Find Nonprofit and Small Business Grants

Advance Search

Only Available for Paid Subscribers
Clear Filters
Search Filters

Downtown and Village Center Tax Credit Program

Tax Credits to Vermont Property Owners to Enhance
Historic Buildings in Eligible Commercial Areas

Agency Type:

State

Funding Source:

Add to My Calendar 

Vermont Agency of Commerce and Community Development (ACCD), Department of Housing and Community Development (DHCD)

Deadline Date:

07/01/20 Close of Business (4:30 PM)

Description:

Request a Grant Writer

Tax credits to Vermont property owners and lessees for projects that enhance income-producing historic and older structures in eligible village centers and downtown areas. The federal and state tax credits are intended to help stimulate private investment, create jobs, restore buildings, and jumpstart revitalization in Vermont communities. Eligible uses of funds are for general rehabilitation, code compliance, and exterior improvements that enhance the historic character of a building or increase the safety of older and historic commercial sites.

Description of credits available through the program:  

  • 10% Historic Tax Credit: Available only for approved Federal Rehabilitation Tax Credit projects. This credit is not capped; however, the first $500,000, and half of the costs exceeding $500,000, are eligible for the credit. Work must meet the Secretary of the Interior’s Standards for Rehabilitation (see Appendix C).
  • 25% Façade Improvement Tax Credit: Available for exterior repairs and/or improvements to the front (public) façade of a qualified building. Up to $100,000 in eligible costs for a maximum of $25,000 in credits is available. Projects eligible for the 10% historic credit above are ineligible for façade credits. Work must meet the Secretary of the Interior’s Standards for Rehabilitation (see Appendix C).
  • 50% Code Improvement Tax Credit: Available for investments made to bring buildings into compliance with current building codes. Credit allocations are up to $75,000 for elevators, up to $50,000 for sprinkler systems, up to $60,000 for limited use/limited application elevators (LULAs) and up to $12,000 for lifts. Other code work to meet ADA requirements, electrical or plumbing codes, and the abatement of hazardous substances like lead paint and asbestos is eligible for a credit allocation of up to $50,000 for the combined costs of these improvements. Code credit projects must be inspected by state code officials or, where authorized, a municipal fire marshal or building inspector.

GrantWatch ID#:

GrantWatch ID#: 172538

Estimated Size of Grant:

The amount of the credit is based on total rehabilitation costs. The federal credit is 20% of eligible rehabilitation expenses. The state credit is between 10% and 50% of eligible rehabilitation expenses. However, there is an annual cap, and selection criteria are applied to ensure the credits are allocated to projects that provide the most public benefit. When taxpayers receive allocations under both programs, the return can be as high as 70% of eligible rehabilitation expenses.

Term of Contract:

Projects selected for funding must be completed and the applicant must claim the tax credit within three years from the date of this allocation.

Additional Eligibility Criteria:

- Eligible Applicant: Owners or lessees of a qualified building may apply for credits, including non-profit organizations. Federal, state and local governments are not eligible for tax credits.
- Eligible Building: Buildings at least 30 years old at the time of application, located within a Designated Downtown or Village Center, and not used as a single-family residence.
- Minimum Expenditure: Total project costs must exceed $5,000 for any of the tiers of credits to apply.
- Application Time Frames: Applicants are encouraged to apply before work begins; however, they may apply for work that is underway. Projects completed before July 1, 2020 are not eligible.
- Combining Credits: The 10% historic and 25% façade improvement credits may not be used on the same project. The 50% code improvement credit may be combined with either the 10% historic or 25% façade improvement credit, provided the applicant does not claim credits more than once on any eligible expenditure. Applicants intending to use more than one category of credits must do so on a single application.
- Maximum Amount: Projects within a single municipality may not receive more than $780,000 in tax credits per fiscal year (30% of the total cap).
- Limitations: Buildings receiving tax credits are ineligible for additional tax credits for two years from the date of the initial allocation. The sales tax reallocation program for Designated Downtowns may not be combined with any of the tax credits on the same project.

Projects that involve Brownfield Mitigation require evidence that the project is enrolled in the BRELLA program and has an approved Corrective Action Plan from the Agency of Natural Resources.

Projects that do not meet the Standards for Rehabilitation will not be considered. To verify: https://www.nps.gov/tps/standards/four-treatments/treatment-rehabilitation.htm

Pre-Application Information:

Applications are due July 1, 2020 by close of business (4:30 pm).

Allocation decisions will be made by the Downtown Development Board (Downtown Board) at their regularly scheduled monthly meeting on July 20, 2020.

Contact program staff before the deadline to discuss any delays in submitting application materials due to the Covid-19 Pandemic

To inquire if the property is eligible, email Caitlin Corkins or enter the building's street address in the Planning Atlas Viewer found in Additional Geographic Information found below.

