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Middlebury Pioneers Housing Infrastructure Loan | Montpelier News
Middlebury is blazing a trail in Vermont by becoming the first town to use CHIP, a bold new program letting it borrow money for housing infrastructure—roads, sidewalks, and more—paid back over 20 years via taxes from the new homes themselves. Spearheaded by Summit Properties for Stonecrop Meadows’ next phase of 74 mixed-income homes, this tax increment financing model avoids passing costs to buyers while tackling the housing shortage. The town voted unanimously to move forward, aware it may see a slight tax hike and increased service costs—but sees it as a necessary step. With state review…
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