FOR IMMEDIATE RELEASE 
March 9, 2021 
Contact: Olivia LaVecchia 
(802) 734-0617 

Mayor Miro Weinberger Announces Progress on All Five Housing Policy Reforms from 2019 Housing Summit 

City Council moves toward adoption of “rental weatherization” ordinance change 

Burlington, VT – Today, Mayor Miro Weinberger announced that the City has made significant progress on a slate of five housing policy reforms that the Administration presented to the City Council for action in October 2019, following the Mayor’s two well-attended Housing Summits earlier that year. These five policies were all designed to make housing in Burlington more available and affordable. Currently, three of the five proposals have been approved, and at its meeting on Monday, March 8, the City Council unanimously voted to decide on the adoption of the fourth proposal at its upcoming March 22 meeting. The fifth proposal is at an advanced stage of committee discussion. 

“To solve the housing crisis we face as a community, we need to build a lot more homes,” said Mayor Weinberger. “Over the last nine years more than 1,300 homes for households of all income levels have been built in Burlington, and in 2019 we launched five critical policy reforms to ensure that this progress continues. Now, after two years of hard work, these policies are nearly all in place, and they are starting to have an impact on the housing challenges that so many Burlingtonians face. I am appreciative of the City team, City Councilors, and Planning Commissioners who have been part of hammering out the details of these proposals, and I look forward to continuing the necessary work ahead to make housing more available and affordable in Burlington.” 

All five of the housing policy proposals are structural reforms that advance a two-part housing strategy: 1) Continuing Burlington’s proud legacy of building as much permanently affordable housing as possible and ensuring protections for tenants; and 2) Simultaneously pursuing policies and proactive efforts to create more homes for households of all backgrounds in order to increase the vacancy rate in Burlington. 

Background and Status of Five “Housing Summit” Policy Reforms 

The five reforms represent key areas of unfinished business from the City’s 2015 Housing Action Plan, and Mayor Weinberger announced in his State of the City address in April 2019 a plan to bring focus, urgency, and resolution to all five areas. Following from that address, the City hosted the BTV Housing Summit in June 2019 and a second public meeting on housing policy reform in September 2019, and in October 2019, the City Council unanimously approved a resolution that referred each of the proposals to several of its committees and the Planning Commission. 

What follows is a summary of each of the five proposals and its current status: 

Accessory Dwelling Units: 

• About: This policy change is designed to make it easier for people to create Accessory Dwelling Units (ADUs), which offer more flexibility for families to age in place, offset housing costs for homeowners, and create additional neighborhood-scale housing options throughout the City. Public process around this policy change included four meetings of the Joint Committee, a work session of the City Council, and a public hearing at the City Council. 
• Status: This policy change was unanimously adopted by the City Council in February 2020, and the City approved zoning permits for six new ADUs in calendar year 2020. 

Housing Trust Fund 

• About: This policy change restores and increases the level of dedicated funding to Burlington’s Housing Trust Fund, which support the creation and preservation of permanently affordable housing. The City Council voted 10-2 in January 2020 to send this proposal to voters on the Town Meeting Day ballot, and 69 percent of voters approved this change to the City Charter in March 2020. 
• Status: The City delayed implementing this increase in Fiscal Year 2021 in recognition of the financial impact that Covid-19 has had on many residents, but plans to implement this increase in Fiscal Year 2022. The annual funding to the Housing Trust Fund is projected to increase from $200,384 to $494,775. 

Parking minimums 

• About: This policy change reforms the City’s requirements for building new parking in residential developments in the downtown and along key transportation corridors, in order to reduce a major cost driver of housing, give people more choices when it comes to the cost of car ownership, and take a step toward aligning the City’s land use policies with its climate goals. Public process around this policy change included a number of meetings of the Joint Committee and a work session of the City Council. 
• Status: This policy change was unanimously adopted by the City Council in September 2020. In the few months since this change was implemented, two significant projects have applied for permits to create housing that would benefit from this policy change, for a combined 490 new homes (426 as part of CityPlace Burlington and 64 as part of a proposed senior housing development), and several others are under consideration. 

Energy efficiency in rental housing 

• About: This policy change updates standards for energy efficiency in rental housing in order to support Burlington’s climate goals and protect renters from unreasonably high utility costs. Public process around this policy change included stakeholder meetings with owners and developers of rental properties, and several meetings of the City Council’s Ordinance Committee that included public comment. 
• Status: At its March 8 meeting, the City Council voted to set this policy change for adoption at its upcoming meeting on March 22. 

Short-term rentals 

• About: This policy change implements new regulations for short-term rentals like Airbnb, in order to reduce impacts on long-term housing availability and neighborhoods, while also balancing the economic benefit for Burlingtonians who are hosts. 
• Status: This policy change is currently under consideration by the Joint Committee of the Planning Commission and the City Council Ordinance Committee. 

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FOR IMMEDIATE RELEASE
February 26, 2021
Contact: Olivia LaVecchia
(802) 734-0617

Moody’s Investors Service Affirms Burlington International Airport’s “Baa2” Credit Rating

Rating action finds that BTV is “well-positioned to address challenges posed by the coronavirus pandemic”

Burlington, VT – This week, Moody’s Investors Service released a rating action that affirms Burlington International Airport’s “Baa2” credit rating with a stable outlook. The rating action is particularly notable as airports around the country are grappling with the impacts of the coronavirus pandemic. In its credit report, Moody’s states that the Burlington International Airport (BTV) is “well-positioned to address challenges posed by the coronavirus pandemic,” and notes that BTV’s core financial metrics are sound, including its stable liquidity and debt service coverage, strengthened cost recovery framework, minimum of 200 days of cash on hand, relatively low debt burden, and manageable planned capital investment program.

“My Administration has worked hard to stabilize the Airport’s finances over the past nine years, and that work has put BTV in a strong position to weather the storm of the coronavirus pandemic,” said Mayor Miro Weinberger. “I’m appreciative that Moody’s Investors Service has recognized this work by affirming BTV’s credit rating. In the months and years ahead, the Burlington International Airport will be more important than ever, as it supports the economic recovery of Burlington and our entire region from this pandemic.”

“I want to thank both the Airport and broader City teams for their daily diligence in making this rating possible,” said Gene Richards, Director of Aviation at BTV. “This achievement has not come easily, but the Airport is stronger and better because of it.”

BTV has maintained its “Baa2” credit rating since receiving an upgrade from Moody’s in May 2018. That upgrade was the second that BTV had earned since 2014, and the “Baa2” rating represents the highest rating since prior to multiple downgrades that the Airport received in 2010 due to revelations of serious financial mismanagement.

