Governor announces winners of downtown and village center tax incentives

Bonus Round of Funding Will Help Generate Over $20 Million in Building Improvements in Six Counties

Vermont Business Magazine Governor Phil Scott and the Agency of Commerce and Community Development (ACCD) today announced over $860,000 in funding supporting rehabilitation and revitalization projects throughout Vermont’s designated downtown and village centers. These six project awards will help generate over $20 million in building improvements and around the state. In addition to these awards, a new round of funding for later this year will be announced in April, with tax credits available to projects in state-designated Downtowns, Village Centers, and Neighborhood Development Areas.

“These investments are impactful, supporting local businesses, creating new housing, and improving the economic vitality of our community centers,” said Governor Scott. “This kind of targeted investment in our downtowns and village centers, along with the strategic use of federal relief dollars, shows what we can do to make Vermont an even better place to live and visit.”

“Thanks to the support of the Legislature, we are excited to be able to expand the reach of this program in the coming year,” said Department of Housing and Community Development Commissioner Josh Hanford. “Our next round of funding will allow applicants of state-designated Neighborhood Development Areas to also participate in the program, supporting investments in rental housing around our existing commercial centers.”

Projects funded include:

  • Bennington, 650 Main Street
    • $200,000 for redevelopment of the former Bennington High School into a multi-purpose community center and 37 apartments, including both affordable and market-rate units.
  • Brattleboro, 22-26 High Street
    • $79,000 for façade improvements and code upgrades to a 5-story downtown block, providing space for a restaurant, maker’s market, offices, and studios.
  • Enosburg, 366 Main Street
    • $327,500 for conversion of vacant commercial space for mixed retail and office use at the historic Perley Block.
  • Jeffersonville, 4968 VT Route 15
    • $61,575 for the rehabilitation and adaptive re-use of the Jeffersonville Granary for a food hub supporting four local food businesses.
  • Rutland, 56 Merchants Row
    • $125,000 to support significant code upgrades to the Gryphon building’s upper floors, creating 10 new 1-2-bedroom apartments.
  • White River Junction, 5 South Main Street
    • $62,600 for completion of code-mandated improvements to the Briggs Opera House, a local landmark and cultural center in White River Junction.

Here is additional information on the projects, including local contact information. Visit the Department of Housing and Community Development website for information about how the tax credits help boost the vitality of Vermont’s communities.

3.22.2023. Governor. Montpelier, VT www.vermont.gov