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…
Transformative Private Investment to Fuel Economic Growth and Revitalize Downtown Rutland Rutland, VT – The City of Rutland, in partnership with private developers, is excited to announce the Downtown Hotel + Living Project, a transformative investment that will complete the…
The City of Rutland Board of Aldermen has approved the Tax Increment Financing (TIF) District Plan and its submission to the Vermont Economic Progress Council (VEPC). This action comes after the October 21, 2024 approval of the TIF District Letter of Intent.…
Approval of the TIF District Plan Initiates the City’s Engagement With the Vermont Economic Progress Council Rutland, Vermont — The City of Rutland Board of Aldermen has approved the Tax Increment Financing (TIF) District Plan and its submission to the…
The Rutland City Board of Aldermen will convene a public hearing on the proposed City of Rutland TIF District and Financing Plan on Monday, January 6, 2025, at 6:45 PM. Pursuant to 24 VSA 1893, The hearing will be held…
News of Walmart’s exit coupled by planned developments, including a downtown hotel and theatre expansion, has sparked talk of opportunity...To make all the proposals more attainable, Rutland City is applying for state approval to form a Tax Increment Financing (TIF)…