For additional information, please see:

• Moody’s ratings table (above)
• Moody’s Rating Report [PDF]
• February 2021: “Mayor Miro Weinberger and Senator Patrick Leahy Announce $14.5 Million Federal Grant for Burlington International Airport”
• September 2018: “Fitch Upgrades Burlington International Airport Credit Rating to ‘BBB’”
• May 2018: “Moody’s Investors Service Upgrades Burlington International Airport Credit Rating to ‘Baa2’”

FOR IMMEDIATE RELEASE 
February 25, 2021 
Contact: Olivia LaVecchia
(802) 734-0617 

Mayor Miro Weinberger Announces Progress in First Three Years of Early Learning Initiative 

Early Learning Initiative’s 2020 Annual Report finds 38 percent increase in high-quality infant and toddler child care spaces in Burlington 

Burlington, VT – In its first three years, the City’s Early Learning Initiative (ELI) has made significant progress in increasing the availability and affordability of child care in Burlington. The City today released the Early Learning Initiative’s 2020 Annual Report, which finds that since ELI began in 2017, the initiative has helped increase the number of high-quality infant and toddler child care spaces in Burlington by 38 percent, funded 57 child care scholarships for families with low incomes over the past two years, and leveraged additional State funding for the local child care market at a ratio of greater than 2:1. Over half of scholarship recipients were single parent households, and 72 percent of families needed child care to get or stay employed. 

“Three years ago, the City launched an innovative initiative designed to make child care more accessible,” said Mayor Miro Weinberger. “We did this because the research is clear that high-quality child care is crucial for the development of our youngest children and the well-being of working families, but it’s also clear that this care is out of reach for too many Burlington children and families. Today, I’m pleased to announce that our ELI 2020 Annual Report shows that this initiative has made great strides in its first years. I’m appreciative of the City team of Brian Lowe and Rebecca Reese for their leadership in this work, to our partners at Let’s Grow Kids, and to the City Council for their support. There is more work to do to make sure that all Burlington children have access to high-quality care, and I’m excited for the City to continue to be part of addressing this great challenge.” 

Progress in First Three Years of Early Learning Initiative 

The City’s Early Learning Initiative has a two-pronged approach to help address the challenges of both availability and affordability of child care in Burlington. One prong of the initiative is the ELI Capacity Grant program to help create new spaces for child care and stabilize existed spaces. The second prong of the initiative is the ELI First Steps Scholarship Program to provide scholarships to families with low incomes that help them afford and access high-quality care. Both programs focus in particular on care for children three years old and younger, where there is historically an acute need in Burlington. 

The ELI Capacity Grant program launched in 2017. Since that time, the program: 

• Awarded $681,624 in grants to Burlington child care providers to directly support a 38 percent increase in high-quality infant and toddler child care spaces in Burlington; 
• Provided funding to create 92 new high-quality spaces, 76 of which are for children zero to three and 15 of which are for children three to five; 
• Provided funding to stabilize 166 existing child care spaces; and 
• Supported the creation of two new, high-quality, and accessible centers in Burlington, one of which is located in the downtown off of St. Paul Street and one of which is located in the Old North End off of Riverside Avenue and in partnership with Head Start. 

Though about 350 children are born in Burlington each year,  research by Let’s Grow Kids, a partner in this City project,  indicates that there were only 201 high-quality child care spots serving Burlington and Burlington-area families in the City prior to the launch of the Early Learning Initiative. The ELI Capacity Grant program was designed to address that problem. 

The ELI First Steps Scholarship Program launched with a pilot in 2019 and an expanded program in 2020. Over this two-year time period, the program: 

• Successfully funded 57 scholarships at 12 area child care providers, 53 percent of which supported single-parent households and 72 percent of which supported families that needed child care to support their return to the workforce; and 
• Increased enrollment to the program by nearly 50 percent in its second year, even amid the Covid-19 pandemic, and pivoted to shift to rolling enrollment instead of an application deadline in order to provide families with greater flexibility given the uncertain times. 

The ELI First Steps Scholarship Program is designed in such a way as to help leverage available State financial assistance to increase the total amount of funding for child care in the Burlington market. As a result of this program design, every scholarship dollar generates more than double that amount in immediate, additional State funding support. To date, a total of approximately $246,000 ELI First Steps Scholarship Program dollars has leveraged an additional $514,000 in CCFAP funding for participating child care centers. The local funding also ensures that tuition is truly affordable for families, limiting any copayments to no more than 5 percent of the family income. 

By layering the ELI program on top of the State’s CCFAP, the City has been able to help create increased revenues for child care programs – which often operate on razor-thin margins – that have generated important benefits for child care providers. Partnering child care programs have shared, for instance, stories of being able to provide needed increases to teacher salaries thanks to the stable funding provided in part by the ELI First Steps Scholarship Program. 

"Affordable, high-quality child care can make a huge difference for a family, and this program is built to make it easier for Burlington families to get that opportunity,” said Brian Lowe, the City’s Chief Innovation Officer. “I am grateful for the Mayor and community providers’ support of the program and excited to see it transition to a new phase under the leadership of CEDO’s Rebecca Reese.” 

 “The success and progress of ELI speaks to the community partnerships we share with Let’s Grow Kids and our child care programs,” said Rebecca Reese. “ELI connects families to care and helps them navigate a disjointed and confusing process. Child care has always been important, but the pandemic has shown a spotlight on the situation, and I hope we can create a system that works for all Burlington and Vermont families. As it has always been, child care will be vital to our economic health, and I hope this program can play a role in our City’s recovery in the coming months and years.”   

Looking Ahead for the Early Learning Initiative 

Looking ahead, the City intends to continue the success of the Early Learning Initiative. The City has implemented several adjustments to the ELI First Steps Scholarship Program to expand access and create a more inclusive program as the Covid-19 pandemic continues. 

These adjustments include: 

• Increasing scholarships so that no families have a copayment through June 30, 2021 and so that centers receive more tuition; 
• Expanding enrollment to families up to and including 80% of Area Median Income (AMI). Previously, families had to be at or below 65% AMI. Expanding to 80% AMI will bring more families into the program and support more Burlington families during these trying economic times. Families with between 66 percent ($59,541 for a family of four) and 80 percent AMI ($73,350 for a family of four) will receive a flat scholarship of $125 per week to be put toward their child care tuition; and 
• Continuing to accept enrollment on a rolling basis. 

Find additional information about enrollment on the City website: www.burlingtonvt.gov/it/earlylearning 

For additional information about the Early Learning Initiative, please see: 

• Early Learning Initiative 2020 Annual Report
• Table 1 (below) 

Table 1. Indicators of Success – First Steps Scholarship Program totals August 2019- January 2021 

*Note that scholarships are paid to programs based on enrollment not attendance during the COVID-19 shut downs, which extended from March into June/July 2020. 

