Vt. tax credits will continue Morrisville revival - WCAX.COM Local Vermont News, Weather and Sports-

Vt. tax credits will continue Morrisville revival

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MORRISVILLE, Vt. -

Two million dollars in state tax breaks greases the wheels for $20 million in downtown development; 31 projects throughout Vermont will receive a cumulative total of $2 million in tax credits.

Developers say challenging makeovers of historic downtown buildings often aren't feasible without the funds.

Rep. Shap Smith, D-Vt. House Speaker, says positive results from previous efforts convinced him the credits can reshape his hometown.

"We see what it's done in communities like Hardwick, we see what it has done in communities like Waterbury, and we are going to see what it's going to do in a community like Morrisville," Smith said.

The state granted six Morrisville proposals, totaling more than $300,000, more than any other community. Plans include refurbishing the Union Bank Building and transforming the old Arthur's Department store into an apartment complex.

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