Neighbors,

The City Council will meet on May 2, 2016, at 7:30 p.m. in Contois Auditorium. The first item on the deliberative agenda is a presentation from the CAO on the proposed budget for TIF funds for the Burlington Town Center Redevelopment Project. That presentation will be followed by a vote on the Predevelopment Agreement for the Project. The Predevelopment Agreement commits the City to undertaking $21.8 m in public improvements, funded through borrowing within the Waterfront Tax Increment Financing (“TIF”) District. TIF debt is repaid from the new taxes generated by, in this case, the redevelopment of the Project. The issuance of TIF debt must be approved by the Burlington voters. The Predevelopment Agreement also commits the City to changing our zoning ordinance to accommodate height and massing in excess of what our current zoning permits. After this vote, the Council will hear committee reports and a verbal report from the Mayor on general affairs. Finally, the Council is expected to go into executive session to receive an update on collective bargaining.

Public forum is scheduled for 7:30 p.m.

Please contact me with any questions.

Thank you,

Chip Mason
Ward 5 City Councilor
cmason@burlingtonvt.gov
(802) 373 8545 (cell)

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