Funding and Incentives

Funding and Incentives is sponsored by State of Vermont. Vermont Community Development Program (VCDP) CDBG Disaster Re Category: Community Development.

Your community has a great re-development opportunity, but the project needs funding. Sound familiar? Luckily a number of federal, state and local resources are available to help.

Each program below serves a particular area of interest and has specific eligibility requirements. Program staff can help you find the resources needed to meet your community development goals.

**Vermont Community Development Program** The Vermont Community Development Program (VCDP) assists communities on a competitive basis by providing financial and technical assistance to identify and address local needs in the areas of housing, economic development, public facilities and public services.

**Northern Border Regional Commission Grants** The Northern Border Regional Commission, a federal-state partnership for economic and community development,offers grants to combat economic distress in Vermont. **Municipal Planning Grants** These grants help municipalities build and enhance the local framework to guide growth and development in step with the community's goals, values and aspirations.

Grants fund town plans and updates, zoning bylaws and other planning-related projects. **Downtown Transportation Fund** This fund helps municipalities pay for transportation-related capital improvements within or serving a designated downtown and eligible designated village centers.

Past projects include pedestrian bridge replacement, streetscape enhancements, bicycle and pedestrian safety improvements, parking amenities and other public space investments.

**Electric Vehicle Supply Equipment (EVSE) Grant Program** The State of Vermont wishes to expand the statewide network of electric vehicle charging stations (also called Electric Vehicle Supply Equipment, or EVSE) in accordance with the Vermont Beneficiary Mitigation Plan of the Volkswagen Environmental Mitigation Trust with a specific focus in this round of grant funding on fast charging (DCFC) stations in priority locations on highway corridors.

**Downtown & Village Center Tax Credits** State income tax credits are available to business and property owners with buildings constructed prior to 1983 and located within a State designated downtown or village center. Credits can help defray the cost of historic rehabilitation, façade and code improvements and technology upgrades.

**Federal Rehabilitation Investment Tax Credits (RITC)** Administered by the National Park Service, a 20% federal income tax credit is available for rehabilitation of income-producing historic buildings, including multi-family housing. Properties must be listed in the National Register of Historic Places and work must meet preservation standards.

**Downtown Sales Tax Reallocation** Municipalities and the project developer may jointly apply to reallocate sales taxes generated by a project located within a designated downtown district. Examples of projects include parking garages, pocket parks and other municipal improvements that enhance the qualified project.

**Tax Increment Financing Districts** Municipalities with a designated downtown or growth center may create a tax increment financing (TIF) district to help pay for the public infrastructure (streets, sewer, water, or parking facilities) needed to support new development.

The Better Connections grant program is a partnership between ACCD and VTrans that supports and guides local investments in transportation options through a wide array of planning activities including, downtown and village center master plans, corridor plans and innovative guidelines and bylaws. For a complete list of current and past projects, visit the program’s story map, or read the Better Connections annual report.

**Downtown and Village Center Funding Directory**(PDF) A comprehensive list of state, federal and nonprofit funding sources to support downtown and village center revitalization efforts.