Shumlin announces $1.8 million in downtown tax credits

first_imgGovernor Peter Shumlin announced today the allocation $1.8 million in tax credits to downtowns across the state to support nearly $30 million in building improvements.  The credits, competitively awarded by the Downtown Development Board, went to 15 projects ranging in size from a small community group’s efforts to open the shuttered village store in Guilford to more substantial private investments like the conversion of Winooski’s Champlain Mill into a hub for rapidly growing technology firms like MyWebGrocer.  Other projects include the preservation of 37 affordable housing units at the Wharf Lane apartments in Burlington and 41 senior housing units at the former Hotel Rockingham in Bellows Falls.   A complete list of tax credit projects is included below. The tax credit is one of the primary benefits of Downtown and Village Center Designation and assist hard-to-finance building revitalizations seen in community centers across the state.   Most of the funding supports state-mandated code retrofits — like elevators and sprinklers systems — that are cost prohibitive to most commercial building owners.  ‘This program has an impressive track record.  A recent study showed that every dollar of tax credits leverages $16 more in outside investment, and every $1 million in tax credits resulted in 109 jobs,’ said Gov. Shumlin.  ‘I know of few other state programs that provide such a substantial return on public investment to our communities and economy.’ Noelle Mackay, Commissioner of the Department of Economic, Housing, and Community Development and Chair of the Downtown Board, agreed, adding, ‘To improve Vermont’s quality of life and economy we must make investments to make communities strong and vital. This program does that and I’m enthusiastic about its potential to tackle the Governor’s priorities   ‘ stimulating much-needed local economic activity and job creation, promoting housing choices, and improving the state’s infrastructure in a sustainable way .’ The Downtown Program is a training and incentive effort to help maintain Vermont’s compact development pattern by targeting state resources to promote the efficient use of land, infrastructure, and resources.  Over 100 of Vermont’s Downtowns and Village Centers are designated and these communities receive priority for consideration for state funding, increased Act 250 thresholds, and tax credits to promote vital communities.       2010 Downtown and Village Center State Tax Credits ProjectAllocation Total CostEligible WorkBrattleboro / 151 Main Street (Renaissance Fine Jewelry)$               95,834  $             580,000 sprinkler/codeBarre / 159 North Main Street (Former Homer Fitts)$               53,075  $             210,900 sprinkler/lift/code/façadeBarre / 210 North Main Street (Quarry Grill & Tavern)$               17,176  $             240,000 elevator/sprinkler/rehabBellows Falls / 45 Rockingham Street (Hotel Rockingham)$             162,502  $          2,203,575 sprinkler/code/façadeBurlington / 57 Maple Street (Wharf Lane)$             277,228  $          8,761,000 elevator/sprinkler/code/rehabCavendish / 1589 Main Street (Glimmerstone)$             112,740  $          1,142,793 sprinkler/code/rehabEssex Junction / 8 Railroad Avenue$               48,750  $             400,000 sprinkler/code/façadeGuilford / 475 Coolidge Highway (Village Store)$               13,018  $             993,393 sprinklerHardwick / 71 Wolcott Street (Riverview Building)$             193,200  $          1,114,000 sprinkler/code/rehabMorrisville  / 82 Portland Street $             102,500  $             650,000 elevator/sprinkler/code/rehabSaxtons River / 35 Main Street (Main Street Arts)$               83,050  $             533,473 elevator/sprinkler/codeSt. Albans / 18-20 Lake Street$               99,300  $             393,000 sprinkler/code/rehabSt. Albans / 58-60 Lake Street (St. Albans House)$             174,725  $          1,104,500 elevator/sprinkler/code/rehabSt. Johnsbury / 1302 Main Street (Fairbanks Museum)$               50,000  $             278,191 sprinkler/code/rehabWinooski  / One Main Street (Champlain Mill )$             341,902  $       11,156,837 rehab $      1,825,000  $    29,761,662last_img read more

Credit unions vs. banks: The battle rages on

first_img 26SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Pettit John Pettit is the Managing Editor for CUInsight.com. John manages the content on the site, including current news, editorial, press releases, jobs and events. He keeps the credit union … Web: www.cuinsight.com Details The war between credit unions and banks may be one that never ends. But when it comes to the fight for members, it’s one credit unions would prefer to win. So how can credit unions come out on top? Let’s look at what credit unions do well while keeping tabs on the areas in which banks excel. Here are four statements that credit unions should keep in mind…Credit unions care more about their members: This one is easy. Banks are looking to make huge profits, and this isn’t a primary focus for CUs. Because of this, credit unions can offer lower rates on loans and credit cards and higher rates on deposit accounts. This is a huge factor for helping credit unions gain business.Banks tend to have better technology: Hey, don’t get mad. On the whole, you know it’s true. While some credit unions do a pretty good job of keeping up with the big boys when it comes to technology, a lot of credit unions have some catching up to do. Mobile banking, mobile deposit, and even something as basic as a functional website are some tech areas in which credit unions often lag behind. Technology equals convenience, and that’s something consumers care a lot about.Credit unions provide better service: One downside of technology is that there’s hardly a reason to go into a bank branch anymore. And when that occasion occurs, it’s probably not very likely that you’ll see any familiar faces. At smaller credit unions branches, you’re a lot more likely to see recognizable faces who know your name. That’s something special that you’re not likely going to get at Chase or Bank of America.Banks seem to be everywhere: Speaking of convenience, having local branches nearby can be very convenient. I had a friend who recently had to drive out of state to get a cashier’s check from his credit union in order to close on a new home. While he loves his credit union, he spent half a day doing something that could have taken 30 minutes at a regional bank. Obviously, there’s always exceptions. Some credit unions participate in shared branching and a lot of smaller banks only have a handful of branches.The positives that credit unions bring far outweigh the positives of banks in my opinion. But I think it’s important to remember that even when you do some things great, there are always areas in which you could be stronger.last_img read more

