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Blog :: 07-2015

Is a 1031 Exchange Right for YOU?

Have you thought about selling your investment property?  Are you concerned about the tax implications?  By using a quick five point analysis you will be able to determine whether a 1031 Exchange is the best choice for you to accomplish your real estate goals.

There are a myriad of benefits to be realized using a 1031 Exchange.  You may be able to achieve better appreciation, maximized depreciation, increased cash-flow, investment diversification, and of course deferral of federal capital gains tax.

Read Patricia Flowers' detailed report to discover if a 1031 Exchange is the best move for you HERE.

Stay tuned to LipVT.com for more details on this story, along with the latest local real estate listings!

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    Solar Panels Unveiled at Burlington International Airport

    Burlington's 81 project solar portfolio has recently expanded with the unveiling of a 2,000-panel array on the roof of the Burlington International Airport parking garage, leased to Burlington Electric for $20,000 annually.  While the system cost $1.5 million to install, the city expects to save $3.5 million throughout the next 30 years.  The array will help ease peak loads of electricity use in summer months that tax electrical grids.

    Burlington is able to produce 100 percent of its electricity from renewable resources thanks to increased solar develpment alongside the biomass McNeil Generating Station, and the Winooski One hydroelectric plant.  The new airport array is a critical step in helping the city achieve its renewable resources goals.

    Read more on this story from Zach Despart at the Burlington Free Press here.

    Visit LipVT.com for updates on this story and others, as well as the latest real estate listings.

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      UVM Medical Center Faces Development Delays

      The University of Vermont Medical Center hoped to commence construction on a new seven-story patient tower earlier this spring, but will likely be unable to begin until late next year or early 2017.  In response to the $187,000,000 project, the Green Mountain Care Board has imposed restrictions in order to mitigate the high financial risk, and avoid passing along unmet fundraising to patient fees.

      The board remains in support of converting double-occupancy rooms to the industry standard single-occupancy rooms, but is leery of the narrow margin for financial error.  UVM Medical Center officials continue to promise that the project will not cause insurance rates or patient charges to increase, and will not lead to downsized staffing or decreased quality of patient care.  The hospital has commended the board for keeping an eye on the financial viability of the project, and plans to take the appropriate steps to move forward in the coming weeks.

      Read the full story by Nancy Remsen here.

      Stay tuned to LipVT.com for more updates on this story and more, as well as the latest real estate listings!

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        Free Wi-Fi Makes Debut on Church Street

        The Church Street Marketplace will now offer free Wi-Fi connectivity for customers along the four block thoroughfare.  In an effort to innovate and remain competative with suburban and online retailers, eight antennae were installed along Church Street.  Users can connect to the new network, "ChurchStreetWifi," following instructions on green signs affixed to street lamps.

        The total cost of bringing free Wi-Fi to Church Street was $50,000, half of which was donated by newly opened retailer L.L. Bean.  All remaining funds were raised through private contribution, allowing a successful project without the need to use taxpayer dollars.

        Read Zach Despart's full coverage of this developing story here.

        Stayed tuned to LipVT.com for more updates on this story and others, as well as the latest real estate listings in Burlington.

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          City Market Expansion to South End

          City Market has officially announced plans to open a second storefront on the southeast corner of Briggs Street and Flynn Avenue in Burlington’s South End.  The project, scheduled for completion in spring 2017, will include a 21,000 retail space on the first floor with additional office, community meeting, and teaching space on the second floor.  Plans also outline approximately 100 customer parking spaces alongside covered bicycle parking and pedestrian friendly access.

          Burlington Mayor Miro Weinberger shared his support of the expansion plans.  “City Market’s growth will only mean a larger sphere of community support.  The City looks forward to a continued partnership with the Co-op as they work to build a second store in the South End.”  More detail on the greater PlanBtv South End project, of which this expansion is a part, can be found in our June 22, 2015 blog post here.

          Upon completion of the due diligence work, the Co-op will offer the public with many opportunities to provide input on the project plans.  Residents will be clearly notified of the variety of mediums for interaction as they take place throughout the coming year.

          Read the full plan on City Market’s website here.

          For updates on this story and more, and for the latest real estate listings, stay tuned to LipVT.com.

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