On Monday, the city of Rutland received a $3 million grant from the Northern Border Regional Planning Commission. That money will help cover the roughly $7.8 million needed for the project to revitalize Center Street, providing new infrastructure, sidewalks, and a hotel. Last month, the Vermont Economic Progress Council approved a Tax Increment Financing District for the City. They are now in the process of approving a phase filing for the district. After that, the TIF district will be heading to voters in the fall on a $3.1 million bond. The city said other grants will help to cover the rest of the cost. City Mayor Mike Doenges said this project has been in discussion since the 1970s. Now that it’s gained momentum, he’s hopeful to see it through. “I think the most important thing is to communicate that while they have to vote on us taking out this debt, the debt will not affect their property tax rate,” he said. If the bond passes, it’s unclear exactly when construction would start. While the project has gained support, construction would be disruptive. NBC 5 spoke with one business off camera who said they fear the construction, depending on its duration, could potentially put them and others out of business. The mayor said he wants to do as much as he can to prevent that. “We want to make sure that there’s still at least access. We’re thinking about parking, we’re thinking about the dust, and how we’re going to physically control it. We are cognizant that this is the lifeblood of many of those people who own businesses,” Doenges said. Other business owners said the investment is worth it. Michele Farrington, the manager of Phoenix Books’s Rutland location on Center Street, said after experiencing the pandemic, they’ll be able to work through the project. “We have ways to be creative, to get books into people’s hands,” she said. “So we’ll be looking for all those opportunities to work with our customers and our supporters of Phoenix books, as well as our other downtown businesses.”
On Monday, the city of Rutland received a $3 million grant from the Northern Border Regional Planning Commission.
That money will help cover the roughly $7.8 million needed for the project to revitalize Center Street, providing new infrastructure, sidewalks, and a hotel. Last month, the Vermont Economic Progress Council approved a Tax Increment Financing District for the City. They are now in the process of approving a phase filing for the district.
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After that, the TIF district will be heading to voters in the fall on a $3.1 million bond. The city said other grants will help to cover the rest of the cost.
City Mayor Mike Doenges said this project has been in discussion since the 1970s. Now that it’s gained momentum, he’s hopeful to see it through.
“I think the most important thing is to communicate that while they have to vote on us taking out this debt, the debt will not affect their property tax rate,” he said.
If the bond passes, it’s unclear exactly when construction would start. While the project has gained support, construction would be disruptive. NBC 5 spoke with one business off camera who said they fear the construction, depending on its duration, could potentially put them and others out of business.
The mayor said he wants to do as much as he can to prevent that.
“We want to make sure that there’s still at least access. We’re thinking about parking, we’re thinking about the dust, and how we’re going to physically control it. We are cognizant that this is the lifeblood of many of those people who own businesses,” Doenges said.
Other business owners said the investment is worth it. Michele Farrington, the manager of Phoenix Books’s Rutland location on Center Street, said after experiencing the pandemic, they’ll be able to work through the project.
“We have ways to be creative, to get books into people’s hands,” she said. “So we’ll be looking for all those opportunities to work with our customers and our supporters of Phoenix books, as well as our other downtown businesses.”