FOR IMMEDIATE RELEASE
February 22, 2021
Contact: Olivia LaVecchia
(802) 734-0617

Mayor Miro Weinberger and CityPlace Developer Negotiate New Commitments to Pay Prevailing Wages and Secure Vermont Building and Construction Trades Council Support for Project

Mayor and Developer of CityPlace negotiate a new commitment to pay Vermont Prevailing Wage for construction workers; Mayor urges City Council to approve settlement at Special Meeting he has called for Tuesday

Burlington, VT – Today, Mayor Miro Weinberger announced that he and the Developer of CityPlace Burlington have negotiated an amendment to the proposed Amended and Restated (A&R) Development Agreement, which secures further benefits for the workers who will construct the project. In response to this amendment, the Vermont Building and Construction Trades Council has announced its support for the proposed settlement agreement and the project. Now, after the City Council voted to table its approval of these agreements, Mayor Weinberger has called a Special Meeting of the City Council for February 23, and he urges the Council to approve the agreements at this meeting.

“In this settlement agreement, the City Council has an opportunity to fix a historic challenge and ensure that a vibrant neighborhood and connected streets will return to the heart of our downtown,” said Mayor Weinberger. “I am appreciative that the Developer came back to the table to negotiate this additional point and agreed to formally codify its intention to pay all of the construction workers on the site prevailing wages, and that the Building and Construction Trades Council has now announced its strong support for the project. I also am appreciative of City Councilors Karen Paul and Brian Pine for their hard work and collaborative efforts over the last few weeks to help the City, Developer, and Trades Council find common ground. This agreement delivers substantial benefits to both Burlington and hundreds of construction workers.”

“CityPlace Burlington represents an enormous opportunity for Vermont construction workers, and the Developer’s commitment to pay prevailing wages guarantees that all workers on the job will be compensated well,” said Tim LaBombard, President of the Vermont Building and Construction Trades Council. “We can’t wait to get to work on this outstanding project.”

“The local partners in this development have excellent records of paying well and keeping their workers safe,” said Dave Farrington, owner of Farrington Construction and an investor in CityPlace Burlington. “Our intention has always been to make sure that is the spirit of this entire project, and we are happy to formally make that commitment.”

“While maintaining management and control over our project, we are delighted to further commit to pay the Prevailing Wage rates to all construction workers at our project and our team looks forward to working with all trades in Burlington to produce an outstanding project that will provide so many wonderful benefits to the City and all its citizens,” said Don Sinex, the managing member of the CityPlace Burlington development team.

Developer commits to pay Vermont Prevailing Wage to all CityPlace construction workers

Over the last week, the Developer of CityPlace Burlington and Mayor Weinberger negotiated additional labor requirements. These additional commitments are now incorporated into the proposed A&R Development Agreement as Exhibit L. [Please see the full A&R Development Agreement as well as a summary of the changes].

With this new amendment, the Developer commits to paying the Vermont Prevailing Wage for construction workers for the Burlington area as published by the State of Vermont. The prevailing wage rate is established to support the hiring of skilled local construction workers and to ensure that workers are paid fairly and in a timely manner. This amendment further contains new detail about how the developer will establish an open, transparent, and fair hiring and bidding process throughout the construction of the project.

The A&R Development Agreement also reaffirms the developer’s commitment to follow the City’s Livable Wage Ordinance, classify employees properly, participate in apprenticeship programs where applicable, and hire workers according to several preferential objectives.

Mayor urges approval of settlement agreement at Special Meeting of the City Council

Mayor Weinberger has called a Special Meeting of the City Council for Tuesday, February 23, so that the City Council can consider approval of the settlement agreement, which includes the A&R Development Agreement.

“I urge the City Council to approve the settlement agreement this week,” said Mayor Weinberger. “Failure to do so would mean that, for the first time since the project construction began in 2017, City actions would be delaying construction on the site.  A vote against the settlement agreement is a vote to risk years of additional delay on a project that the voters want built immediately, and a vote for the settlement agreement is to bring resolution and historic improvement to this part of downtown Burlington.”

If the Burlington City Council fails to approve the settlement agreement, there would be immediate impacts to the project schedule. The developers are seeking a zoning permit from the Development Review Board at its March 3 meeting, and an approved A&R Development Agreement is necessary for the DRB to approve that permit.

Further, if the City Council does not approve the settlement agreement, the only viable alternative will be for the City to continue its lawsuit. Pursuing ongoing litigation would likely require great expense, has the potential for years of further delay, and holds no assurance that the City would secure a better result than it will receive under the proposed settlement.

Background on settlement agreement

The proposed settlement agreement results from mediation between the City and the Developer. During mediation, Mayor Weinberger personally led the City’s negotiations with the Developer, who was represented by  managing member Don Sinex. The Mayor also discussed the negotiations with the City Council before and during talks.

On February 5, 2021, Mayor Weinberger announced a settlement with the Developer of CityPlace Burlington. The settlement secures multiple benefits for the people of Burlington – including guaranteeing the reconnection of the City’s lost streets, recouping lost property taxes, renewing the developer’s commitments to affordable housing and renewable energy, continuing to protect taxpayers from all financial risk, and allowing the developer to advance a transformational project.

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FOR IMMEDIATE RELEASE
February 22, 2021
Contact: Olivia LaVecchia
(802) 734-0617

Mayor Miro Weinberger and Senator Patrick Leahy Announce $14.5 Million Federal Grant for Burlington International Airport

Burlington, VT – Today, Mayor Miro Weinberger and Senator Patrick Leahy announced that the Burlington International Airport (BTV) has received a $14.5 million federal grant to expand the Airport’s terminal building and consolidate the two existing security checkpoints into one, which will significantly improve the Airport’s efficiency and traveler experience.

“A successful local Airport is essential for the economic health of our city and region, and that’s why my Administration has worked hard to steward and improve the Burlington International Airport over the past nine years,” said Mayor Miro Weinberger. “Now, this major federal award will enable us to build on our recent successes and make transformative improvements to the traveling experience at BTV. I’m grateful to Senator Patrick Leahy for his enduring advocacy for Vermont, to our entire federal delegation, and to our talented Airport team for shepherding this vision.”

“This federal investment positions the Burlington Airport for long term growth and is a major win for Vermont travelers,” said Senator Patrick Leahy (D-Vt.). “With the pandemic still ongoing I realize for most Vermonters the idea of boarding a plane seems like something that is still a far way off. Thanks to the leadership of Mayor Weinberger and his team I can say with confidence that when air travelers return to the skies for vacations and business trips, Burlington Airport will be here, much improved and stronger than ever.” As Vice Chairman of the Senate Appropriations Committee, Sen. Leahy worked to ensure the needs of small-hub airports like Burlington were prioritized within Federal Aviation Administration funds. 

The grant comes from the Federal Aviation Administration’s Supplemental Airport Improvement Program, and will cover 90 percent of the cost for engineering, design, and construction. The remaining 10 percent local match will be funded through the Airport’s passenger facility charges.

Construction is anticipated to begin by July 2021 and continue for 12-18 months. At its January 19, 2021 meeting, the Burlington City Council unanimously approved the Airport’s acceptance of the grant if it was awarded, and contracts with Jacobs Engineering Group for design assistance and construction inspection related services, and Engelberth Construction for design and construction services.

