sweet stuff.

Depending on the festival, you may find a scavenger hunt, carnival, sleigh ride, or sugaring demonstration. Many will feature special treats such as maple cotton candy, maple kettle corn, or sugar-on-snow (served the traditional way with pickles and doughnuts). The granddaddy of them all is the Vermont Maple Festival in St. Albans April 24^th-26^th, but maple fests can be found throughout the state this spring:

Sugarbush Resort will receive a Governor’s Excellence in Worksite Wellness award at the 2015 Worksite Wellness conference at the Sheraton Hotel & Conference Center in Burlington, VT on March 25, 2015.

The resort is receiving the award thanks to its safety and wellness initiatives over the last year including offering tobacco cessation on site twice a year, creating a tobacco free environment, providing discounted or free membership for employees to the on-site Health and Racquet Club, and creating flexible work schedules to enable employee participation in wellness activities.

The initiatives have contributed to a decrease in lost time due to injury or illness, as well as increased participation of workplace contests, outings and activity attendance.

Senator Patrick Leahy (D-Vermont), Senator Bernie Sanders (I-Vermont) and Representative Peter Welch (D-Vermont) Wednesday announced $1.5 million in grants to revitalize communities and support access to affordable housing across Vermont. The announcement marks the first round of 2015 federal grants awarded by NeighborWorks America.

Leahy said: “Vermont’s NeighborWorks affiliates are on the front lines of creating jobs and stabilizing our communities by investing in affordable housing. Vermont, like the rest of the country, faces an extreme shortage of affordable housing. These investments will help our local NeighborWorks Organizations to continue to build, rehabilitate and manage affordable housing for Vermonters and provide vital housing counseling and education for renters, homebuyers and homeowners. These grants will support their excellent record of lending a hand to Vermonters in need and in helping to strengthen our communities.”

Governor Peter Shumlin has appointed two new members to the Vermont State Colleges Board of Trustees, Churchill Hindes of Colchester and Michael Pieciak of Winooski, and has reappointed Linda Milne of Montpelier.

The governor said, “At this particular time, financial expertise will be especially helpful on the VSC Board of Trustees and all three of my appointments will contribute significantly in that Regard.”

Hindes recently retired as Vice President of the University of Vermont Medical Center. Previously, he had served as Chief executive Officer and President of the Visiting Nurse Association of Chittenden and Grand Isle Counties, Chief Financial Officer of the University Health Center, Vice President of Fletcher Allen Health Center, and State Budget Director under Governors Snelling and Kunin. He served as a Trustee of the Vermont State Colleges from 1987-2001.

Moody’s Investors Service yesterday upgraded Burlington’s credit rating for both the City’s General Obligation Bonds and Certificates of Participation, and Moody’s improved the City’s rating outlook to positive from stable. This is the City’s first rating upgrade since Moody’s began downgrading the City’s rating in July 2010, and the first positive outlook in at least 10 years (See Burlington ratings table below). In its Rating Update report, Moody’s stated: “The positive outlook reflects a trend of balanced financial operations over the last two years, which will likely continue over the near term.” The improved credit rating will allow the City to incur lower borrowing costs, which will save Burlington taxpayers and ratepayers money over time.

While there has been a strong push to legalize marijuana in Vermont, despite what appears to be a legislative logjam this year, a researcher expects the state to be one of the next to legalize its recreational use. Laws went into effect last week that legalized recreational marijuana in both Alaska and Washington, DC. A University of Kansas researcher into the history of cannabis’ acceptance now has predicted the next five US states where voters or Legislatures could be inclined to approve marijuana use for relaxation and enjoyment.