3485 main street manchester village, vt 05254
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2020 Downtown and Village Center Tax Credit Program Application
Please complete all sections of this application using only the space provided on this form. See Section 8 on page 5 for a list of required attachments which must be submitted with the application. If you are not able to gather required attachments due to the Covid-19 Pandemic, contact program staff to discuss possible extensions. Application forms are due July 1, 2020. Copies of funded applications may be shared with the Vermont Department of Taxes.
SECTION 1: APPLICANT/OWNER INFORMATION
NAME OF OWNER/LESSOR LAST 4 DIGITS OF TAXPAYER ID
BUILDING ADDRESS
MAILING ADDRESS OF OWNER/LESSOR
DAYTIME PHONE & E-MAIL
CONTACT NAME & PHONE & E-MAIL IF DIFFERENT FROM ABOVE
SECTION 2: TAX CREDIT REQUEST SUMMARY Fill in values in Section 2 by transferring totals from the tax credit calculations worksheet on page 4.
AMOUNT OF 10% HISTORIC CREDIT REQUESTED
AMOUNT OF 50% ELEVATOR CREDIT REQUESTED AMOUNT OF 50% LULA CREDIT REQUESTED
AMOUNT OF 50% LIFT CREDIT REQUESTED AMOUNT OF 50% SPRINKLER CREDIT REQUESTED
AMOUNT OF 50% OTHER CODE CREDIT REQUESTED
SECTION 3: BANK OR INSURANCE CREDIT CERTIFICATE INFORMATION State tax credits may be assigned (sold) to a bank or insurance company. If you would like credits issued as a Credit Certificate, complete this section. Note: This information is typically provided when projects are complete. To determine tax implications for sale of tax credits specific to your circumstances, consult an accountant or tax attorney.
BANK NAME OR INSURANCE COMPANY NAME
ADDRESS, STATE, ZIP CODE
CONTACT NAME
CONTACT PHONE & E-MAIL
Matthew A. Latham 2340
3485 Main Street Manchester Village, VT 05254
69 Allen Street Allendale, NJ 07401
802-598-9558 [email protected]
AMOUNT OF 25% FACADE CREDIT REQUESTED
7,983
TOTAL CREDITS REQUESTED
7,983
Bank of Bennington
78 Center Hill Manchester Center, VT 05255
802.362.4760
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SECTION 4: BUILDING INFORMATION The information in this section is collected to provide data on program outcomes. Please complete all items.
Date of Building Grand List Value
Property SPAN #
Original/historic use(s) of the building
Current use(s) of the building
Square Feet: Before After
Housing Units: Before After
Commercial Units: Before After
SECTION 5: PROJECT SCOPE/TIMELINE Please briefly describe the scope of your project. What work will be completed? What will the building be used for? What changes/improvements will be made to accommodate new/expanded/improved uses?
Construction Start Date (month/year): Estimated Construction Completion Date (month/year): Most projects require some type of local or state review or permitting. Please list any permits and/or approvals required for your project and when they will be in hand.
If applicable, briefly identify project phases:
1790 480,900.00
375-116-11542
1790 - 1837 Tavern and Inn
Lodging4,465 4,465
3 30 0
The scope of the project entails restoring and remediating damage to the exterior facade of "TheWickham House" a historic building and contributing structures located in Manchester Village.Specifically clapboard siding and shutters will be repaired and replaced as needed, exteriorwrap-around porch wood columns and railings will be repaired, scraping of failed coatings,followed by spot priming of any bare wood, and new coating matched to the existing paintscheme.
The building use will remain the same: income producing property used for lodging.
No alterations, expansions or changes will be made. All existing materials will be replaced in-kindif damaged beyond repair, including but not limited to clapboard, shutters, and porch features.
May 2021
June 2021
According to Manchester Village Bylaws, no permits are required for repairs in the historic coresub-district if repairs involve the replacement of only the deteriorated or damaged portion or detailof a feature, rather than the entire feature.
n/a
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SECTION 6: PROJECT BUDGET
A. Funding SourcesPlease include all funding sources for the project. This includes private financing and bank loans, othertax credit equity, and any private or public grants or loans. Note if the funding is in hand, committed orplanned at the time of application.
Funding Source Status of Funding Amount
Total Project Funding
Please briefly list any partners both public and private involved in this project. For example, municipal partners, non-profit organizations, business owners/tenants, schools etc.
B. Project Budget SummaryComplete this chart based on estimated or actual costs. At minimum please include materials and laborcosts. Other budget categories might include soft costs, contingencies etc. Ideally costs will align with theproject scope described in Section 5. Do not attach any receipts or estimates. However, if funded, retainthese records in the event of an audit by the Vermont Tax Department.
Project Costs (please itemize) Total Cost (labor and materials)
Total Project Cost
Funding Gap (if any) and explanation:
Reserve for Replacement Account (R4R) Available 23,947.50
25% Façade Credit Planned 7,982.50
31,930.00
Private R4R funds are to be used in conjunction with the 25% Façade Credit.
