By JOHN FLOWERS
ADDISON COUNTY â€” The Vermont Downtown Development Board (VDDB) on Thursday awarded $837,039 in tax credits to redevelopment of older and/or historic buildings in 11 communities, including a combined total of $236,344 for the renovation of structures in Middlebury and Vergennes.
Among those awarded tax credits were Middleburyâ€™s Town Hall Theater ($160,640); the Grist Mill at 360 Main St., Vergennes ($61,693); and 94-96 Main St., Vergennes ($14,011).
Projects on the list involving private property are now entitled to tax deductions to help underwrite qualifying renovations. Nonprofits on the list can sell their credits to a bank to raise cash for their projects, under a new program approved by the Legislature last year.
Property owners cannot claim any of the credits until their respective building repairs are completed.
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