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Downtown and Village Center Tax Credit Program 2023

Posted Tuesday, October 11, 2022
— News

Announcing a Special BONUS round of funding for the Downtown and Village Center tax credit program! Read below for additional information and application.
*Richmond Village Center Designation (March 2019)
*January 2023 - Downtown and Village Center Tax Credit Program Application Guidelines

In January 2023, during this special round of funding, $800,000 in state income tax credits will be competitively available to projects that enhance the historic character and improve building safety of older and historic commercial and community buildings in these designated communities. The credits support general rehabilitation work, code compliance work, façade improvements, and flood mitigation projects, and may be combined with the federal program.

Applications for the next round of tax credits are due Monday, January 16, 2023, and the Vermont Downtown Board will make is allocation decisions at their regularly scheduled board meeting in February 2023.

Applications must be submitted electronically to: accd.DowntownVillageCenterTaxCreditProgram@ vermont.gov

See the attached Program Guidelines and Application.

I encourage all applicants to reach out to me with any questions about the program or the application. There is also a pre-recorded webinar available on our website which covers program basics, the scoring criteria, and how to compile a strong application for those looking for a competitive edge.

Remember the deadline to apply for this bonus round of funding is January 16, 2023.

Thanks, and good luck!

Caitlin

Caitlin Corkins | Tax Credits and Grants Coordinator

Vermont Agency of Commerce and Community Development

1 National Life Dr, Davis Bldg, 6th Floor | Montpelier, VT 05620-0501

802-828-3047 office

accd.vermont.gov