Lawmakers, Vermont Economic Progress Council debate extending housing infrastructure TIF pilot and reporting requirements

Jessica Hartleben, executive director of the Vermont Economic Progress Council, told the Economic Development, Housing & General Affairs Committee that VEPC is prepared to administer the bill in its final form but urged lawmakers to give municipalities more runway to build infrastructure and to extend the pilot period from five to 10 years.

Hartleben said municipalities and developers need time to complete infrastructure before private building and for municipalities to begin retaining increment. "It takes about 5 years for infrastructure projects to be built before any building can occur and before any increment could be retained by the municipality," she said, adding that supply-chain issues and other delays can stretch timelines further. She also told the committee, "I think we could probably get this up and running by January, provided we have some direction from the legislature about what kind of metrics you're looking at." (Jessica Hartleben, executive director, Vermont Economic Progress Council)

Why it matters: The amendment now under discussion would change how a municipal tax-increment financing program aimed at stimulating housing is defined, administered and reviewed.…