Hartford to seek $5.5M for infrastructure upgrades
WHITE RIVER JUNCTION, Vt. (AP) — Officials in Hartford, Vermont, have proposed a $5.5 million in tax increment financing to fund downtown infrastructure improvements.
The Valley News reports the Aldrich and Elliott Water Resource Engineers president Wayne Elliott said Tuesday that the TIF would support upgraded water lines, new sidewalks, a renovated retaining wall and improved streets.
TIF financing would allow Hartford to fund the improvements through tax revenue garnered by increased property values. Residents still need to approve the financing plan through a vote.
Hartford planning and development director Lori Hirshfield had previously proposed a plan to reconfigure the Town Square parking lot that would cost $811,700. However, the Selectboard tabled the project to save money.
Hartford’s capital improvement plan will cost nearly $17.4 million.
Information from: Lebanon Valley News, http://www.vnews.com