Pursuant to the requirements of 24 V.S.A. §1901(2)(B), notice is hereby given of a public hearing by the Burlington City Council to hear comments concerning a resolution for the City Council to approve the submission of a substantial change request to the Vermont Economic Progress Council (VEPC) relative to the City of Burlington’s approved Tax Increment District Plan and approved Financing Plan for the Burlington Waterfront Tax Increment Financing (TIF) District.
The purpose of the City’s substantial change request to VEPC is to amend and update the above referenced approved Tax Increment District Plan and approved Financing Plan to accurately reflect changes made to scope, budgets, timelines, project descriptions, debt financing, related costs, and other funding assumptions relative to the City’s approved TIF projects within the Waterfront TIF District since these items were originally presented and approved by VEPC as part of the Tax Increment and Financing Plans referenced above.
If approved, the substantial change request will include a letter indicating that the City Council has considered and approved the substantial change, as well as a narrative explanation with supporting documentation fully explaining the reasons for such change and the assumptions used to demonstrate that tax increment will be sufficient to repay bond financing issued for the district’s public improvements.
The public hearing will take place on Monday, May 18, 2026 during the Regular City Council Meeting, which begins at 6:00 PM in Contois Auditorium, Burlington City Hall, 149 Church Street, Burlington, Vermont.
For more information about the above referenced Burlington Waterfront TIF District substantial change request, please contact Gummi Jonsson at gjonsson@burlingtonvt.gov