Exterior restoration and painting 31,930.00
31,930.00
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C. Tax Credit CalculationUse this worksheet to complete Section 2 of the application on page 1. Note, most credit tiers havecaps. Historic credits cannot be combined with Façade credits (see sample calculations in the ProgramGuidelines document pages 8-9).
10% Historic Credit Actual/Estimated Costs approved by NPS
Costs up to $500,000 x .1
Costs over $500,000 x .05
Subtotal Historic Credits
25% Façade Credit (max $25,000) Total Façade Costs
Subtotal Façade Credits (Total costs x .25)
50% Elevator Credit (max $75,000) Total Elevator Costs
50% LULA Credit (max $60,000) Total LULA Costs
50% Lift Credit (max $12,000) Total Lift Costs
50% Sprinkler Credit (max $50,000) Total Sprinkler Costs
Subtotal Elevator/Sprinkler Credits (Total costs x .5)
50% Other Code Credit (max $50,000) Total Fire Prevention Costs
Total Electrical Costs
Total Plumbing Costs
Total ADA Costs
Total Hazard Abatement Costs
Total Brownfield Mitigation Costs*
Subtotal Other Code Credits (Total costs x .5)
GRAND TOTAL CREDITS REQUESTED
*Must be enrolled in the BRELLA program and have an approved Corrective Action Plan from the Agency of Natural Resources
Budget Narrative: Please describe how your budget numbers were compiled. For example, do you have estimates/quotes from contractors or cost estimators? Have you worked with an architect or consultant?
31,930.00 7,983.00
7,983.00
Quote has been received by Luxbrush Painting Co Inc. Luxbrush is the most qualified and reputablecontractor in the Manchester area. The company is responsible for the exterior maintenance andrepair of the Equinox Resort.
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1. E-mail at least 1-2 photographs that show the front of your building. Label these images with thename of your building and its location.
2. For 10% Historic Credit applicants, submit a copy of the Part 2 RITC cover sheet signed by NPS.
3. For 25% Façade Credit applicants, e-mail additional labeled photographs that clearly show all sidesof the building and its setting on the street before construction. Applicants should also include plansand/or explanation sufficiently detailed to show existing conditions and anticipated changes, e.g.,elevations, floor plans, sketches, or annotated photographs.
4. For 50% Code Credit applicants, provide evidence that you have met on site with a building inspectorfrom the Division of Fire Safety at the Department of Public Safety or, where authorized, a municipalfire marshal or building inspector to discuss the specific code requirements of the project. Typically,the state or municipal code official documents site visits in a letter that identifies the work required tobring the building into compliance. This letter is required with the application as it assures a final codeinspection and code compliance.
Note: If the project involves Brownfield Mitigation, you must provide evidence that the project isenrolled in the BRELLA program and has an approved Corrective Action Plan from the Agency ofNatural Resources.
If you are not able to gather any of the required attachments due to the Covid-19 Pandemic, contact program staff to discuss possible extensions. Completed applications are due July 1, 2020 by 4:30 pm.
Please email application forms to Caitlin Corkins at [email protected].
SECTION 7: PUBLIC BENEFIT Please describe how this project will meet a need in your community and have a long-lasting positive impact. For example, how will the project meet the needs of your community? Does it involve rehabilitation of a vacant or underutilized building? Does it help further local revitalization efforts? Will the project create jobs, attract a new business, or fill a need for housing? Will it have wider economic impact? Please reference applicable data and/or planning documents such as municipal or regional plans to demonstrate needs and impacts.
As a contributing structure to Manchester Village's historic core, visitors and tourists benefit from experiencing the historic beauty of one of Vermont's oldest villages. The property is located 150 feet from Equinox Resort, a historic hotel that hosts thousands of visitors every year. The rehabilitation of the facade will contribute to the architecture of a Village that demonstrates an unusually complete and well preserved record of a resort community between 1850 and 1925.The renovated facade will continue to promote the much loved grace and charm of historic buildings of Manchester Village and help attract more visitors to the area.
The property helps support employment of 6 local individuals, including property managers, caretakers, cleaners and landscapers. As a lodging facility, the property hosts over 600 renters annually. These renters contribute enormously to the local economy, dining at restaurants, shopping at locally-owned retailers, and supporting culturally significant attractions, such as Hildene and the Southern Vermont Arts Center.
According to local architect, Bill Badger,who nearly 40 years ago had a hand in the preparation of the nomination of the Wickham House and surrounding area to the National Register of Historic Places as part of the Equinox House Historic District, Bill stated “This is the oldest part of Manchester, and ‘the Street’ was widely known even as early as the 1850s when the town began to welcome what were known then as the summer people.” In fact, “the Street”—with its tall trees, tightly-clustered buildings representing a mix of residential, commercial, civic and religious–was considered to be the main attraction of the Village and townspeople forthrightly promoted it as such." To this day, the "Street" continues to be the core beauty of Manchester.
SECTION 8: REQUIRED ATTACHMENTS
