House committee weighs CHIP bill changes as Springfield school reuse is offered as test case

The Vermont House Committee on Commerce and Economic Development continued its review Friday of draft legislation to create a Community Housing Infrastructure Program, or CHIP, with developers and regional representatives urging flexibility on housing-percentage requirements and eligible uses of tax increment financing.

Bob, a representative of the Springfield Regional Development Corporation, told the committee the former Park Street School in Springfield could be a CHIP pilot if the bill allows more flexible, mixed-use conversions. "It's historic, but no. Why? Because the math doesn't work," Bob said, describing a plan that would convert roughly 20–30% of the 90,000-square-foot building into about 25 housing units and require roughly $18,000,000 more in investment for housing and energy upgrades. He said SRDC spent about $70,000 this winter just to keep the building heated and noted the site contains a historic gymnasium and auditorium whose occupancy has been limited by code.

David White, president of Whitework Bridal Estate Advisors (testifying on a volunteer basis), pressed the committee to keep the CHIP application process simple and to avoid complex affordability compliance requirements that would create ongoing administrative burdens. "I come down pretty solidly on the side of don't have those affordability requirements," White said,…