The Downtown and Village Center tax credit program by the State of Vermont Department of Housing and Community Development assists in stimulating local economies by providing tax credits for building improvement and restoration projects. Tax credits are available for projects that enhance the historic character of buildings and improve building safety of older and historic commercial and community buildings in designated communities. The credits support general rehabilitation work, code compliance work, and façade improvements, and may be combined with the federal program.

See the Richmond Village Designation Map map for the boundaries of the Richmond Village Designation.

In 2020, $2,600,000 in state income tax credits are available for projects that fit the criteria.
Applications for the next round of tax credits are due Wednesday July 1, 2020 and the Vermont Downtown Board will make is allocation decisions by mid-August.

Additional information about the tax credit program, program guidelines, and an application can be found here: 2020 HTC Guidelinesand Application.

For questions about the program and the application process, please contact Caitlin Corkins at caitlin.corkins@vermont.gov or at (802) 828-3047. If you are not able to gather required attachments due to the Covid-19 Pandemic, contact Caitlin Corkins to discuss possible extensions.

Applications must be submitted electronically to caitlin.corkins@vermont.gov or to:

 

Caitlin Corkins

State of Vermont

Division for Community Planning & Revitalization

One National Life Drive

Davis Building, 6th Floor

Montpelier, VT 05620-0501