Greater Burlington Industrial Corporation The Community and Housing Infrastructure Program (CHIP) is launching soon. With this in mind, the Vermont Economic Progress Council (VEPC) is asking that all municipalities considering applying for CHIP fill out this mandatory interest form to provide a high-level overview of their proposed projects. This brief form is a required first step for all municipalities before they complete the official application and will help VEPC track program interest and anticipate incoming applications.
As a reminder, CHIP lets municipalities keep a portion of future property tax growth within a housing development to pay for water, wastewater, roads, broadband, site prep, and other public-benefit improvements. To qualify, towns must show the project creates new primary-residence housing, dedicate at least 60% of building space to housing, complete local hearings, and sign a Housing Infrastructure Agreement with the developer.
Affordable and moderate-income projects can retain up to 85% of education tax increment; market-rate projects can retain up to 75% and must meet a “but-for” test. Tax increment can be used for eligible improvements or CHIP debt over a 20-year retention period. Learn more at a series of webinars sponsored by VEPC on January 8th, 13th, and 15th from 2:00-3:00pm (recordings available after), and review the program guidelines.
1.7.2026. gbicvt.org Copyright © 2026 Greater Burlington Industrial Corporation, All rights reserved.
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