An explanation of TIF funding mechanisms Rutland has been awarded a $3 million Catalyst Grant from the Northern Border Regional Commission (NBRC) to support planned streetscape improvements on Center Street. Before those visible upgrades can begin, critical underground infrastructure work…
The city got $3 million for the Center Street redesign. “This is huge,” Public Works Commissioner Robert Protivansky said Monday following the announcement of the Northern Borders Regional Commission grant. “With that and the potential of a TIF district, it…
For many years—decades even—dreams of addressing Rutland’s downtown core have been deferred. Master plans drawn, community meetings held, revitalization goals articulated, and yet limited change has been possible. There has been no large-scale action. That is, until now. But what…
The cost of living in Vermont continues to rise, especially in communities with greater affordability challenges but with fewer resources to invest in major infrastructure projects necessary to address those needs. A recent bill that passed in the Vermont legislature…
Over the last fifteen years, Hartford, Vermont has undergone a quiet but impressive transformation, reflecting the vision of its residents and meeting the needs of the community. Its village center—White River Junction—now hums with new life in the form of…
A common concern regarding the Rutland City TIF District is: what happens if the development doesn’t generate enough tax revenue to pay back the bond? This week’s article seeks to answer that question, as well as explain some of the…
Is there a role for the public to play in the establishment of a TIF district? Before we dive into this week’s theme—public engagement in the TIF district process—we wanted to provide a short update. On Monday, April 21, the…
Project Moves Forward Toward First Phase Implementation Rutland, VT – Today, the Vermont Economic Progress Council (VEPC) has approved the Rutland Tax Increment Financing (TIF) Master Plan, marking a significant milestone in the city's efforts to revitalize its downtown. This…
This week, we will explain the “tax” in Tax Increment Financing, clarifying what the “tax increment” is, how funding flows and who ultimately covers the cost for infrastructure improvements. Importantly, TIF does not create new taxes on our residents. Tax…
Rutland 360 is a collaborative initiative led by a task force that includes the Rutland Redevelopment Authority, the City of Rutland, the Chamber & Economic Development of the Rutland Region, and the Downtown Rutland Partnership. Together, these stakeholders have developed…
