Tax Increment Financing (TIF) is a tool that municipalities use to finance improvements for public infrastructure like streets, sidewalks and storm water management systems. The improvements serve a specified area known as a TIF District.
Funding & Incentives
The State of Vermont offers an economic incentive for business recruitment, growth and expansion. The Vermont Employment Growth Incentive (VEGI) program provides cash payments to businesses that have been authorized to earn the incentive and who then meet performance requirements. The value of each payment is based on the revenue return generated to the State by prospective qualifying jobs, payroll creation, and capital investments.
Vermonters and visitors alike care about our historic resources. Volunteers, craftspeople, businesses, organizations, and agencies work to identify, restore, preserve, and utilize these resources. All are essential partners in Vermont’s preservation movement.
Vermont established its Certified Local Government (CLG) program in 1985 to better help local governments integrate historic preservation concerns with planning and decision making processes. Because preservation most often happens at the local level, joining the CLG program is an important and effective way to preserve Vermont's historic places.
Established in 1986, the State-funded Historic Preservation Grant Program helps municipalities and non-profit organizations rehabilitate the historic buildings that are a vital part of Vermont’s downtowns, villages, and rural communities, as well as its iconic landscape.
Established in 1992, the State-funded Barn Preservation Grant program helps individuals, municipalities, and non-profit organizations to rehabilitate the historic agricultural buildings that are a symbol of Vermont’s rural landscape. This is the oldest state-funded agricultural-based grant program in the United States.
If your municipality or non-profit organization owns a historic building, you may be eligible to apply for a Historic Preservation Grant to assist with the cost of repairing and maintaining the structure.
If you own a historic agricultural building, you may be eligible to apply for a Barn Grant to assist with the cost of repairing and maintaining the structure.
Municipalities and the developer of the qualified project may jointly apply to the Downtown Board for a reallocation of sales taxes on construction materials. Qualified projects must be located within a designated downtown district and may be eligible for a reallocation of sales taxes on construction materials.
The Downtown Transportation Fund supports revitalization efforts in designated downtowns each year with over $300,000 in funding. Investment in the infrastructure of public spaces stimulates public investment and creates a sense of identity and pride in Downtowns across Vermont.