Terminal Integration Project Will Deliver Transformative Improvement

This project, which is known as the Terminal Integration Project, will deliver a transformative improvement to the traveling experience at BTV. The project will create a new building to the south of the existing terminal, adding approximately 26,240 square feet of new, finished floor space across two floors, five TSA screening lanes on the first floor, and an expanded queuing area for TSA screening.

This additional space will allow the Airport to address a number of priorities, including:

• Consolidating the two existing security checkpoints into one, which will create greater consistency and efficiency for departing passengers;
• Creating a more direct route between the North and South concourses, which will address longstanding passenger confusion about how to travel between the concourses and improve passenger circulation throughout the terminal building;
• Relieving congestion during peak periods; and
• Providing a framework for additional terminal enhancement projects and expansion in the future, as identified in BTV’s draft Airport Master Plan Update.

“This project is the cornerstone of the Airport’s future,” said Gene Richards, Director of Aviation at the Airport. “The TIP will bring long-term opportunity and continued safety enhancements for both the public and the TSA agents who work hard every day to ensure our nation’s safety. This work would not be possible without Senator Leahy and his team, who continuously support the local economy and traveling public in our region. With this project, we are ensuring BTV’s success for years to come.”

“Today we embark on the next exciting chapter in our Airport’s storied history, one that is a win-win for our city, our community, our traveling public, and the future of our airport for years to come,” said Karen Paul, City Councilor for Ward 6. “Thanks to the strong assistance and enduring support from Senator Leahy and our congressional delegation, the City Council on January 19 unanimously approved the acceptance of the Airport Improvement Grant, a decision that affirms the Council’s support for continued innovation and modernization at BTV. The priorities of this significant $14.5 million improvement are efficiency and ease of use for our passengers that, combined with systems that will lessen fossil fuel use like the visionary work happening at Beta, are keeping BTV at the cutting edge of modern aviation technology. I am proud to be here today to join in this celebration, another milestone, another amazing achievement for our community with a heartfelt thanks to Director of Aviation Gene Richards and the entire Airport leadership.”

Terminal Integration Project Builds on Airport’s Recent Success

This new investment by the federal government will enable the Airport to build on its recent successes. While the Covid-19 pandemic has resulted in impacts across the airline and travel industries, BTV has been well-positioned to weather this period, and prior to the pandemic had experienced years of stabilization and strengthening.

Over the last nine years, the City of Burlington has worked to steward the Airport following revelations in 2010 of serious financial mismanagement. This period has included credit ratings upgrades from both Fitch Ratings and Moody’s Investors Service, a steady increase in passengers and enplanements (prior to the Covid-19 pandemic), close partnership with airlines to add new routes with direct service, growth in operating revenues, new investments like the installation of a 500 kW solar array on the roof of Airport’s parking garage, and many other improvements. Further, in October 2020, the City announced the federal approval of the new BTV Sound Mitigation Program and a partnership with VGS to provide the local match and bring millions of dollars in federal soundproofing funds to the communities around the Airport.

“Burlington International Airport is crucial to the success of our region’s economy,” said Cathy Davis, President of the Lake Champlain Chamber. “The Airport allows our businesses to reach their clients and access new markets, it welcomes visitors who in turn support our local businesses, and it plays an important role in making our region such a great place to live.”

“I want to thank Mayor Weinberger and Senator Leahy for their work to make this project a reality and Gene Richards for his leadership at the airport,” said Kyle Clark, Founder of BETA. “This type of investment to modernize our airport is just what we need for companies like ours to start and grow here in Vermont. With community support, BETA is building electric aircraft with zero operational emissions and BTV is the ideal place for us. Burlington is a national leader as the first in the country to source its electricity from 100 percent renewable energy. We are excited for the future of BTV and what it will mean for our community.”

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FOR IMMEDIATE RELEASE 
February 11, 2021 
Contact: Olivia LaVecchia 
(802) 734-0617 

City of Burlington’s Wastewater Monitoring Program Has Detected Mutations Associated with a Covid-19 Variant

Information serves as an early warning system for Burlington community and an alert to exercise extra caution; Results indicate very limited prevalence of mutations associated with variant to date

Burlington, VT – Late yesterday afternoon, the City of Burlington received test results from its Covid-19 Wastewater Monitoring Program that detected evidence of two Covid-19 mutations that are associated with the B.1.1.7 variant, which was first detected in the United Kingdom. Though this finding will not be definitive until it is confirmed through genomic sequencing, it indicates that the B.1.1.7 variant is likely now present in Burlington at a low level. The B.1.1.7 variant has been found in 34 U.S. states according to the C.D.C., and has not previously been identified in Vermont. 

“As we have anticipated would happen, we now have strong indication that the more transmissible variant of Covid-19 that originated in the U.K. is circulating here in Burlington,” said Mayor Miro Weinberger. “By identifying this early, while there appear to be very low levels of the new variant, we have an opportunity to heighten our vigilance and slow the spread of this more contagious form of the virus in the weeks ahead – which will be critical weeks when many of our most vulnerable community members will receive the vaccine. It is now more important than ever that Burlingtonians practice the public health strategies that have served us so well over the last year.” 

The mutations associated with the variant were located in a sample from the City’s Main Wastewater Treatment Plant, which serves the City’s downtown, Old North End, South End, and parts of the Hill Section. These mutations have not yet been identified in samples from the City’s two other treatment plants, indicating limited spread in the community to date. 

Wastewater monitoring data is best used to indicate the detection or non-detection of the virus and to indicate trends over time, and cannot be used to determine how many people may be sick with Covid-19. However, the volume of the mutations associated with the variant identified at this point is so low as to be close to the level of detection, which also suggests that if the variant is present in the Burlington community it is not yet widespread. Further, the City’s Wastewater Monitoring Program is currently showing a low overall concentration of Covid-19 RNA on a generally stable or downward trend across different parts of the City. 

What this detection means for Burlington residents 

It is estimated that the B.1.1.7 variant spreads 30 to 40 percent more quickly than the strain of Covid-19 that is currently prevalent in the community. If the variant is now present in Burlington, this means that it will be even more important for Burlington residents to be vigilant in implementing all of the tactics that we have learned over the past 11 months. These include: 

• Sharing this news with friends and neighbors so that everyone is aware that this is a period of higher risk, and can make decisions accordingly. 
• Continuing to avoid gathering with other households and following State guidance. 
• Wearing high-quality face coverings that are well-fitted to reduce gaps around the face and have two or more layers. 
• Getting a test for Covid-19 if you have any symptoms, have traveled, or have attended a social gathering. 
• Getting a vaccine for Covid-19 if you are eligible, and reaching out to family and neighbors to make sure that those who are eligible have the information and assistance that they need to register. 

About the City’s Wastewater Monitoring Program 

In August 2020, the City launched its Wastewater Monitoring Program to look for Covid-19 RNA in the wastewater at the City’s three Wastewater Treatment Plants. In mid-January, the City added testing for the B.1.1.7 variant of Covid-19 to this program. 

