TIF – Tax Increment Financing

TIF – Tax Increment Financing for Bennington

With the passage of legislation this term, the Vermont Legislature has made it possible for six additional communities to apply for and establish a Tax Increment Financing District to incentivize and support private development investment in downtown’s.  Bennington intends to take advantage of this opportunity by applying for one of the available TIF programs to support development in Bennington Downtown.  This page will provide you with information about Tax Increment Financing and the steps being taken by the Town to establish a Bennington downtown TIF district.

Information will be posted here as this process moves forward.  We invite you to stay abreast of a TIF for Bennington.  The public can and will play an important role.  Your knowledge and understanding of TIF is important.

Please feel free to contact the Town with your questions and ideas at: info@benningtonvt.org 

Tax Increment Financing (TIF)

 

 

 

 

 

 

 

Select Board Meeting – June 27, 2017

M E E T I N G   N O T I C E

BENNINGTON SELECT BOARD

Tuesday, June 27, 2017
Bennington Town Office
Conference Room
205 South Street
Bennington, VT 05201

AGENDA

5:00 PM

1. Charter Application Review Interviews 5:00 PM – 5:40 PM

 

 

 

 

Select Board Meeting – June 26, 2017

M E E T I N G   N O T I C E
BENNINGTON SELECT BOARD
Monday, June 26, 2017
Bennington Fire Facility
130 River Street
Bennington, VT 05201

2nd Floor Conference Room

5:00 PM – 6:00 PM

  1.  Charter Application Review Interviews

Multi-Purpose Room – 3rd Floor

A G E N D A

6:00 PM

  1. Pledge of Allegiance
  2. Consent Agenda (6:00 PM – 6:05 PM)
    A. Minutes – June 12, 2017
    B. Warrants
  3. Citizens (6:05 PM – 6:20 PM) (sign up sheet provided)
  4. Chelsea/Apple Hill Solar Projects– Revised Presentation(6:20 PM – 7:05 PM)
  5. Tax Anticipation Borrowing (FY18) (7:05 PM – 7:20 PM)
  6. Water/Sewer Fund Budgets Adoption, set rates (7:20 PM – 7:30 PM)
  7. Manager’s Report, if any (7:30 PM – 7:35 PM)
  8. Other Business (7:35 PM – 7:45 PM)
  9. Executive Session
    A. Litigation
    B. Contracts

Town Manager’s Column – June 2017

ALL ABOUT TOWN

Stuart A. Hurd, Town Manager

 

At its first meeting in May, the Select Board announced the formation of a seven (7) member Charter Review Commission. Applications now total twelve (12). The Board has planned on a seven-member committee. The process to select appointees has not been set just yet. Although the Select Board has not worked out its charge to the Commission, the areas of the Charter that may be reviewed include the Select Board’s powers and authority, whether current elected officers, the Town Clerk, the Treasurer, and the Moderator, should remain as elected or changed to appointed as now allowed by State law, the Manager’s duties and responsibilities, whether the Downtown Taxing District purposes and powers should be amended and whether the Downtown Improvement District Map should become set by the Select Board, whether the Town’s current governing structure should be changed, and whether a 1% local option sales tax should be adopted for Bennington. The Select Board retains the final authority on what changes should be put before the voters in March 2018 or beyond.

The work on the development of a Tax Increment Financing District (TIF) will begin later this month. The consulting firm, White and Burke, is the pre-eminent firm for this type of work. We wish to develop a TIF District within our downtown and gather the necessary data and documentation to support it. Under current legislation, once the District is identified and an application for a TIF District developed, it must be presented to the Vermont Economic Progress Council (VEPC). It is important in this process that the community understand the impacts of the District and that the viability of the District can be shown to VEPC. I am told the process and review are rigorous and detailed. Once approved by VEPC, the Town must seek approval from the voters. The approval sought is to allow the Town to incur debt for the identified infrastructure improvements, roads, lighting, sidewalks, storm sewers, parking, etc., which will then stimulate development in the District. The debt incurred is then paid off utilizing the incremental increase in the Grand List due to the new development which then allows for the use of increasing education tax funds so that there is no impact on the taxpayers.

