Gov. Peter Shumlin is heading to Winooski to make an announcement about special municipal tax districts.
Tax increment financing districts have been used by several Vermont communities – including Winooski – in recent years to raise money for downtown redevelopment projects, and then pay off the financing with taxes raised from the new developments.
But the complex financing mechanism has not always worked without a hitch.
Last year, then state Auditor Tom Salmon found that Winooski had not followed some state laws related to the districts and had underpaid the statewide education fund by about $1.5 million.
Shumlin’s announcement is to come Wednesday at the Champlain Mill in Winooski.