MONTPELIER, Vt. – Newport has become the latest Vermont community to earn "Downtown Designation" status, making it eligible for a variety of state funds and financial incentives.
The Vermont Downtown Development Board on Monday made Newport the 23rd designated downtown, and also awarded interim growth center benefits to the Severance Corners area of Colchester.
"I am pleased Newport is joining those communities already working to improve the economic and social vitality of their downtowns," said Kevin Dorn, Chair of the Downtown Development Board and Secretary of the Agency of Commerce and Community Development. "Governor Douglas has made revitalizing Vermont's downtowns and village centers a centerpiece of his community development strategy."
Designated Downtowns become eligible for grants from the $800,000 Downtown Transportation Fund, along with $1.6 million in tax credits for building rehabilitation and safety improvements that help support continued commercial and residential activity.
The program is administered by the Vermont Downtown Program, part of the Agency of Commerce and Community Development.
Requirements for a designated downtown include the creation of an organization committed to downtown revitalization, supported by community stakeholders through a "community investment agreement."
Downtowns must also have funding to back up the organization and a capital improvement plan demonstrating the municipality's commitment to invest in its downtown over the next five years.
"Communities must show a significant commitment to downtown revitalization to become designated, which was amply demonstrated by Newport through the work of local officials and the volunteers and staff at the Newport City Renaissance Corporation," Dorn said.
"Newport has been working hard over the past several years to achieve designation of their downtown, and it was clear to the Board that their efforts have generated a lot of excitement in the community," he added.
At its meeting Monday, the Vermont Downtown Development Board also recognized Colchester's planning efforts at Severance Corners through the interim award of a key growth center benefit.
This will mean that in the Act 250 process, developers in this area will no longer be required to cluster development to avoid impacting prime agricultural soils if the development is located within the growth center. And if prime agricultural soils are developed, the mitigation requirements are eased.
Growth Centers were created by the Legislature in 2005 and subsequently signed into law by Governor Douglas to encourage communities to plan for denser and mixed use development in appropriate areas. Williston recently became the first community to have its Growth Center – in the Tafts Corners area – approved by the board.
"Growth Centers support commercial and residential development in areas that everyone can agree are appropriate for growth," said Dorn, "And they help reduce development pressures on important natural resources outside the designated area. Colchester worked closely with the Chittenden Regional Planning Commission and our staff, resulting in a great application and an easy route to approval."
For more
information, visit: www.historicvermont.org