VRV Project Selected as Semi-Finalist for National Award

//VRV Project Selected as Semi-Finalist for National Award

VRV Project Selected as Semi-Finalist for National Award

Vermont Rural Ventures’ innovative financing of the redevelopment of Brattleboro’s Brooks House has been chosen as a semi-finalist by the National Development Council (NDC) for its Academy 2015 Awards. The awards recognize the top economic and community development projects in the nation and are part of the NDC Academy 2015 biennial conference.

Vermont Rural Ventures, the community development subsidiary of Housing Vermont, partnered with the Massachusetts Housing Investment Corporation, to provide $23.4 million in New Markets Tax Credit authority to redevelop and restore the historic circa 1871 Brooks House, a mixed-use commercial building located in the heart of Brattleboro’s downtown.

“The Brooks House block occupies a prominent place in downtown Brattleboro,” said Housing Vermont President Nancy Owens. “Redeveloping that property following the devastating fire in April of 2011 was absolutely critical to a vibrant downtown. We’re gratified that our role in this community project is being recognized on the national stage.”

Completed in the fall 2014, the Brooks House includes classrooms for the Vermont Technical College and the Community College of Vermont, shops, three restaurants and 23 mixed-income apartments. For photos and to learn more about the Brooks House project, visit: http://vermontruralventures.com/vrv-projects/brooks-house-brattleboro/

The Historic Brooks House Redevelopment Project was selected by NDC as a semi-finalist in the Community Development category. One project in each category will be awarded the top honor at the NDC Academy 2015 Awards on May 14.

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About Vermont Rural Ventures (VRV)

Vermont Rural Ventures (VRV) uses its federal New Markets Tax Credit (NMTC) allocations to help businesses and nonprofits grow and expand in Vermont’s downtowns, manufacturing, nonprofit and value-added food and farm sectors. The NMTC program lowers the cost of capital for important infrastructure, expansion, machinery and equipment, or acquisition projects and spurs additional private investment in low-income communities. VRV is a community development entity wholly owned by nonprofit Housing Vermont.

2016-10-31T14:47:19+00:00 March 31st, 2015|VRV News|

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