WOODSTOCK, Vt. (AP) - A Vermont town is offering to help startup businesses with two months’ rent.
The Valley News reports the Woodstock Economic Develop Commission is looking to fill vacant storefronts.
The commission’s fund would give potential tenants a grant of $2.50 per square foot for the first month’s rent and another $2.50 per square foot after the business has remained in the space for six months.
The grant is supported by funds generated from a local tax on rooms, meals and alcohol sales.
Commercial space rental rates in Woodstock range from $25 to $40 per square foot.
Through the fund, a tenant with a 1,000-square-foot space and $25,000 annual rent could save $5,000 off the first year’s rent.
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Information from: Lebanon Valley News, http://www.vnews.com
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