downtown and village center tax credits fy2018 and sales ...accd.vermont.gov › sites › accdnew...
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For more information, please contact:
Caitlin Corkins: [email protected]
or 802.828.3047
3-5 Rockingham Street, Bellows Falls – The rehabilitation of this historic building at the center of Bellows Falls “Square” will transform this empty and long-underutilized building into a duplex apartment with first-floor retail space. The owner will renovate this empty storefront for a coffee roasting cafe and bistro. The entire building will be brought up to electrical, plumbing, and fire safety code, including installation of a sprinkler system, and the exterior of the building will also be restored and re-painted.
Total Project Cost: $328,000; Tax Credits Awarded: $23,963Contact: Jennifer Gurley, [email protected] 315-886-9926
109 South Street, Bennington – Bennington’s County Courthouse (1870) was converted into a commercial block, housing an A&P supermarket and then the Pennysaver Press, but more recently it has been vacant. The building will be rehabilitated using state and federal tax credits with two commercial storefronts on the ground floor and an open office in the former courtroom. This project is part of a larger “Putnam Block” project – redevelopment of a key city block which includes rehabilitation of four historic buildings and construction of new housing.
Total Project Cost: $2,869,408; Tax Credits Awarded: $200,089 Contact: William Colvin, [email protected] 802-442-0713
355 Main Street, Bennington – The historic Winslow Block is made up of originally detached buildings joined as a single, renovated block c. 1923. Currently vacant, the building will be rehabilitated using state and federal tax credits into three commercial storefronts with Bennington College office suites and 13 efficiency units for graduate students on the upper floors. This project is part of a larger “Putnam Block” project – redevelopment of a key city block which includes rehabilitation of four historic buildings and construction of new housing.
Total Project Cost: $8,167,697; Tax Credits Awarded: $491,003Contact: William Colvin, [email protected] 802-442-0713
10-16 Center Street, Brandon – A cornerstone of Brandon’s downtown, the upper floors of this building have sat vacant for several years, serving as cold storage and pigeon habitat. Using both state and federal tax credits, the project will rehabilitate these underutilized upper floors to create housing for middle income and young professional tenants. The project also involves installation of a sprinkler system and elevator.
Total Project Cost: $1,000,000; Tax Credits Awarded: $165,000Contact: Matt Bonner, [email protected] 978-548-7255
79-93 Main Street, Brattleboro – This three-building property encompasses 12 rental apartments, three ground floor retail spaces, an 1800 square foot multi-purpose space, a business suite, and a one-room office space. State tax credits will support work to bring the building up to code and improve accessibility, including installation of an elevator, a sprinkler system and asbestos abatement, while maintaining the historic architectural elements of the buildings and enhancing the retail façades on Main Street.
Total Project Cost: $919,706; Tax Credits Awarded: $156,731Contact: Jason Cooper, [email protected] 802-254-6200
190 Main Street, Brattleboro – The First Baptist Church is a historic landmark in downtown Brattleboro but is in danger from decades of deferred maintenance and a dwindling congregation. This ambitious project will create a vibrant multi-use space, allowing for continued use by the church with the addition of a conference room/public meeting space and eight apartments. State tax credits will support major work to bring the building up to code and make long-needed exterior repairs.
Total Project Cost: $700,000; Tax Credits Awarded: $135,625Contact: Michael Middleton, [email protected] 802-451-8812
57 Depot Street, Enosburg – Now vacant, major rehabilitation of the c. 1874 Quincy Hotel will return this building to its historic use as a hotel and restaurant. The project will use both state and federal tax credits to address a range of life-safety issues and improve the building’s accessibility and energy efficiency. It will more than double the number of overnight accommodations in Enosburg Falls, creating jobs and an accessible gathering space.
Total Project Cost: $1,501,000; Tax Credits Awarded: $199,050Contact: Elizabeth Dorminey, [email protected] 706-461-3798
Downtown and Village Center Tax Creditsand Sales Tax Reallocations
FY2018
Awarded Project Summaries
Downtown and Village Center Tax Creditsand Sales Tax Reallocations
3940 Guilford Center Road, Guilford – This project aims to improve accessibility and safety at Guilford’s historic Grange Hall. This rural community currently lacks a centralized, accessible and inclusive space for social, civic, educational and recreational activities, and a recent community-driven planning process named rehabilitation of the Grange as a top priority. Tax credits will support installation of accessible bathrooms, a sprinkler system, kitchen upgrades, and exterior repairs.
