Burlington’s waterfront could see a change.
To the north of Burlington’s Waterfront Park there’s some mostly city-owned land, that might soon be providing 100+ new boat docking spaces, a public park, a parking lot, and other improvements.
The Burlington City Council’s Board of Finance subcommittee voted unanimously last Monday night to send a development agreement to the full council for a June 27th vote.
Included improvements for the marina project are :
- 160 boat docks, with about 60 of them staying open for passing boaters.
- Boat launching facility that could double as event space.
- A floating breakwater.
- A “water taxi” stand.
- Fuel docks.
- A park that is of “equivalent quality” to Waterfront Park.
- A temporary parking plaza.
The new Burlington Marina project would fall under tax increment financing (TIF), a way for government to incentivize development where the private sector might otherwise avoid spending money. A TIF district would draw money from property taxes.
In this case, four parts of the project are eligible for a slice of the $500,000 the city has set aside for TIF projects. The public park and parking lot both could be funded halfway by TIF money. The parking plaza, along with environmental impact assessments and soil testing, are eligible to be paid for completely by the tax increment financing.
More Lake Champlain News:
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- Vermont Fish Biologists Recapture Lake Sturgeon First Caught in 1998