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Designated Downtown Tax Credit Summary

Downtown Program

Vermont's downtowns and villages have served as the social and economic centers of our communities for generations. Frequently a community's second or third largest employer, they play a key role in a region's economy. Almost one fifth of Vermont's economic activity and jobs are based in our downtowns.

Downtowns are areas of intensive capital investment, both public and private, in buildings, water and sewage systems, streets, sidewalks, and parks. Protecting this investment is smart public policy. We are fortunate to have a wealth of historic buildings in our downtowns, built with a quality of construction, craft and style that make our town centers attractive places to live, work and visit.

Recent decades have brought tremendous economic, technological and social changes, often with adverse effects on our downtowns. Although the national trend of disinvestment in downtowns - leaving rundown or boarded-up storefronts, vacant upper stories, and reduced tax bases - has not overwhelmed Vermont, the health of our downtowns can be fragile. Sprawl, the dispersed commercial development that is springing up at the fringes of traditional town centers, can diminish the economic viability of our communities and local businesses.

In response, people across Vermont are organizing downtown revitalization efforts to attract new business, create more jobs, generate new investments, and preserve or enhance the vitality of their downtowns. By providing new opportunities for commercial growth in our town centers, revitalization helps preserve the traditional settlement patterns, quality farmland, and natural and cultural landscapes that make Vermont unique.

The Vermont Downtown Program was established in 1994 to provide technical assistance and training to communities and help them develop skills and strategies for their downtown revitalization efforts. The Program is an affiliate of the National Main Street Center, a division of the National Trust for Historic Preservation, which has worked in over 1,400 communities nationwide revitalizing and redeveloping "Main Streets."

Technical Assistance

As an affiliate of the National Main Street Center, the Vermont Downtown Program has access to high quality resources for downtown revitalization. The Program uses these resources to provide ongoing technical assistance to help each local organization develop and implement their own revitalization strategy.

Downtown Resource Library

The Program maintains a comprehensive downtown resource library of more than 100 publications and audiovisual materials addressing a wide variety of revitalization topics, available on loan.

Statewide Gatherings

The Program holds an annual conference featuring local and national revitalization experts. Quarterly networking meetings provide an opportunity for participants to share stories and learn new ideas.

Comprehensive Training Program

The Downtown Program offers Comprehensive Training services to local programs that wish to receive more intensive training. The training is structured to help local organizations grow during their first five years. The Program consists of on-site training and technical assistance, consulting, and a series of statewide workshops. The training begins with the basics of revitalization during the first year. In subsequent years, the training progresses to more advanced revitalization topics, and participants receive more targeted consulting expertise. To begin the Comprehensive Training Program, there must be a local program with a demonstrated readiness and commitment to participate in the training. Downtown designation, as described below, is not required for this training.

Downtown Designation

The 1998 Downtown Development Act provides substantial support for downtown revitalization. Towns that receive downtown designation under the Act are eligible for a number of benefits, including tax credits, loans and grants from various state agencies. To qualify, towns must develop a comprehensive revitalization strategy for the downtown district and demonstrate broad-based community support. The strategy must involve a long-term commitment to enhancing economic opportunities, preserving historic buildings, and improving public spaces and infrastructure in the commercial district. Interested communities should contact the Vermont Downtown Program for more information. While participation in the Vermont Downtown Program's Comprehensive Training Program is recommended, it is not required for downtown designation.

Village Center Designation

The Second Downtown Development Act (2002) created a new level of designation for Village Centers. Village centers will be eligible for benefits including tax credits and priority consideration from other state programs and agencies. Application guidelines are available from the Agency of Housing and Community Affairs website.

Downtown Program

To apply for designation, communities must meet the following requirements outlined below:

DESIGNATED DOWNTOWNS (for district boundary map click on highlighted town)

DESIGNATED VILLAGE CENTERS

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