Tax Increment Financing (TIF)

Welcome to the City of Burlington’s official online resource for Burlington’s two TIF Districts: the Waterfront TIF District and the Downtown TIF District. On this site, you will find information ranging from general educational information such as, “What is TIF?” to specific information such as how local developers can get involved in the future development within the TIF Districts, and how Burlington’s residents can remain informed about Burlington’s TIF Districts.

TIF is not the simplest topic, and there are a variety of myths surrounding TIF.  Here is the main point about TIF that all Burlington taxpayers should know:

The purpose of a TIF District is to stimulate economic development and fund public infrastructure. TIF is designed for the tax increment revenue to fund improvements, not increase taxes. The infrastructure built in the TIF district is intended to help support the growth of the tax base within the district over the life of the district. This allows the City to use this increment to retire any debt associated with the construction of improvements without directly impacting individual taxpayers in the district. If the City does not utilize the tax increment revenue to fund improvements here in Burlington, at the end of the life of the district the City will return the majority of funds back to the State of Vermont to be used elsewhere.

Example of a Successful TIF

Burlington Waterfront TIF:

• Waterfront TIF Grand List 1997 (Before TIF District) = $42,902,900 
• Waterfront TIF Current Grand List = $119,812,100 
• $76,909,200 = Waterfront TIF Incremental Increase

Burlington’s residents have shown consistent support for building infrastructure in concert with new commercial development; on the waterfront, where Burlington’s voters previously approved a TIF District, it resulted in these public improvements:

• Lake Street Reconstruction 
• Urban Reserve Acquisition 
• Lakeview Parking Garage 
• Waterfront Fishing Pier 
• Lake Street Extension 
• Lakeview, Westlake and College Garages

You can download the before and after pictures of the waterfront here.

Welcome to the City of Burlington’s official online resource for Burlington’s new Downtown TIF District. On this site, you will find information ranging from general educational information such as, “What is TIF?” to specific information such as how local developers can get involved in the future development within the TIF District, and how Burlington’s residents can remain informed about Burlington’s Downtown TIF District. 

TIF is not the simplest topic, and there are a variety of myths surrounding TIF. Here are the main points about TIF that all Burlington taxpayers should know:

1. The purpose of a TIF District is to stimulate economic development and fund public infrastructure. The purpose of the Downtown TIF is to promote economic and public infrastructure development in a portion of Burlington’s Designated Downtown.
2. TIF is designed to have the tax increment revenue fund improvements, not increase taxes.
3. Burlington’s Downtown TIF can fund stormwater, utility, streetscape, public parking, and transportation/pedestrian improvements. 
4. The vote on Town Meeting Day in March 2012 will not authorize specific debt – but provides the City with the option of using TIF revenue to repay debt incurred. 
5. Incurring specific debt will require a separate approval by voters or the City Council depending on the type of debt. 

Ballot Language  

As per the City Council's resolution, dated December 5, 2011, the ballot question shall be included on the ballot of the Annual City Meeting to be held on March 6, 2012:

“Shall the City Council be authorized to finance public improvements within the newly established Downtown Tax Increment Financing (TIF) District by pledging the credit of the City in a principal amount not to exceed $10,000,000 and 00/100 (Ten Million) Dollars utilizing new tax increment revenues from within the district for repayment, with the City liable for full repayment of the indebtedness including all financing and related costs associated with such indebtedness regardless of whether the tax increment revenues are sufficient for such full repayment, subject to future approval of each debt obligation by the voters or City Council as required by law?” 

Further Questions, Comments, Concerns:  

 
For more information on these and other issues, please see the frequently asked questions (FAQs)  or contact one of the people listed below. 

• For general questions about Burlington’s Downtown TIF District, please contact CEDO’s Director, Peter Owens, at powens@burlingtonvt.gov or 802-865-7174. 
  
  
• For questions relating to the TIF Application, please contact Burlington’s Assistant Director for Housing & Neighborhood Revitalization, Brian Pine, at bpine@burlingtonvt.gov or 802-865-7232.
  
  
• For general questions about Burlington planning and zoning, please contact Burlington’s Director of Planning and Zoning, David E. White, at dewhite@burlingtonvt.gov or 802-865-7194.
  
  
• For tax issues, please contact Burlington’s Tax Assessor, John Vickery, at jvickery@burlingtonvt.gov or 802-865-7112. 
  
  
• For legal concerns, please contact Richard Haesler at the Burlington City Attorney’s Office, at rhaesler@burlingtonvt.gov or 802-865-7567.