Public infrastructure paves the way for Village development By Polly Mikula Killington Forward achieved its first major milestone on Thursday, June 30, when Vermont Economic Progress Council (VEPC) approved its application for a master tax increment financing (TIF) district. The VEPC board voted unanimously to approve Killington’s application, which grants the town a financing mechanism…

Town plan includes water system and roadway infrastructure improvements The Vermont Economic Progress Council (VEPC) has approved Killington's application for a Tax Increment Financing (TIF) District for Killington Road and the Killington Village area. The VEPC board voted on Thursday to approve Killington’s application, which will allow the town to install new water infrastructure, resolve…

Town brands ‘Killington Forward’ as overarching plan to accomplish water, road and affordable housing — $62.3 million of infrastructure financed by a combo of sources By Polly Mikula On Monday night, May 2, the town of Killington held its third public hearing for its proposed Tax Increment Financing (TIF) district and financing plan. The hearing…

The Vermont League of Cities and Towns (VLCT) released an independent analysis of Vermont’s Tax Increment Financing (TIF) program Tuesday, April 19, that concluded that TIF helps Vermont meet its smart growth goals, promotes long-term planning, and contributes to net-growth in the Education Fund. The report comes as the Vermont Legislature considers expanding TIF to…

By Curt Peterson Two large well-drilling rigs were headed for a water source site behind the Mountain Times offices recently, but the bridge to cross the Ottauquechee River appeared to be strained as the first truck made the trip. The second truck waited in the newspaper’s parking lot until Mosher Excavating was able to reinforce…

By Katy Savage Like most business owners, Chris Karr has struggled to find employees in the aftermath of the pandemic. Karr, the owner of six restaurants in Killington, usually employs up to 150 people in the peak season, but when the pandemic hit, he cut his staff by about half. Now he’s hiring those people…

By Polly Mikula The Vermont Economic Progress Council (VEPC) met with the town of Killington and its residents via Zoom Thursday, Jan. 27, for a public hearing on the town of Killington’s tax increment financing (TIF) application. The town hopes to utilize future incremental municipal and education property tax revenue to finance planned infrastructure that…

Dear Editor, Editor’s note: The following letter is an adaptation of the testimony Art Malatzky gave to the Vermont Economic Progress Council (VEPC) on Jan. 27. VEPC is considering the town of Killington’s application to utilize future incremental municipal and education property tax revenue to finance debt, if approved by the voters and incurred for…

Editor’s note: After two public meetings, Nov. 29 and Jan. 4, regarding the proposed Tax Increment Financing (TIF) district in Killington, the town has compiled answers to frequently asked questions. These were updated on Jan. 10. At the meeting Jan. 4, the Select Board approved the TIF application to the state. In the next few…

STATE OF VERMONT Proposed use of Incremental Property Tax Revenue for Tax Increment Financing District, Town of Killington PUBLIC COMMENT INVITED On January 27, 2022, the Vermont Economic Progress Council (VEPC) will meet virtually to begin consideration of an application submitted by the Town of Killington to utilize future incremental municipal and education property tax…

Dear Editor, Editor’s note: this was submitted as an open letter to the Killington Select Board on Dec. 10. As the Select Board leads the effort to bring a TIF (Tax Increment Financing) District to Killington, it appears obvious that the Board and SP Land are orchestrating an effort to promote this project in the…

Future success of town, businesses, development prospects assessed By Polly Mikula A lack of basic municipal infrastructure is holding the town of Killington back. That was the summary of a presentation by White + Burke Real Estate Advisors to the Killington Select Board at a special meeting, Monday, Nov. 29. Growth is lacking namely due…

$66.5 million investment could net $300 million of growth over the next 10 years By Polly Mikula The town of Killington has drafted a plan to create a tax increment financing (TIF) district to provide transportation and municipal water infrastructure that will stimulate commercial and residential development and create new affordable housing in the town’s…

State answers frequently asked questions about program designed to spur development through investment in public infrastructure What is a tax increment financing district? Geographically, it is a district, created by a municipality, where public infrastructure is required to encourage private property development. Financially, incremental tax revenues generated by the private property development within the district…

It’s the first step in a major infrastructure plan to support Killington Village, Killington Road and affordable housing development By Polly Mikula The Killington Select Board approved a Public Infrastructure Tax Incremental Financing (TIF) letter of intent (LOI) at its regular meeting Tuesday night, Nov. 2, and it was submitted to the Vermont Economic Progress…