Year Created: 2022 
Type: Approved by VEPC under TIF Authority 32 VSA 5404a(h)
Approved Split of Increment: Education Fund = 70%/30% and Municipal General Fund = 85%/15%
The Town of Killington is home to Killington Mountain and Killington Resort – one of Vermont’s premier ski resorts and a major economic driver in the Rutland County region. Since the 1980s, plans to construct a ski village at the base of the Resort have been thwarted for a variety of reasons, primarily the significant initial infrastructure investment required to launch. The Town is home to the Region’s second largest employer and is a year-round destination for in and out-of-state visitors.
Two key infrastructure barriers inhibit growth: lack of a safe and reliable source of water, and outdated Killington Road design that creates unsafe travel conditions, does not accommodate multiple modes of transportation and does not allow for additional capacity. Adding density and vitality to the base of the mountain, creating water access, improving water quality, providing a safe and multimodal transportation corridor in this hub will have region-wide and statewide benefits including increased job opportunities, sales and rooms and meals tax revenue, and access to the natural beauty and recreational opportunities of Killington Mountain.
The proposed Killington TIF District is consistent with the goals of the Killington Town Plan: “To encourage planned growth and concentrated development in those areas of the Town which provide for higher density, and which can develop the necessary infrastructure to more readily support such development than in other sections of Town.” The resulting development from these TIF investments would be compact, high-density development in the locations the Town and region have identified developments to preserve the other areas of the region for natural habitat, recreation, and open space.
The Town’s TIF District Plan includes water and transportation infrastructure improvements of approximately $62.3 Million (including soft costs, contingency, and inflation factor). The Town estimates the grand list will increase by $285.5 million due to the projected private sector developments, which is estimated to generate $115.5 million in incremental property tax revenues over the life of the District ($26.5 million municipal and $89 million education).