Wastewater-based epidemiology, or wastewater monitoring of Covid-19, is based on the fact that many people shed the Covid-19 virus in their stool, and that this can be detected five to seven days before clinical testing. Through the program, the City samples the wastewater (or sewage) that is entering its three treatment plants. The City’s project partner and lab partner (GoAigua and GT Molecular, respectively) then analyze this sample to determine the number of gene copies of the virus that are present. 

This program is a collaboration between the City of Burlington, the Vermont Department of Health, GoAigua Inc., and GT Molecular LLC, and it has included participating research partners at Dartmouth Hitchcock Medical Center and the University of Vermont. It is important to note that this program has no impact on the City’s tap water – these readings come from the wastewater that comes into the plant before it is treated, and all sewage is then treated and disinfected to remove bacteria and viruses (including Covid-19). 

For additional information, please see: 

• Information about the City’s Wastewater Monitoring Program 
• Local updates on Covid-19 
• Information about new variants of COVID-19 
• COVID-19 in Vermont and getting tested 
• COVID-19 vaccine in Vermont 

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FOR IMMEDIATE RELEASE
February 8, 2021
Contacts: Olivia LaVecchia, Mayor’s Office, 802.734.0617
Mike Kanarick, Burlington Electric Department, 802.735.7962
Beth Parent, VGS, 802.578.2776
Annie Mackin, University of Vermont Medical Center, 802.847.5909
Nina Axelson, Ever-Green Energy, 612.695.1288

Mayor Miro Weinberger, Burlington Electric Department, VGS, UVM Medical Center, Ever-Green Energy Announce Another Milestone Step Forward for District Energy System

Sign Letter of Intent Agreeing to Phase 3 Plan that Will Determine in 3-6 Months Whether DES Project Advances to Permitting and Construction; Propose Innovative New Structure Providing Community Participation in DES

Burlington, VT – Mayor Miro Weinberger, Burlington Electric Department (BED), VGS, University of Vermont Medical Center (UVMMC), Ever-Green Energy, and the Burlington District Energy System (BURDES) Committee, a group of interested local citizens, today announced another milestone step forward to Phase 3 of an updated district energy system (DES) project.

Phase 3 marks the first time that the City, BED, VGS, and UVMMC have signed a Letter of Intent (LOI), in which they agree to a three- to six-month scope of work that will determine whether the DES project will advance to the final permitting, financing, and construction phases. The Phase 3 work includes identifying financing, refining engineering work, identifying necessary permits and approvals, pursuing regulatory reviews, preparing a thermal energy services agreements for the McNeil Joint Owners and DES customers, and more.

Creating a DES in Burlington would meet the long-held goal of recovering waste heat and additional steam from BED’s McNeil Generating Station, and then using those sources to provide thermal energy to UVMMC via steam pipe. The DES also would be a significant step toward Burlington’s goal to become a Net Zero Energy city, and would bring meaningful climate action to Burlington, including significant energy savings and an impactful reduction in Burlington’s commercial sector natural gas related greenhouse gas emissions. After decades of work toward a DES, the most recent effort with Ever-Green Energy included a just-completed Phase 2 detailed engineering analysis and refined economic modeling that resulted in a proposed innovative new structure providing community participation in DES.

“With today’s announcement, we are closer to creating a district energy system in Burlington, which would be one of the most significant ways we can reduce thermal sector greenhouse gas emissions and make progress in our fight against the global climate emergency,” stated Mayor Weinberger. “I appreciate that, even while tackling the incredible challenges presented by our once-in-a-generation pandemic, we were able to complete the Phase 2 work and now are taking this next milestone step down the path to making Burlington a Net Zero Energy city.”

“Mayor Weinberger and the City team, along with their partners, have shown great determination to get one step closer to making their bold vision of a district energy system in Burlington a reality,” stated Senator Patrick Leahy (D-Vt.) Chairman of the Senate Appropriations Committee, who has strongly supported district energy over the years and worked to include language in federal appropriations bills to fund grant opportunities for biomass-based DES systems. “Battling climate change to protect future generations takes innovative and focused hard work. I’m glad we were able to create funding opportunities for Burlington’s district energy project, one that would benefit the entire community.”

“The updated district energy system proposal announced today simultaneously avoids financial risks for the City and, for the first time, would make this effort a true community project by having an option for Burlington households and businesses to actively participate by choosing to buy some or all of their thermal energy from district energy,” stated Darren Springer, General Manager (GM) of BED. “BED appreciates our continued partnership with VGS, UVMMC, and Ever-Green Energy, and is committed to doing all we can to move district energy forward.”

“This project highlights the power of partnerships and the kind of bold thinking we need in community leaders to advance our shared energy goals,” stated Neale Lunderville, President and CEO of VGS. “As VGS strives to reduce customer greenhouse gas emissions 30 percent by 2030, this work with Burlington is an important part of our plan. District energy is an innovative pathway to fighting climate change, while maintaining affordability for customers, and VGS is proud to be part of the project.”

“The University of Vermont Medical Center is committed to environmental sustainability as part of our mission to serve our patients and community,” stated Stephen Leffler, M.D., President and Chief Operating Officer of UVM Medical Center. “We are experiencing a challenging fiscal environment due to COVID-19, which had created uncertainty about our ability to participate in this project. I appreciate that through the work with BED, VGS, and Ever-Green, as well as our extraordinary facilities and engineering team, we have a district energy proposal focused on balancing emissions reductions with cost-effectiveness, which we know will need to include many more participants sharing in the financial commitments and benefits of bringing this project forward. The UVM Medical Center is pleased to continue to participate as this project advances to Phase 3, and appreciates this partnership.”

PHASE 2 LEADS TO MORE INNOVATIVE DES PROPOSAL

In 2019, BED and VGS re-engaged with Ever-Green Energy, a district energy system operator and advisor for projects around the United States that had conducted DES work for Burlington in the past. After a successful Phase 1 economic feasibility analysis, during which the partners determined that a DES could reduce thermal fossil fuel use at UVMMC by approximately half and be built for less than the prior capital cost estimate, the partners launched Phase 2 in February 2020. Phase 1 also determined that adding downtown buildings would not provide enough additional energy service to be economical. Phase 2 consisted of detailed engineering analysis and refined economic modeling. The Phase 2 results were positive and led to a new structure for a Burlington DES that would not require upfront municipal investment in or City financing of DES, and would not place any ownership, operations, or construction risks on the City. The updated DES from Phase 2 includes: updated pricing; increased renewable thermal energy and greater emissions reductions; and an innovative operating model.

Updated pricing

The cost estimate for the DES remains far less expensive than the prior $40 million estimate, but has increased to approximately 60 percent of the 2018 level. The DES now is projected to cost $24 million, based in part on a request for proposal conducted by Ever-Green to get indicative pricing from contractors. Though more expensive, the project is estimated to provide more than 72 percent of the 2018 estimate for fossil fuel reduction, thereby representing a more cost-effective emissions reduction compared to the initial DES proposal.

