Town Considers Infrastructure Agreement With Summit Development

The Town of Middlebury Selectboard is considering approval of an updated Housing Infrastructure Agreement with Summit Development for the Stonecrop Meadows project. The proposal would commit up to $2,100,000.00 in municipal tax increment over up to 20 years to support housing-related infrastructure, contingent on a third-party fiscal impact analysis and CHIP application approval.

Scope & details

The full contract record, as filed.

Contract amount

Town incremental tax financial commitment not exceeding $2,100,000.00

Contract type

OTHER

Contract term

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

Renewal date

2046-12-31

Renewal

Agreement tied to a project-specific TIF district, with tax increment dedicated for up to 20 years or until infrastructure project debt is retired. Third-party fiscal impact analysis required prior to final commitment.

Document type

Agenda

Source document

Town of Middlebury Selectboard Meeting Agenda 2026-08-11

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Town of Middlebury?

Summit Development was awarded this government contract by Town of Middlebury, as recorded on August 11, 2026. The contract value is Town incremental tax financial commitment not exceeding $2,100,000.00.

How much is the Summit Development contract with Town of Middlebury worth?

The Summit Development contract with Town of Middlebury is valued at Town incremental tax financial commitment not exceeding $2,100,000.00.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Town of Middlebury Selectboard Meeting Agenda 2026-08-11 (Agenda), dated August 11, 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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