Total Project Cost: $990,000; Tax Credits Awarded: $164,708Contact: Sara Coffey, [email protected] 802-579-3766
138 Cross Street, Island Pond – Constructed c. 1866, the Essex House sits at the entrance to the village of Island Pond. Vacant for over three years, the building’s new owners purchased the property with the goal of bringing a cornerstone business to the community. The renovated building will include 11 hotel rooms and a bar/restaurant. Major renovations to bring the building up to code will be supported by the state tax credits and the project will also include insulation/efficiency upgrades and cosmetic upgrades to the hotel guest rooms.
Total Project Cost: $84,856; Tax Credits Awarded: $20,666Contact: Melinda Gervais-Lamoureaux, [email protected] 802-723-9888
30 Lower Main Street, Johnson – Last June, a fire destroyed 12 artists’ studios housed in Vermont Studio Center’s historic Church Studios, originally an 1855 Greek Revival-style Methodist Church. This project, supported by state tax credits, will bring the building back into service and includes: exterior repairs to increase accessibility while preserving the building’s historic character; installation of a fire alarm and sprinkler system; energy efficiency upgrades; and flood mitigation work.
Total Project Cost: $1,177,293; Tax Credits Awarded: $104,898Contact: Alice Dodge, [email protected] 802-635-2727x232
190 Main Street, Ludlow – Once a thriving family restaurant, this building at the center of Ludlow’s village center has been vacant for several years. The new owners plan to rehabilitate the space for two restaurants. Work supported by state tax credits will include major code upgrades and façade repairs along Main Street and a small neighboring public park. The project will create jobs, improve safety, and bring vibrancy back to this important corner in the heart of Ludlow.
Total Project Cost: $420,000; Tax Credits Awarded: $63,519Contact: Rogan Lechthaler, [email protected] 601-398-8082
32-42 Main Street, Montpelier – Built in 1875 following a serious downtown fire, the upper floors of the French Block were originally used as housing, but have been vacant for more than 75 years. Downstreet Housing and Housing Vermont are now working to redevelop this vacant space, creating 18 new units of affordable housing. Funding from both state and federal tax credits will also support work to make the space useable for modern living, including: lead and asbestos abatement; structural work; new mechanical, electrical and fire protection systems; a new elevator; and roofing and masonry repairs.
Total Project Cost: $5,465,806; Tax Credits Awarded: $298,590Contact: Samantha Dunn, [email protected] 802-863-8424
73 Main Street, Enosburg – This modest two-story building in the central business district has housed various commercial businesses including an auto body shop, plumbing and appliance shop, and multiple daycare centers. However, the building was vacant for over seven years until new owners purchased the property in 2016. State tax credits will support a project to extensively remodel the building, creating four office spaces for mental health and substance abuse counseling, addressing an important community health need.
Total Project Cost: $39,800; Tax Credits Awarded: $8,560Contact: Olivia Laporte, [email protected] 802-370-0344
Awarded Project Summaries
46 Main Street, Montgomery – This project involves repair and restoration of a multi-use building on Montgomery’s Main Street for housing and offices. With the support of state tax credits, work will be completed to rebuild the two-story porch and entrance, making it safer and ADA compliant. A ground floor apartment will also be converted into a professional office in the health and wellness sector, complimenting existing businesses in the building, and the village.
Total Project Cost: $16,280; Tax Credits Awarded: $8,008Contact: Sarita Khan, [email protected] 808-326-2283
FY2018
For more information, please contact:
Caitlin Corkins: [email protected]
or 802.828.3047
10-14 Lake Street, St. Albans – Vacant since 2014, this project will restore the storefront of a downtown block while also creating a second entrance to the first-floor, making the building viable for multiple commercial tenants while addressing ADA accessibility. Identified by City officials as one of the final buildings in the historic district on Lake Street in need of renovation, the improvements to this building will also be supported by state tax credits, providing attractive, viable commercial space.