Increased renewable thermal energy and greater emissions reductions

The proposed DES design resulting from Phase 2 would produce more renewable thermal energy (143,000 MMBTU per year) than was assumed in Phase 1 (125,000 MMBTU per year) from BED’s McNeil Generating Station, a 50-megawatt, biomass-powered (woodchip burning) plant owned and operated by three joint owners – BED (50 percent), Green Mountain Power (31 percent), and Vermont Public Power Supply Authority (19 percent). Further, the new DES proposal would lead to approximately 25,000 MMBTU in additional efficiency savings, providing nearly 170,000 MMBTU, or more than 9,400 tons of CO2 equivalent, per year in emissions reductions. Such reductions would represent a carbon value of $940,000 annually using the $100 per ton measure that the City currently applies to fleet and heating system purchases. These emissions reductions also would total a more than 11.5 percent reduction in Burlington commercial sector natural gas related greenhouse gas emissions, representing the single biggest step Burlington can take to reduce commercial sector emissions.

Innovative operating model

The new DES operating model includes the following elements:

• Operations/Financing: the Burlington DES would be structured as a not-for-profit entity that Ever-Green Energy would create, finance, own, and operate.
• District Energy Provider: pursuant to a purchase agreement, VGS would contract with Ever-Green for all the Burlington DES energy output, which would include two distinct attributes (similar to renewable electricity): (1) thermal energy; and (2) environmental/renewable attributes, known as DES Renewable Credits.
• Thermal Energy: UVMMC would serve as the host for the thermal energy, while additional institutions and buildings also are considered for the DES; VGS would take ownership of the thermal energy at the delivery point, as well as manage thermal energy billing directly with end use customers.
• DES Renewable Credits: the environmental/renewable attributes associated with the DES renewable credits would be available for purchase by any VGS customer, creating a scenario where UVMMC would not bear the burden of absorbing the DES cost premium compared to current fuel service cost. This model is based on popular electric sector renewable energy programs, such as Green Mountain Power’s Cow Power and community solar (as authorized by State of Vermont net metering laws) projects, as well as the current voluntary renewable natural gas offering by VGS. Even though the physical connection for DES would be hosted at UVMMC, DES renewable credits available for purchase from VGS would unlock a key benefit for the following potential purchasers:
  • UVMMC – could purchase DES renewable credits over a given time period in an amount that works for their environmental and financial goals
  • City of Burlington – could purchase DES renewable credits to reduce greenhouse gas emissions attributable to municipal buildings, thereby providing some amount of annual investment in the DES while achieving important emissions reductions as part of the City’s efforts to become Net Zero Energy
  • Other Burlington businesses, organizations, school, and individual residents – could purchase DES renewable credits through the VGS billing system to help support this critical emissions reduction project
  • VGS – if DES renewable credits available in a given year were not 100 percent subscribed by customers, VGS would provide a critical backstop to utilize the remainder for its system-wide energy portfolio to help meet its renewable energy goals.

PHASE 3 PROCESS BRINGS BURLINGTON ONE STEP CLOSER TO DES

Advancing the district energy work to Phase 3 represents another significant milestone in the exploration of DES. The LOI, along with Attachment A, outlines the work and responsibilities of the partners over the next three to six months. During Phase 3, the partners will:

• Identify financing sources to advance DES to permitting and construction, including seeking any available grant funding assistance;
• Continue to refine engineering and interoperability work with UVMMC to ensure system reliability and full ability to integrate the thermal output with UVMMC’s normal operations;
• Identify all necessary permits and approvals that would be needed to advance DES to construction;
• Engage in consideration of regulatory/rate oversight models;
• Finalize pipe sizing to include consideration of current and/or future DES expansion by including the connection of additional institutions and buildings;
• Identify further incentives and the potential for use of existing incentive structures in support of DES;
• Identify additional anchor customers/participants for the DES renewable credits;
• Seek approval from the McNeil Joint Owners for McNeil’s provision of thermal supply; and
• Develop and present thermal energy supply agreements or rates to all necessary parties at the end of Phase 3 (subject to any required regulatory approvals that have been identified); and
• Petition the Vermont Public Utility Commission to gain approval for VGS to purchase and resell the DES energy and renewable energy credits.

Phase 3 will determine if the DES can proceed to permitting and construction. If the determination is positive and the project were to remain on schedule with no further pandemic-related or other disruptions, construction would commence as early as 2022, with a goal for system operation by 2023.

“This Burlington DES partnership shows what’s possible when multiple sectors work together to improve systems and infrastructure,” stated Michael Ahern, Senior Vice President (SVP) of System Development of Ever-Green Energy. “The utility systems we develop, operate, and manage across the country are known for their efficiency, innovation, and sustainability. We are eager to add Burlington to our portfolio of advanced energy systems, as this project stands out for integrating smart technology, resilient energy system, investment in decarbonization, and creation of a true community asset. We are glad to play our part in leading the implementation and helping the City of Burlington achieve its climate goals.”

“For the last 15 years, a citizens group known as BURDES (BURlington District Energy System) has helped to shape several viable plans for a district energy system,” stated Lisa Marchetti, Harry Atkinson, and Jan Schultz, BURDES Committee members. “The major stumbling blocks to accomplishing this has been the system’s upfront cost and the currently low price for natural gas. This next phase is a great opportunity to further the potential of developing a district energy system for Burlington. This system could, over time, include a great deal of the City. It would have the further advantage of being extremely close to the University of Vermont’s central heating plant, which would be a good match for the initial system proposed for the hospital.”

“For decades, the Burlington Electric Commission has endeavored to reflect the goals of our community in providing safe, reliable, affordable, and environmentally-sound energy,” stated Gabrielle Stebbins, Chair of the Burlington Electric Commission. “Continuing past BED's achievement of 100 percent renewably-sourced electricity towards a Net Zero Energy city across nearly all energy consumption requires creativity, trust, partnerships, and an ongoing ‘plan-do-check-act’ approach. Today's announcement reflects these core tenets of our Queen City community.”

Mayor Weinberger, BED GM Springer, and Ever-Green SVP Ahern will be present for the February 8, 2021 City Council meeting, at which time they will be available for feedback and questions from the Council about the Burlington DES project and/or about the DES update memorandum to the City Council prepared by Mr. Springer and dated February 4, 2021.

