The Burlington City Council gave its blessing Monday night to a multimillion-dollar plan for redeveloping Burlington’s downtown waterfront. The approval clears the path for the proposal to go before voters on Town Meeting Day.
The redevelopment plan bundles six projects into one and would rely on $7.5 million in tax-increment financing (TIF) to come to fruition. TIF money lets cities and towns allocate future tax revenues from within a defined district for use on public infrastructure projects.
The plan would also draw on other public and private funding sources.
At its cornerstone is a $26 million proposal to convert the Moran Plant into a performance space, rooftop restaurant, “nano-brewery” and “maker space.”
Related Stories
Related Stories
Got something to say?
Send a letter to the editor and we'll publish your feedback in print!
“I’ve searched all the parks in all the cities and found no statues of committees.”
G. K. Chesterton