This evening, the Middlebury selectboard voted to forward a CHIP application to the Vermont Economic Progress Council (VEPC) for the Middle Apartments project. Approximately $1.2 million would be provided for the project via a combination of 85% of the project’s municipal property taxes and 75% of the education property taxes for the next 20 years. For those 20 years, the town will receive 15% of the municipal property taxes that would otherwise be owed. The developer made clear that the project, consisting of 31 market rate apartments (no affordable or workforce units) as well as a commercial space (probably a restaurant), costing $20 million to build, would move forward with or without the CHIP money. What the CHIP money would provide is an increase in quality of materials and treatments.

If this project was not in the CHIP program, it would go on the grand list when completed, and the full increment of municipal and education taxes would be paid.

I know we need additional housing in town. But this project was going forward with or without the CHIP money. I just don’t think it makes sense for Middlebury to forgo municipal property taxes on a new housing project for 20 years in order to improve its quality. How about developing some criteria around these approvals? I suggest that to be eligible, projects should include a significant complement of affordable and workforce units; commercial development like a restaurant should be excluded (this money is to support housing); and the money should be “make or break” for the project — that is, required in order for the project to be financially viable. The Stonecrop Phase 2 project, whose application the selectboard voted to submit to VEPC at their last meeting and, if approved, will receive $4 million via the same process as described above, does meet these criteria. I suggest that the town not support forgoing 85% of municipal property taxes for 20 years for projects not meeting these key criteria.

Dorothy Mammen

Middlebury