For more information, please read the following:

• Letter of Intent (LOI), dated February 7, 2021 (available on BoardDocs)
• Memorandum titled “Update on District Energy” to City Council from BED GM Darren Springer, dated February 4, 2021 (available on BoardDocs)
• For a detailed history of DES in Burlington, Mayor’s Office press release from February 13, 2020

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FOR IMMEDIATE RELEASE
February 5, 2021
Contact: Olivia LaVecchia
(802) 734-0617

Mayor Miro Weinberger Announces Settlement with Developer of CityPlace that Guarantees Reconnection of Lost Streets and Allows Developer to Advance Transformational Project

Settlement will result in the transfer of land for Pine and St. Paul Streets to the City at no cost to taxpayers, create additional security to ensure that new streets will be built at no cost to the taxpayers regardless of progress on development, retain benefits of the original development agreement, and continue to protect taxpayers from all financial risk

Burlington, VT – After months of negotiations, Mayor Miro Weinberger announced today a settlement with the developers of CityPlace Burlington that retains the benefits of the original development agreement, secures millions of dollars in public benefits, and ensures that the project can move forward. The Administration will present the settlement to the City Council for discussion at its February 8, 2021 meeting, and seek approval at the Council’s February 16 meeting.

If approved by the City Council, the agreements would be executed immediately but conditionally, and then placed in escrow before becoming effective in mid-May 2021 once certain conditions have been met. Upon successful completion of that process, the City of Burlington will drop its lawsuit, the land for the reconnection of Pine Street and St. Paul Street will immediately be deeded to the City at no cost to the taxpayers, and the legal relationship between the City and the developer will then be defined by an Amended and Restated Development Agreement.

The developer has been pursuing revised land use permits for the site since last fall with the Burlington Development Review Board. Settlement of the lawsuit will allow the developer to continue through the remainder of the permitting, design, and financing processes towards construction. (The developers of CityPlace Burlington will communicate separately all details about their project plans and timeline).

“With this settlement, the City is holding the developers of CityPlace Burlington accountable for the past while also creating a path for the project to move forward,” said Mayor Weinberger. “This settlement ensures that the City will achieve the long-held and transformational goal of reconnecting our downtown through St. Paul and Pine Streets at no cost to taxpayers. I appreciate the sustained effort that the development team, including the new local partners, put in to reaching this detailed agreement, and I wish them well in their ambitious plans. The developer’s success will mean hundreds of new homes, jobs, and activity in the heart of our city, which will in turn be a success for all of Burlington.”

Settlement Delivers Reconnected Public Streets and Other Public Benefits

A central component of the settlement agreement is that it ensures that St. Paul and Pine Streets will be reconnected through the former mall site. The settlement agreement addresses this in two key ways:

• The developers will transfer to the City, at no cost, the land on which the reconnected St. Paul and Pine Streets will be built, which the developer has appraised at $4.3 million. This land will be transferred to the City as soon as the settlement is completed.
• The City will receive a guaranteed, legally enforceable contract, paid for by the developers, to reconnect the St. Paul and Pine streets at no cost to taxpayers if the developers do not succeed in starting to build the project in approximately two years, or if the developers start but do not continue in keeping with established milestones. The value of this construction contract is estimated at $3.2 million. (Some street finishes would be built later outside of this contract to avoid the need to rip out newly constructed work. If the project does proceed as planned, then the City will reimburse the developer for the streets, including all finishes, from the Waterfront TIF district, which uses increment generated by new revenues from the project – not taxpayers).

In addition, when the project moves forward, the settlement requires the developer to repay $150,000 a year in lost property taxes to the City’s Tax Increment Financing (TIF) district that have resulted from the project’s unanticipated delays. These payments have an estimated value of $300,000-$450,000 depending on when the construction begins.

Settlement Retains the Benefits of Earlier Development Agreement: Developer Can Move Forward With Transformational Project at No Financial Risk to City

The settlement includes an Amended and Restated Development Agreement between the City and the developer, which includes numerous changes but preserves the essential structure and terms of the current agreement.

These key pieces include:                                                 

•  All risks of construction and development will remain the responsibility of the developer, and taxpayers will continue to be fully protected from these risks. This means that the developer will not be reimbursed from the Waterfront TIF District until the components of the project are complete and incremental tax revenue begins. Further, the TIF debt will not be issued in the first place unless the developer provides secure funding to cover all of the City’s borrowing costs until the project is delivered and certain timelines and conditions are met.
• The amended development agreement will renew the developer’s commitments to affordable housing and local employment opportunities. It also renews the developer’s commitments to minimize the use of fossil fuels to the greatest extent practicable, and states that the developer will make a good faith reasonable effort to incorporate into the project a renewable primary heating system sized to meet at least 85 percent of the project’s heating load, including by funding detailed engineering design.
• The original development agreement outlines the terms of the tax increment financing for the project. The settlement includes revisions to these terms for two reasons: 1) the revised, smaller development and schedule is expected to produce approximately $8-10 million of TIF investment instead of the original estimate of approximately $21 million, and 2) State law has been amended to require that debt for the TIF district be issued by June 30, 2022 instead of the prior year.
• As a result, the settlement requires the developer to pay the costs of carrying any debt until the project is built and generating tax increment, and includes a number of provisions if the developer does not meet the conditions for the issuance of TIF debt by June 15, 2022. If the developer completes the street improvements on schedule then it will be entitled to reimbursement from the TIF proceeds, but only after paying certain of the City’s related costs. In the event that there is additional revenue to the TIF district, the agreement would still create the opportunity for additional public infrastructure on the blocks surrounding the site.

Statements of support

“This is truly fantastic news, and of particular note is the assurance that the new downtown street connections will be completed,” said David White, the City’s Director of Planning. “The restoration of the street grid in the heart of the downtown has been a dream of the City for decades. Not only does a street grid significantly improve traffic flow, but it also doubles the opportunity for street-level activation within two blocks of the Marketplace and leading towards the lake.”

“After a long journey, I am confident we have arrived at a place where we can begin anew with real and certain optimism that this start will end with an amazing project that will fulfil many of the community’s needs – in particular, the now-certainty of the reconnected Pine and St Paul Streets, along with downtown housing and retail,” said Karen Paul, City Councilor for Ward 6. “I am deeply appreciative of the vision of the local partners Dave Farrington, Al Senecal, and Scott Ireland in partnering with Devonwood and to Don Sinex for understanding that in Burlington, we take pride in local enterprise. Together, and with the support of our community, this project will serve to enrich and invigorate our downtown for generations to come. As an accountant with years in finance, the settlement forged by the Mayor with the support of the City Council, our legal team, and the developers of the project is a win for the City and our taxpayers. The land transfer, the guaranteed contract to reconnect the streets at no cost to the taxpayers, and the repayment of lost property taxes are all aspects of the settlement that we can all enthusiastically support. I look forward to working with the developers collaboratively and to seeing this project come to fruition.”

“The Burlington Business Association welcomes the news that Mayor Weinberger and the developers of CityPlace have reached an agreement,” said Kelly Devine, Executive Director of the Burlington Business Association. “The project again has a path forward. Almost a year into this pandemic, there is light on the horizon for both this project and Burlington. We need the housing, we need the people, and we need our streets back. We now have hope for new, thriving mixed use blocks in our downtown. Thanks to the Mayor and the CityPlace developers for all their hard work and perseverance. Thank you for putting Burlington’s future first.”