Chiefs too strong for Connacht

first_img After a 30-24 defeat at Bayonne last week, Rob Baxter’s side bounced back in style as tries from Will Chudley, Henry Slade, Damian Welch, D avid Ewers and Ben White secured victory, while Gareth Steenson added four conversions. The Aviva Premiership side now top Pool Two, which is finely poised with all four teams having won one and lost one, by a point. Exeter have a slight advantage over their opponents due to the two contrasting bonus points they have accrued from the opening games. They next face a trip to French side La Rochelle, who beat Bayonne 25-13 on Friday, when the competition resumes on December 4. Greig Laidlaw kicked 20 points as Gloucester marched on in Pool Five with a 25-15 win at Oyonnax. The Scottish scrum-half booted six penalties and converted Matt Kvesic’s second-half try as the Cherry and Whites followed their opening 55-0 triumph over Brive with another win to comfortably remain top of their section. Zebre are next up for Gloucester at Kingsholm and the Aviva Premiership side will already be hot favourites to ease through. In Pool Three, Stade Francais edged Bucharest Wolves 13-9 to get their first win in the competition, thanks to Digby Ioane grabbing the only try of the match and South African Morne Steyn adding eight points with his boot. Cardiff Blues maintained their 100 per cent start in Pool One with an impressive 33-18 win over Italian side Rovigo. The Blues pack was key as Kristian Dacey, Josh Turnbull, Gethin Jenkins, Manoa Vosawai and Macauley Cook all powered over to clinch Cardiff’s second try bonus point. Exeter Chiefs ran in five tries during an impressive 33-13 home victory over Connacht to put their European Challenge Cup campaign back on course.center_img Press Associationlast_img read more

Schuette stops by Alpena in final days before midterms

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisAlpena — Republican Gubernatorial Candidate Bill Schuette and his running mate Lisa Posthumus Lyons made a quick stop in Alpena to have coffee with supporters early Friday morning.The ticket shook hands with a small crowd of residents eager to have a few words with them. Schuette and Lyons talked about a variety issues including the paycheck agenda, border security, auto insurance rates, etc.State Representative Sue Allor and Republican 1st Congressional Chairman Jesse Osmer gave words of support for the ticket who face a tough challenge in Democratic Gubernatorial Candidate Gretchen Whitmer and her running mate Garlin Gilchrist.Schuette wants to address a couple of items if he gets the nod on Tuesday.“Eliminate the Granholm/Whitmer income tax increase which was suppose to have been temporary, but it’s been lingering on for over 10 years,” said Schuette. “The second issue is auto insurance rates… you know it’s crazy that we pay $1,000 more than any other state in America.”The Midland native and current attorney general also addressed PFAS and pledged his full support to addressing the problem, aiding local, state, and federal government in whatever they need to take care of the problem.The election takes place on November 6. Polls open at 7:00 a.m. AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Bill Schuette, Border Security, Democrat, governor, Lisa Posthumus Lyons, Paycheck Agenda, Republican, RepublicansContinue ReadingPrevious Local youth gymnastics team ready to fly high this weekendNext Home Owners Should Update Carbon Monoxide Detectors During Upcoming Winter Seasonlast_img read more

African U-20 Championship:Ticket prices for Ghana vrs Gabon announced

first_imgThe Ghana Football Association has announced ticket prices for the Black Satellites’ African Youth Championship qualifying first leg match against Gabon to be played at the Accra Sports Stadium on Sunday, August 17. A flat rate of GHC 3 will be charged at the gates for all sections of the stadium except the VIP which will go for GHC 5. Kick off time for the game is 3pm.As part of their preparations for the game, coach Sellas Tetteh’s side will train at the Accra Sports Stadium on Friday at 3pm.The Gabonese U-20 team who arrived in Accra on Wednesday, will also train at the match venue on Saturday, August 16 from 3pm-4pmbefore the Satellites hold their last training session from 4-5pm.The media are cordially invited to cover the Friday and Saturday training sessions and the match on Sundaylast_img read more