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VEPC outlines TIF administration role, defends program and requests technical statute fixes
Summary
Jessica Hartleben, executive director of the Vermont Economic Progress Council, told the Ways & Means Committee VEPC administers the statewide TIF program and proposed three technical changes to clarify statutes around improvements, timing of original taxable value and bond anticipation notes.
Jessica Hartleben, executive director of the Vermont Economic Progress Council (VEPC), told the House Ways & Means Committee that VEPC is the legislatively created independent council that evaluates, authorizes and oversees statewide tax increment financing districts.
"We are an independent council. We do not market or promote TIF," Hartleben said. She described VEPC’s statutory role to review applications, monitor financing plans and provide annual reports to the legislature, and she said VEPC receives analytic support from the administration’s economist, Jeff Carr.
John Russell, chair of VEPC, told the committee the council acts as a steward of the education fund and enforces the…
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