Governor Phil Scott and the Agency of Commerce and Community Development (ACCD) Monday announced over $4 million in funding to support a record number of 31 projects rehabilitation and revitalization projects statewide in designated downtown and village centers.
These 31 project awards will help generate over $150 million in building improvements and public infrastructure around the state.
In addition to supporting basic needs like housing, business development, and health care, “these are the types of programs that align with our recovery and resiliency work from both the COVID-19 pandemic and the devastating summer floods,” Gov. Phil Scott said. “By strategically using federal and state funds to revitalize communities, we’ll recover faster and build back stronger than before.”
In 2023, $4.4 million in tax credits will offset the costs of major investments in projects including:
- Langdon Street in Montpelier was severely damaged by flooding in July. With the support of state flood mitigation tax credits, steps to mitigate future flooding will be taken, while also bringing the three commercial units back online and creating 16 new apartments on the building’s upper floors.
- Stonecrop Ledge, a beautiful historic home in Middlebury’s Neighborhood Development Area will be rehabilitated using federal and state tax credits to create three new market rate apartments.
- The shuttered Taftsville Country Store will be re-opened thanks to new ownership and the support of state tax credits. The project includes façade repairs and code-mandated upgrades to the building, which will also house three apartment units.
- Two redevelopment projects in St. Johnsbury, including the former Caplan’s Building, which will include space for Northern Express Care, a walk-in primary care office, and redevelopment of 560 Railroad Street for mixed-use commercial and residential with nine new mid-market apartments.