The negotiations between Saint-Gobain and the State continue. It now appears that there may be movement towards a resolution for those wells contaminated and located west of the railroad tracks that run to North Bennington from Bennington. There is disagreement between the State and Saint-Gobain for those properties east of the railroad tracks. Saint-Gobain continues to point to the former Houghton Lane landfill which was closed under EPA guidelines in 1999. Saint-Gobain’s engineering firm is developing plans to test soils and ground water in this area, including the former landfill. The Town is awaiting a review of those plans by the State and EPA before signing on.

You may have noticed work on a new solar farm progressing on the easterly side of Route 7 south just across from the Sheriff’s Department. This development by Encore Redevelopment will provide reduced cost electricity to the Town’s Wastewater Treatment Plant. When completed, all of the Town’s electricity will be provided by two renewable energy sources through net-metering agreements. The other source is the hydro facility at the Papermill Bridge operated by Bill Scully. Pretty cool, if you ask me.

We continue to move forward with necessary work at the Wastewater Treatment Facility to get ready for the bond vote in October. When successful, we will then complete the necessary upgrade of the Plant. Some of the work underway may create odors from time to time. We are working hard to mitigate that and avoid any other problems this work may create.

Remember, if anyone has any questions or suggestions arising from this column or on any town matters, please contact me at 442-1037 or stop in at the Town Offices on South Street.

Stuart Hurd is Bennington’s Town Manager. He writes a monthly column on town issues.

 

 

 

 

 

 

 

 

 

Select Board Meeting – June 19, 2017 & June 20, 2017

M E E T I N G   N O T I C E
BENNINGTON SELECT BOARD
Monday, June 19, 2017 & Tuesday, June 20, 2017

Bennington Free-Library – Rotary Room
101 Silver Street
(Please use night entrance)
Bennington, VT 05201

A G E N D A

5:15 P.M. – 7:30 P.M.

Monday, June 19, 2017

  1. Executive Session
    a. Litigation
  2. FY 2018 Water & Sewer Budget Work Sessions

Tuesday, June 20, 2017

  1. FY 2018 Water & Sewer Budget Work Sessions

 

 

 

 

Select Board Meeting – 06/12/17

M E E T I N G   N O T I C E
BENNINGTON SELECT BOARD
Monday, June 12, 2017
Bennington Fire Facility
Multi-Purpose Room – 3rd Floor
130 River Street
Bennington, VT 05201

A G E N D A
6:00 PM

  1. Pledge of Allegiance
  2. Consent Agenda (6:00 PM – 6:05 PM)
    A. Minutes – May 17, 2017, May 22, 2017 and June 5, 2017
    B. Warrants
    C. Bank of Bennington Proclamation
  3. Citizens (6:05 PM – 6:20 PM)               (sign up sheet provided)
  4. Accountable Community for Health (6:20 PM – 6:45 PM)
  5. TIF – An outline of the process (6:45 PM – 7:00 PM)
  6. Manager’s Report (7:00 PM – 7:10 PM)
  7. Other Business (7:10 PM – 7:25 PM)
  8. Executive Session (7:25 PM)
    A. Contracts

 

 

 

Select Board Meeting – June 5, 2017

 

M E E T I N G   N O T I C E

BENNINGTON SELECT BOARD
Monday, June 5, 2017
Bennington Police Department – Conference Room
118 South Street
Bennington, VT 05201

A G E N D A

5:15 P.M.

  1. Funding for Imperial Avenue wall repair
  2. Executive Session
    A. Contract

Select Board Meeting – May 22, 2017

M E E T I N G   N O T I C E
BENNINGTON SELECT BOARD

Monday, May 22, 2017
Bennington Fire Facility
Multi-Purpose Room – 3rd Floor
130 River Street
Bennington, VT 05201

A G E N D A

6:00 PM

  1. Pledge of Allegiance
  2. Consent Agenda (6:00 PM – 6:05 PM)
    A. Minutes – May 8, 2017
    B. Warrants
  3. Citizens (6:05  PM – 6:20 PM)
  4. Property Sales (6:20 PM – 7:00 PM)
    A. Woodlot (Niles Road)
    B. Highway properties (Depot St. & Orchard Rd.)
    C.Tax Sale acquired properties
  5. Bond Anticipation Borrowing (7:00 PM – 7:20 PM)
  6. Manager’s Report (7:20 PM – 7:30 PM)
  7. Other Business 97:30 PM – 7:45 PM)

