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.
Funding & Incentives
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.
The Municipal Planning Grant (MPG) program encourages and supports planning and revitalization for local municipalities in Vermont. Awarded annually and administered by the Department of Housing and Community Development, the MPG program works to strengthen Vermont by funding local planning initiatives that support statewide planning goals.
The Vermont Community Development Program (VCDP) assists communities on a competitive basis by providing financial and technical assistance to identify and address local needs in the areas of:
Your community has a great re-development opportunity, but the project needs funding. Sound familiar? Luckily a number of federal, state and local resources are available to help. Each program below serves a particular area of interest and has specific eligibility requirements. Program staff can help you find the resources needed to meet your community development goals.
The Charitable Housing Investment Tax Credit (“HITC”) is an opportunity to support affordable housing in Vermont and reduce your Vermont income taxes.
The Vermont Community Development Program (VCDP) assists communities on a competitive basis by providing financial and technical assistance to identify and address local needs in the areas of housing, economic development, public facilities and public services.
The Vermont Economic Progress Council (VEPC) is an independent board of Vermont citizens, nine appointed by the Governor and two appointed by the General Assembly. Additionally, there are two non-voting representatives from each region, one designated by the regional development corporation and one by the regional planning commission. The regional representatives serve in an advisory and advocacy role.