Local News
August 20, 2014

Area towns to receive tax incentives

By Stephen Seitz

Brandon, Hancock, Ludlow and Rochester will receive downtown and village center tax credits for certain rehabilitation projects, according to an Aug. 11 statement from Gov. Peter Shumlin’s office.

“These incentives are proven to jump-start transformation in communities and have brought jobs, business and housing to downtowns and villages across the state,” according to Shumlin’s statement.  “And when we put people to work revitalizing our communities, we not only support local economic development – we’re building a better and stronger Vermont for the next generation.”

According to Department of Housing and Community Development Commissioner Noelle MacKay, a hefty increase to the current program helped make these projects possible.

“The legislature’s support of a $500,000 increase to the program allowed the Downtown Board to support a record number of projects to spur building rehabilitation and economic development in 26 communities,” MacKay said in the statement.

Area projects receiving the incentives include:

9 West Seminary Street, Brandon. Brandon’s high school building has been vacant for 25 years. It will be rehabilitated for nine market-rate apartments within walking distance of the town’s central business district.  According to the state, the project will provide jobs and rental housing.  Total project cost: $2,500,000.  Tax credits: $125,000.

1313 Route 100, Hancock. This building is an expanded single-unit cottage dating back almost 100 years. The owner intends to finish the duplex, increasing Hancock’s housing stock.  Total project cost: $50,000.  Tax credits: $12,638.

98 Main Street, Ludlow. The Grumman Ski Club’s historic lodge in the heart of Ludlow’s commercial center will be brought into code compliance with the installation of a sprinkler system supported by state tax credits.  Total project cost: $70,000.  Tax credits: $35,000.

119 Main Street, Ludlow. This property in Ludlow’s commercial core will be redeveloped to provide affordable lodging. The project will ensure the building is brought up to code, will fill a need for more tourist accommodations and will add between five and six full time jobs.  Total project cost: $150,000.  Tax credits: $54,992.

38 South Main Street, Rochester.  Pierce Hall Community Center is a widely-used community facility, serving Rochester, Granville, Hancock, Pittsifeld, and Stockbridge.  Tax credits will help make this building fully ADA compliant, with the addition of accessible bathrooms in the building’s lower level.  Total project cost: $2,000,000.  Tax Credits: $37,020.

For full information on these and the other projects, visit the Agency of Commerce and Community Development’s website at accd.vermont.gov.

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