City of Burlington Waterfront TIF District - Legal Notice | General Notices | Seven Days | Vermont's Independent Voice

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City of Burlington Waterfront TIF District - Legal Notice 

Published May 1, 2024 at 10:00 a.m.

The City of Burlington issued its Waterfront TIF Note in the principal amount of $18,840,000 on June 21, 2023, to fund public improvements and related costs attributable to projects serving the Burlington Waterfront Tax Increment Financing (TIF) District, as approved by the voters at a special meeting held November 8, 2016. As part of the City's continued efforts to obtain the best terms and lowest cost for the financing of such public improvements, the City intends to refinance such existing indebtedness in May 2024. Such indebtedness is expected to be repaid from TIF increment and, to the extent such increment is insufficient, from the pledge of the credit of the City. The City is in the process of soliciting proposals from qualified financial institutions and expects to sell notes or other evidence of indebtedness to a qualified financial institution on or about May 31, 2024. For further information, contact Ms. Darlene Bayko, 149 Church St., Burlington, VT 05401.

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