 

 

 

 

Select Board Meeting – May 17, 2017

M E E T I N G   N O T I C E

BENNINGTON SELECT BOARD

Wednesday, May 17, 2017

Bennington Town Office – Conference Room
205 South Street
Bennington, VT 05201

AMENDED
A G E N D A

     5:30 P.M.                         

  1. Interviews – Boards & Commissions (5:30 PM – 6:00 PM)
  2. Executive Session (6:00 PM – 6:15 PM)
  3. Appointments to Boards & Commissions (6:15 PM)

 

 

Town Manager’s Column – May 2017

ALL ABOUT TOWN

Stuart A. Hurd, Town Manager

At its first meeting in May, the Select Board announced the formation of a seven (7) member Charter Review Commission. Applications may be obtained from the Town’s web site or from the Town Offices. Applications should be submitted to the Manager’s Office at 205 South street no later than May 22nd. Although the Select Board has not worked out its charge to the Commission, the areas of the Charter that may be reviewed include the Select Board’s powers and authority, whether current elected officers, the Town Clerk, the Treasurer, and the Moderator, should remain as elected or changed to appointed as now allowed by State law, the Manager’s duties and responsibilities, whether the Downtown Taxing District purposes and powers should be amended and whether the Map should become set by the Select Board or as by Charter, whether the Town’s current governing structure should be changed, and whether a 1% local option sales tax should be adopted for Bennington. The Select Board retains the final authority on what changes should be put before the voters in March 2018.

The Board also voted to hire a consulting firm to assist with development of a Tax Increment Financing District (TIF). The consulting firm, White and Burke, is the pre-eminent firm for this type of work. Although the Legislature has not formally approved more districts above the current cap, we are optimistic that this will happen. We wish to be ready to go so as to identify a TIF District within our downtown and develop the necessary data and documentation to support the creation of a TIF District here. Under current legislation, an application for a TIF District must be presented to the Vermont Economic Progress Council (VEPC). It is important in this process that the community understand the impacts of the District and that the viability of the District can be shown to VEPC. I am told the process and review are rigorous and detailed. Once approved by VEPC, the Town must seek approval from the voters. The approval sought is to allow the Town to incur debt for the identified infrastructure improvements, roads, lighting, sidewalks, storm sewers, parking, etc., which will then stimulate development in the District. It is a lengthy process. You’ll be hearing and reading much more on this should the Legislature remove the current cap.

The negotiations between Saint-Gobain and the State continue. It now appears that there may be movement towards a resolution for those homes contaminated and located west of the railroad tracks that run to North Bennington from Bennington. There is disagreement for those homes east of the railroad tracks. Saint-Gobain continues to point to the former Houghton Lane landfill which was closed under EPA guidelines in 1999. I remain hopeful that some work will start in 2017. I also firmly believe that the former landfill plays no role in the PFOA contamination. I am happy to say that the State agrees with me and is working with EPA to confirm that.

On May 20th, the Bennington County Solid Waste Alliance will hold its Spring Household Hazardous Waste Collection Day from 8 AM until 1 PM at the Bennington transfer station on Houghton Lane. On that same day, at Willow Park, Youth Appreciation Day will take place from noon to 4 pm.

The town-wide Hydrant Flushing begins Monday May 15th and runs until Friday May 26th. This is a State-mandated program which must be done every Spring and Fall. Some resident may experience low water pressure and/or discolored water. These are normal side effects that do not cause any health concerns. If you experience any of these, it is recommended that you refrain from doing any light-colored laundry (between 7:00am-5:00pm) and run your Cold Water ONLY until it runs clear.

Remember, if anyone has any questions or suggestions arising from this column or on any town matters, please contact me at 442-1037 or stop in at the Town Offices on South Street.

Stuart Hurd is Bennington’s Town Manager. He writes a monthly column on town issues.