Twenty-eight rehabilitation and revitalization projects in Vermont’s designated downtown and village centers have received more than $3.6 million in tax incentives, including the towns of Elmore and East Hardwick.
“Like so many aspects of our lives, neighborhoods and economy, Vermont’s downtowns and villages have been significantly impacted by the pandemic. That is why it is inspiring to see so many Vermont companies, non-profits and individuals committed to making significant investments for the future of their communities,” Gov. Phil Scott said in a press release announcing the program. “The kind of projects we’re funding today, along with the strategic use of federal relief dollars, gives us the opportunity to make transformative change that will have long-lasting impacts around the state.”
In 2021, $3.6 million in tax credits will offset the costs of major investments to projects, including transformation of the former Bennington High School into a community center with recreation and arts programs, local businesses, and new housing; reinvestment to support the reopening of Currier’s Market in Glover; and support of a major investment to adapt a vacant warehouse at the former Ide Feed Mill in St. Johnsbury into a processing facility for a local hemp-based manufacturing company.
Local projects include the historic Elmore Store, which is undergoing a major transition from private to non-profit ownership, using a community supported enterprise model to protect the long-term viability of this vital commercial and community resource.
With the support $50,000 in state tax credits, the Elmore Community Trust will undertake required electrical, plumbing and structural upgrades that will bring the building up to code. Total project cost is $171,400.
Built between 1851 and 1863 the building at 64 Main St., in East Hardwick has served as a local store, boarding house and, most recently, apartments in the heart of East Hardwick’s village center.
Vacant for the last 10 years, the new owner will now use $72,712 in state tax credits to support to rehabilitate the building, bringing it up to code to provide three energy efficient and affordable apartments while maintaining its historic character. Total project cost is $538,718.