For additional information, please see:

• Amended and Restated Development Agreement [PDF]

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FOR IMMEDIATE RELEASE 
February 3, 2021 
Contact: Olivia LaVecchia 
(802) 734-0617 

CEDO Director Luke McGowan to Join Biden Administration and Begin Position as Senior Advisor on White House Intergovernmental Affairs Team 

Burlington, VT – Today, Mayor Miro Weinberger announced that Luke McGowan, Director of the City’s Community and Economic Development Office (CEDO), will leave the City to join the administration of President Joe Biden. Luke has accepted a position as a senior advisor on the White House Intergovernmental Affairs Team, where he will lead the stimulus and economic recovery efforts with state and local governments. That work will focus on implementing stimulus efforts, identifying new infrastructure projects, and ensuring that the economic recovery supports climate resilience and racial justice. 

“There is no more important work in America today than helping the Biden-Harris administration succeed,” said Mayor Miro Weinberger. “While I am sad to lose Luke as CEDO Director, I am grateful for his service to the City of Burlington and look forward to continuing to work with him in his new role as we rebuild from 2020 at all levels of government.” 

During Luke’s tenure as CEDO Director, he led work on multiple significant achievements, including: 

• Breaking ground to transform the former Moran Plant into the Moran Frame, bringing resolution to this long-abandoned site and restoring public access to this part of the waterfront; 
• Internally reorganizing CEDO to advance community works projects; 
• Securing more than $3.6 million to the City of Burlington from HUD to help protect low-income children and families from lead-based paint and home health hazards; and 
• Responding to the Covid-19 pandemic by  launching the City’s Covid-19 Resource & Recovery Center to deploy relief funds, support people in quarantine, lead a working group of senior care providers, and answer more than 2,000 individual requests for help; helping to create permanent, year-round, and low-barrier temporary housing for people experiencing homelessness at the Champlain Inn; and identify and secure new funding streams, particularly FEMA and LGER grants. 

Katie Kinstedt, who is CEDO’s Assistant Director for Administration and Finance and who has played a leadership role in securing funding for Covid-19 relief, will serve as CEDO’s Interim Director. The search process for the next CEDO Director will begin following Town Meeting Day. 

“I’ve been grateful for the opportunity to serve the City of Burlington and Mayor Weinberger’s administration,” said Luke McGowan. “As I imagine is the case for so many, the past year has been one of the most challenging but meaningful of my time in public service. In light of this challenging year, the call to serve the Biden Administration feels even more urgent, and I look forward to doing everything I can to repair and rebuild at both the local and federal level, and deepen the connections between the two. I’m so proud of the work that the CEDO team does every day, and know that CEDO will continue to do so much to support affordable housing, access to opportunity, public projects, community engagement, and restorative justice in Burlington.” 

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FOR IMMEDIATE RELEASE 
February 2, 2021 
Contact: Olivia LaVecchia 
                (802) 734-0617 

City of Burlington Releases FY20 Fiscal Health Report; Stewardship of City’s Finances Has Locked in More than $21 Million in Savings for Taxpayers Since 2013 

Burlington, VT – The City of Burlington today released its annual Fiscal Health Report for Fiscal Year (FY) 2020, which provides information about the steps the City has taken to improve its financial standing since 2012 and the impacts of those efforts. A major finding of the report is that since 2013, the City has locked in more than $21 million in savings for taxpayers and ratepayers. 

“Our financial health is the foundation of everything else we do as a City,” said Mayor Miro Weinberger. “Through sound financial management we are now spending much less on interest payments and instead making historic investments in our sidewalks, roads, parks, and infrastructure that protects Lake Champlain, and investing in impactful new social programs to address access to early childhood education, homelessness, and the opioid crisis, all while keeping increases in municipal property taxes under the rate of inflation. I’m grateful for the commitment of the City management team and employees, the partnership of the City Council, and above all, the support of Burlington voters on several critical ballot items since 2013 for helping us realize this turnaround in the City’s finances. We know that effective fiscal stewardship requires ongoing vigilance, and I’m pleased that this Fiscal Health Report also includes updates on the latest steps the City is taking to do even better.” 

The report was developed by the City’s Clerk/Treasurer’s Office, and authored by Chief Administrative Officer Katherine Schad and Director of Financial Operations Richard Goodwin. 

“The FY20 Fiscal Health Report shows that over the past year, the City has continued to achieve significant savings as a result of its improved fiscal management and health,” said CAO Schad. “I hope that Burlington residents will find this report to be a useful update on the City’s work to responsibly steward our finances.” 

Between 2010 and 2012, the City's credit rating was downgraded six steps in three separate actions by the ratings firm Moody’s, from a high of Aa3 to a low of Baa3 with a negative outlook. Since that time, the City has taken a number of steps to improve its financial management, and as a result, seen four credit rating upgrades for a total of a six-notch improvement. In July 2019, the City received a two-notch upgrade that fully restored the Aa3 rating it held prior to the downgrades, and it has maintained that rating since.  

The report’s findings include: 

• $21 million in savings: The report analyzes how much it would have cost to service the City’s debt if the City still had its Baa3 negative outlook credit rating, compared to how much debt service costs today with the City’s restored Aa3 credit rating, given that it is less expensive to borrow money with a better credit rating. It finds that for all bonds issued since voters approved the Fiscal Stability Bond in 2013, the City has locked in an estimated $21,203,967 in current dollars of savings over the terms of the bonds – a direct savings for every taxpayer and ratepayer. 
• $8.6 million in rainy day fund: The City’s rainy day fund, formally known as the unassigned fund balance (UAFB) is an important reflection of the City’s financial health. In FY12 the City had a negative UAFB of more than $15 million; today, the report finds, City has a strong balance of $8.6 million in its rainy day fund – a decrease in the fund balance when compared to FY19, but stable with the balance over the last four years, and within the target level established by the City’s Fund Balance Policy. Thanks to these reserves, when the Covid-19 pandemic hit, the City was able to avoid the staff furloughs or layoffs that many other cities experienced, continue to provide the services on which residents rely, and dedicate $1 million to a Covid-19 emergency fund to support Burlingtonians through the pandemic. 
• Recommendations for the future: The report also reviews recommendations for further strengthening of the City’s financial management, and reports on the City’s actions in response to those recommendations. 

The report notes that the City continues to experience reductions in revenues as a result of the ongoing pandemic, and that the City will not pursue tax increases to cover these shortfalls but instead seek State and Federal relief. 

“We remain optimistic about the financial health of the City of Burlington,” the report concludes. “The UAFB remains high and the savings we have achieved as a result of our high credit rating are significant.”  

For additional information, please see: 

• February 2021: “FY20 Fiscal Health Report” [PDF]
• July 2019: “City of Burlington Receives Two-Notch Credit Rating Upgrade from Moody's Investors Services” 
• March 2019: “FY18 Fiscal Health Report” [PDF]
• January 2018: “FY17 Fiscal Health Report” 

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