by Andrew Martin
The Village of Cambridge has officially earned the designation of a Village Center. The application for the designation was submitted by the Cambridge Village Trustees earlier this year and was approved by the Vermont Downtown Board on September 24.
The village designation means that businesses and properties included in the village are now eligible for federal and state rehabilitation tax credits. In 2012 alone $2,286,484 in state income tax credits were made available for projects in designated village centers that aimed to improve the safety of older buildings, with $500,000 of that total earmarked for refundable flood recovery credits. Another added benefit for Cambridge Village is the fact that the municipality and any non-profits in the village also will now receive first priority when applying for several different state grant programs.
Cambridge is the newest village to receive the designation and the second in the Town of Cambridge. Jeffersonville, Hyde Park, Stowe, and Waterville are the other designated villages in Lamoille County, and Morrisville is a designated downtown. A map of the area designated as part of the new official Cambridge Village can be found at the website www.lcpcvt.org under the Cambridge tab.