For specific advice on a project, staff is available to meet on site and discuss how the Standards for Rehabilitation apply to individual projects. Some projects may require working with the Department of Public Safety or a locally designated Fire Marshal and/or Building Inspector. Interested applicants are encouraged to contact Caitlin Corkins to schedule a meeting to discuss specific project details and meeting the Standards before work begins.

Downtown Designation: https://accd.vermont.gov/community-development/designation-programs/downtowns

Village Center Designation: https://accd.vermont.gov/community-development/designation-programs/village-centers

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Applications should be submitted electronically to:
Caitlin Corkins, Tax Credits & Grants Coordinator
caitlin.corkins@vermont.gov
802-828-3047

Mailing Address:

Department of Housing and Community Development
One National Life Drive
Davis Building, 6th Floor
Montpelier, VT 05620-0501

Grant Coverage Areas:

For property eligibility, see the Planning Atlas Viewer at http://maps.vermont.gov/ACCD/PlanningAtlas/index.html?viewer=PlanningAtlas.

URL for Full Text (RFP):

Geographic Focus:

USA: Vermont

Suggested Grants:

Fundraising and Publicity Opportunity for USA, Canada, and International Nonprofits for Cult...

Deadline Ongoing

Fundraising opportunity for USA, Canada, and International nonprofit organizations to host a jazz concert held in honor of their organization or cause. Applicants must contact the funding source prior to applying. In addition to funds raised through concert ticket sales

GrantWatch ID#: 123735

Grants to USA Nonprofits to Address the Climate Crisis and Reduce Inequality

Deadline Ongoing

Grants to USA nonprofit organizations to reduce social inequality and promote solutions to the climate crisis. Eligible programs will address the areas of racial and economic justice, corporate and political accountability; voice, creativity, and culture; and an inclusi

GrantWatch ID#: 123756

Grants to USA and Canada Nonprofits for Projects to Protect Wildlife and Natural Habitats

Deadline 10/01/20

Grants of up to $3,000 to USA and Canada nonprofit organizations for projects to protect wildlife and natural habitats. Funding is intended for campaigns to save specific species and ecosystems. Eligible activities include public policy work, litigation, advocacy, and d

GrantWatch ID#: 129644

Grants to USA and Canada Low-Income Individuals and Families for Financial Assistance

Deadline Ongoing

Grants to USA and Canada individuals and families with low-income for financial assistance. Types of assistance include financial support to offset emergency expenses or to cover the cost of regular monthly bills. Funding is intended for workers and households that are

GrantWatch ID#: 131400

Grants to USA, Mexico, and Haiti Nonprofits, Agencies, and For-Profits to Assist Underserved ...

Deadline Ongoing

Grants to USA, Mexico, and Haiti nonprofits, for-profit organizations, and government entities for programs and services that improve the quality of life for underserved children. Focus areas include working families, equitable communities, and thriving children. The Fu

GrantWatch ID#: 133552

Donations & Sponsorships to USA Nonprofits & For-Profits for Education, Literacy, and the Ar...

Deadline Ongoing

Donations to USA nonprofit organizations for programming support for arts, pre-K-12 education, and literacy programs across the country. In addition, sponsorship opportunities are provided to USA for-profit and nonprofit organizations focusing on literacy, the arts, a

GrantWatch ID#: 134869

Grants to USA Nonprofits for Architecture, Education, Arts, Scientific Research, and Communi...

Deadline Ongoing

Grants to USA nonprofits for activities that positively impact people around the world and their communities. Support is primarily given to programs in the areas of architecture and the arts, education, addressing the needs of underserved communities, and scientific res

GrantWatch ID#: 138286

Award to a USA, Canada, or International Individual or Team for Accomplishments in Medical R...

Deadline 07/31/20

Award to a USA, Canada, or International scientist or team of scientists to recognize outstanding medical research accomplishments. Researchers eligible for nominations may be from any public or private organization or institution, including commercial or government ent

GrantWatch ID#: 139483

Fellowships for USA, Canada, and International Scholars for Research Projects

Deadline 07/15/20

Fellowships for USA, Canada, and International scholars with an advanced degree to conduct research. Fellowships are intended for researchers with an interest in social science and humanities projects. The Funding Source has a special interest in those projects that dem

GrantWatch ID#: 139604

Grants to USA, Canada, and International IHE Students and Faculty for Research Related to th...

Deadline 10/01/20

Grants of up to $5,000 to USA, Canada, and International individuals for research to benefit the health and safety of children and youth. Funding is intended to support research by graduate students and faculty affiliated with an educational or charitable nonprofit inst

GrantWatch ID#: 140392