Governor Douglas Announces Downtown Tax Credits

first_imgFor Immediate ReleaseDecember 30, 2005Contact: David MaceVermont Agency of Commerce and Community Development(802) 828-5229GOVERNOR DOUGLAS ANNOUNCES TAX CREDITS FOR BUILDING REPAIRS IN BRATTLEBORO, BENNINGTONMONTPELIER Governor Jim Douglas announced today that the Vermont Downtown Development Board has awarded $265,000 in tax credits to make building improvements in Brattleboro and Bennington.”These tax credits will help support new investment in our historic downtown properties, provide crucial affordable housing, and bring businesses and life to our downtowns,” Gov. Douglas said. “We are pleased to help these downtowns – which have seen so much improvement over the past few years – in their ongoing revitalization efforts.”The awards were made at a meeting last week of the Vermont Downtown Development Board, which is chaired by Kevin Dorn, Secretary of the Agency of Commerce and Community Development.The Wilder Block in downtown Brattleboro suffered major damage on Dec. 5, 2004 when a fire destroyed the fourth story and damaged the rest of the building.It helps define the southern gateway to the downtown, and features one of the very few cast iron facades in the state. The $250,000 tax credit will be used to repair and rebuild damaged parts of the building. When finished, it will include retail and office space on the lower floors and affordable housing on the upper stories.The second credit will be used in downtown Bennington for the reuse of the old fire station at 219 River Street. The $15,000 tax credit will support the installation of a sprinkler system, helping bring the Bennington Furniture store to this new location, and protecting the building from future fires.These tax credits were created by the legislature to support building rehabilitation projects within designated downtowns and village centers. More information can be found at the Vermont Downtown Program’s website, www.HistoricVermont.org(link is external).last_img

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