State Awards TIF District To Barre
The state has given Barre authority to establish a special tax district that's designed to help the city pay for public works that will attract economic development.
Five other communities have adopted similar tax increment financing districts, which are designed to help them build public projects that they can't otherwise afford.
Mayor Thom Lauzon announced the district in a letter to Barre's City Council.
Barre joins Burlington, Winooski, St. Albans and Hartford, all of which have tax increment financing as a tool to stimulate economic development.
"This is a significant achievement for our city," Lauzon says in his letter to the City Council. "We will use it well and will promote smart growth in our central business district."