2023 Downtown Tax Credit recipients– 20 The Square and 5 Canal Street!
*Additional Tax Credit funding still available through January 16, 2023
Are you an investor who loves or is interested in Bellows Falls? In the Fall of 2020, The Town of Rockingham partnered with the Incremental Development Alliance. Sponsored by the Brattleboro Development Credit Corporation and the Southeastern Vermont Economic Development Strategy with matching funds by Preservation Trust of Vermont, Vermont Natural Resources Council, the Vermont Council for Rural Development (who brought us Take Action Rockingham 2019-2020), Vermont Community Foundation…
Check out the Residential Target Market Analysis for the Village of Bellows Falls from March 2021. Draw comparisons and your own conclusions and observations. See how some of the data correlates and share this with investors, developers, landlords, your friends and family.
Bellows Falls is a member of a community revitalization program managed by the State of Vermont Agency of Commerce & Community Development that helps to preserve the historic character and enhance the future of medium to large-sized historic centers. Since 1999 Downtown Designation has provided communities with financial incentives, training and technical assistance supporting local efforts to restore historic buildings, improve housing, design walkable communities and encourage economic development by incentivizing public and private investments.
DONATIONS gladly accepted
Bellows Falls Downtown Development Alliance works with building owners to apply for:
10% Historic Tax Credits ■ Available as an add-on to approved Federal Historic Tax Credit projects. ■ Eligible costs include interior and exterior improvements, code compliance, plumbing and electrical upgrades.
25% Historic Tax Credits ■ Eligible facade work up to $25,000.
50% Code Improvement Tax Credits ■ Available for up to $50,000 each for sprinkler systems; up to $75,000 for elevators; and $12,000 for lifts. ■ Eligible code work includes ADA modifications, electrical, fire safety, or plumbing up to $50,000.
Municipalities that receive designation collaborate with local non-profit downtown organizations supporting efforts through funding, staff, partnerships and volunteers. The downtown program utilizes the Main Street Approach which is a proven strategy that encourages communities to take steps to enact long term change, while also implementing short term, inexpensive activities that attract people to the downtown and create a sense of enthusiasm and momentum about their community.
