Pownal’s Economy Gets A Boost
The town of Pownal Vt. has been awarded village designations from the Vermont Department of Housing and Community Development, encompassing North Pownal, Pownal Village and Pownal Center.
The Bennington Banner reports the program offers downtown and village center tax credits, priority consideration for state grants and state building and general services, and potential for designation of neighborhood development areas, within which qualified projects are exempt from the land gains tax for housing units sold.
Tax credits are available for income-producing properties within the designated village area, to support things like historical facade work, code improvements and installation or improvements to data and network installations.
Numerous state grants are listed for priority consideration, including Municipal Planning Grants, Vermont Agency of Transportation grants, state Historic Preservation Grants and Vermont Community Development Program Grants.
These grants variously support towns, nonprofits, churches and businesses.
The plan identifies development in these areas as critical for increasing economic development activity, reducing dependence on fossil fuels and creating compact centers.