Total Project Cost: $100,000; Tax Credits Awarded: $30,000Contact: Jay Mitiguy, [email protected] 802-489-6474
1214 Main Street, St. Johnsbury – This project will convert a vacant storefront into a restaurant. Through partnerships with local schools and organizations, the business will actively recruit local students and graduates, creating jobs and opportunities in the Northeast Kingdom. Work needed to bring the building up to code, including installation of ADA restroom facilities, will be funded as part of the project.
Total Project Cost: $90,000; Tax Credits Awarded: $24,838Contact: George Sales, [email protected] 571-215-9014
112 Main Street, Stowe – State tax credits will support work to create two new apartment units in Stowe’s historic village center, including several code-related projects. Priced to accommodate working families, these two units were converted from underutilized office and storage space on the second floor of a mixed-use building.
Total Project Cost: $127,434; Tax Credits Awarded: $15,976Contact: Nick Donohue, [email protected] 802-522-5959
413 Route 15, Underhill – The former Underhill Academy building (1849) has stood vacant over the past several years. The new owner plans to rehabilitate the building for mixed use - with 1200 square feet of office space, including the owner’s technology-based educational business on the first floor and three apartments on the second floor and in the current garage. Tax credits will support sensitive exterior repairs, addition of an ADA ramp, and new electrical, plumbing and sprinkler systems.
Total Project Cost: $500,000; Tax Credits Awarded: $32,492Contact: Katelin Brewer-Colie, [email protected] 802-899-3407
22 North Main Street, Waterbury – This project involved the creation of a new commercial space in Waterbury village, transforming a former single-family home into a mixed-use building with the owner’s residence upstairs and Hender’s Bake Shop & Café on the first floor. The interior of the building underwent major upgrades, including structural work. State tax credits will support electrical and plumbing upgrades, and lead and asbestos remediation as well as a new front entry for customers.
Total Project Cost: $130,050; Tax Credits Awarded: $27,438Contact: Jessica Wright, [email protected] 802-289-4145
56 Merchants Row, Rutland – Building on the recent success of a similar project, the owner of the historic Gryphon building plans a fit-up of 10,000 square feet of largely vacant upper-floor space to provide housing for 32 Castleton University students in 10 apartment units. State tax credits will support mandated code upgrades to the space, including sprinkler protection.
Total Project Cost: $1,100,000; Tax Credits Awarded: $126,000Contact: Mark Foley, [email protected] 802-236-4712
194 Main Street, Newport – The historic Montgomery Ward building, constructed in 1936, is located directly across the street from the large vacant lot of the stalled Renaissance Block project in downtown Newport. Despite recent setbacks, the owner plans to invest in major upgrades to his building to create a community hub. Work to be supported by state tax credits includes installation of a sprinkler system and elevator to expand use of the building’s third floor for professional offices.
Total Project Cost: $530,000; Tax Credits Awarded: $129,500Contact: D. Richard Woodward, [email protected] 802-673-9106
Downtown and Village Center Tax Creditsand Sales Tax ReallocationsAwarded Project Summaries
FY2018
For more information, please contact:
Caitlin Corkins: [email protected]
or 802.828.3047
110 Gates Street, White River Junction – Infill development of a five-story, 80-unit senior living/memory care facility in the heart of White River Junction is underway. To support this project, the Town of Hartford will undertake major infrastructure improvements along Currier and Gates Streets. A State Sales Tax Reallocation will then help defray the costs of this work, including utility upgrades, paving and sidewalks to improve vehicle and pedestrian safety, exterior lighting, landscaping, and storm water drainage.
Total Project Cost: $27,000,000; Sales Tax Reallocation Awarded: $305,642Contact: Lori Hirshfield, [email protected] 802-295-3075
Downtown and Village Center Tax Creditsand Sales Tax ReallocationsAwarded Project Summaries
FY2018
For more information, please contact:
Caitlin Corkins: [email protected]
or 802.828.3047
“The downtown and village center tax credits facilitate long-term preservation and downtown vitality by reducing the cost of needed
improvements that are uneconomic in the short term. When you combine investment in infrastructure with investment in existing buildings, the
results are powerful and transformative.”Michael Davidson, local developer
White River Junction, VT