§ 2795. Considerations for competitive-based incentives [Repealed effective July 1, 2034]
In awarding competitive-based financial incentives under section 2794 of this title, including a rebate and tax incentives, or in awarding grants or other assistance
from the Downtown Transportation and Related Capital Improvement Fund under section 2796 of this title, the Vermont Downtown Development Board shall give consideration to the following
factors:
(1) the vacancy rate for existing buildings in the downtown district;
(2) the current or projected unemployment rate for the labor market area in which the
municipality is located;
(3) ordinances or bylaws adopted by the municipality that support the preservation of
the downtown’s vitality, including:
(A) an ordinance or bylaw requiring that new construction in the downtown development
district shall be compatible with the buildings that contribute to the integrity of
the district, in terms of materials, features, size, scale and proportion, and massing
of buildings, and that exterior rehabilitation shall respect the historic and architectural
significance and its exterior features; and
(B) a conditional use provision in a town zoning ordinance that supports adaptive reuse
of historic properties;
(4) the integration of the proposed improvements with any coordinated plan for the downtown
district and surrounding area;
(5) the degree of any deficiency in the downtown district of transportation infrastructure
including parking facilities;
(6) the vulnerability of the downtown district to economic decline due to competing development
in adjacent areas;
(7) the immediacy of the benefits provided and the desirability of prompt action to secure
those benefits for a downtown district;
(8) the amount of investment from individual Vermont taxpayers that has been committed
to projects in the downtown district. In considering this factor, the Board shall
recognize the value of individuals participating in downtown projects by giving preference
to applications for incentives from individual Vermont taxpayers, and projects coordinated
by developers who have encouraged the participation of such investors. (Added 1997, No. 120 (Adj. Sess.), § 1; amended 1999, No. 159 (Adj. Sess.), § 33; repealed by 2023, No. 181 (Adj. Sess.), § 65(a), eff. July 1, 2034.)
§ 2795. Repealed. 2023, No. 181 (Adj. Sess.), § 65(a), eff. July 1, 2034.
(Added 1997, No. 120 (Adj. Sess.), § 1; amended 1999, No. 159 (Adj. Sess.), § 33; repealed by 2023, No. 181 (Adj. Sess.), § 65(a), eff. July 1, 2034.)