Middlebury Weighs CHIP Deal With Summit Development

The Middlebury Selectboard will consider approving an updated Housing Infrastructure Agreement with Summit Development for the Stonecrop Meadows project, leveraging CHIP tax increment financing to fund related infrastructure. The authorization would commit most future municipal and education property tax increment from the site for up to 20 years or until project debt is repaid, pending legal review and state approval.

Scope & details

The full contract record, as filed.

Contract type

CONSTRUCTION

Contract term

Up to 20 years, or until housing infrastructure debt is paid

Renewal

Initial project-specific agreement tied to a CHIP/TIF district, with commitment of 85% of municipal and State Education Fund property tax increment for up to 20 years or until the infrastructure debt is fully repaid.

Document type

Agenda

Source document

Town of Middlebury Selectboard Meeting Agenda 2026-07-28

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by Town of Middlebury?

Summit Development was awarded this construction contract by Town of Middlebury, as recorded on July 28, 2026.

What type of contract is this?

This is a Construction contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Town of Middlebury Selectboard Meeting Agenda 2026-07-28 (Agenda), dated July 28, 2026 from Town of Middlebury. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Summit Development hold?

Summit Development may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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