HomeMy WebLinkAboutAgenda - City Council - 08/27/2012 soli(h
AGENDA
SOUTH BURLINGTON CITY COUNCIL
575 Dorset Street
SOUTH BURLINGTON, VERMONT
Executive Session 5:00 p.m. Monday, Aug. 27, 2012
Consider entering executive session to discuss personnel, contract negotiations and litigation.
Regular Session 6:00 p.m. Monday, Aug. 27, 2012
1. Agenda Review: Additions, deletions or changes in order of agenda items.
2. Consent Agenda:
• ""`Sign Disbursements.
3. ###Public Hearing Regarding City Center Tax Increment Financing District and Possible Approval of
Resolution Authorizing Submission of the Plan to the Vermont Economic Progress Council (Ilona
Blanchard, Project Director). All materials, including the draft TIF District Plan are posted on the
City's website.
4. ### First Public Hearing on City Council's Proposed City Charter Amendment regarding the South
Burlington Community Library. The Warning is posted on the City's website.
5. ###First Public Hearing on City Council's Proposed City Charter Amendment regarding the City
Clerk position. The Warning is posted on the City's website.
6. Report on meeting with Congressional Delegation Staff Regarding Draft Environment Impact
Statement for F-35A(Councilor Greco and City Manager Miller).
7. Comments and questions from the public not related to the agenda.
8. Other Business
• Any items held from the Consent Agenda
• Any items Council may wish to place on a future agenda:
• Other?
9. Consider entering executive session for discussion of personnel matters and litigation and continue
deliberative session on Interim Zoning applications (if needed).
Respectfully Submitted:
Sanford I. Miller
City Manager
*" Attachments Included
### Attachments Sent Separately or Previously or Posted Elsewhere
South Burlington City Council Meeting Participation Guidelines
City Council meetings are the only time we have to discuss and decide on City matters. We want to be as open and
informal as possible;but Council meetings are not town meetings. In an effort to conduct orderly and efficient
meetings,we kindly request your cooperation and compliance with the following guidelines.
1. Please be respectful of each other(Council members,staff,the public).
2. Please raise your hand to be recognized by the Chair. Once recognized please state your name and address.
3. Please address the Chair and not other members of the public,staff,or presenters.
4. Please abide by any time limits that have been set. Time limits will be used to insure everyone is heard and
there is sufficient time for the Council to conduct all the business on the agenda.
5. The Chair will make a reasonable effort to allow everyone to speak once before speakers address the Council a
second time.
6. The Chair may ask that discussion be limited to the Councilors once the public input has been heard.
7. Please do not interrupt when others are speaking.
8. Please do not repeat the points made by others,except to briefly say whether you agree or disagree with others
views.
9. Please use the outside hallway for side conversations. It is difficult to hear speaker remarks when there are
other conversations occurring.
Public Sign- In
Aug. 27, 2012 City Council Meeting
Please Print
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08/23/12 City of South Burlington Accounts Payable Page 1
09:23 am Check Warrant Report # cingalla
Unpaid Invoices For Check Acct 1(GENERAL FUND) From / / To 08/27/12
Purchase Discount Amount Check Check
Vendor Invoice Invoice Description Amount Amount Paid Number Date
ALL ALL CYCLE WASTE INC 2055809 TRASH REMOVAL 225.00 0.00 f--f--
ALL ALL CYCLE WASTE INC 2055693 TRASH REMOVAL 127.03 0.00 . /--/--
AT&T AT&T MOBILITY 623X08152012 PHONES 192.42 0.00 . /--/--
BERGE BERGERON PROTECTIVE CLOTHING L 111358 GARMENT REPAIRS 60.61 0.00 . /--/--
BERGS BERGERON PROTECTIVE CLOTHING L 123212 CARAB 530.90 0.00 . /--/--
BURLFR BURLINGTON FREE PRESS FP3237895 DELIVERY 264.02 0.00 . /--/--
DE LAGS DE LADE LANDEN FINANCIAL SERVI 14696650 COPIER 163.87 0.00 . /--/--
DE LAGS DE LAGS LANDEN FINANCIAL SERVI 14699806 COPIER 196.43 0.00 . /--/--
DEMCO DEMCO INC 4682187 SUPPLIES 565.19 0.00 . /--/--
EXXON EXXON MOBIL 139900208 GASOLINE - CREDIT CARD 48.60 0.00 . /--/--
FINISH FINISH SOLUTIONS 503 PAINT PREPARATION 774.00 0.00 . /--/--
GALLS GALLS, AN ARAMARR COMPANY 512343020 UNIFORM 34.71 0.00 . /--/--
GALLS GALLS, AN ARAMARK COMPANY 512343018 UNIFORMS 120.69 0.00 . /--/--
GALLS GALLS, AN ARAMARE COMPANY 512348139 UNIFORMS 73.50 0.00 . /--/--
GALLS GALLS, AN ARAMARR COMPANY 512351094 UNIFORMS 740.08 0.00 . /--/--
GREEPW GREEN MOUNTAIN POWER CORPORATI 47816AUG12 MILL POND LN PMPNG STAT' 5.67 0.00 . /--/--
GREEPW GREEN MOUNTAIN POWER CORPORATI 006230AUG12 T/L DORSET/SWIFT-SOLAR 7.75 0.00 • /--/--
GREEPW GREEN MOUNTAIN POWER CORPORATI 085931AUG12 T/L WILLISTON/DORSET 330.73 0.00 • /--/--
GREEPW GREEN MOUNTAIN POWER CORPORATI 018619AUG12 T/L DORSET/KENNEDY-SOLAR 359.84 0.00 . /--/--
GREEPW GREEN MOUNTAIN POWER CORPORATI 18393AUG12 T/L U MALL/DORSET-SOLAR 95.90 0.00 . /--/--
GREEPW GREEN MOUNTAIN POWER CORPORATI 22679AUG12 LANDFILL PUMP STATION 574.04 0.00 . /--/--
GREEPW GREEN MOUNTAIN POWER CORPORATI 22396AUG12 AIRPORT PARKWAY 15721.68 0.00 . /--/--
GSM GSM ENTERPRISES, INC. 220801006 PARTS 81.18 0.00 . /--/--
GSM GSM ENTERPRISES, INC. 220801009 OIL CHANGE 71.83 0.00 . /--/--
HANNAFD HANNAFORD CHARGE SALES 7051 BATH TISSUE & WATER 24.76 0.00 . /--/--
INGRAM INGRAM LIBRARY SERVICES 66308940 BOORS 10.02 0.00 . /--/--
INGRAM INGRAM LIBRARY SERVICES 66308941 BOOKS 8.23 0.00 . /--/--
INGRAM INGRAM LIBRARY SERVICES 66306769 BOOKS 53.84 0.00 . /--/--
NY CLEAN NEW YORK CLEANERS 07312012 JULY STATEMENT 833.50 0.00 . /--/--
OFFMAX OFFICE MAX INCORPORATED 351754 TABLE DISPLAY 69.99 0.00 . /--/--
PITNY PITNEY BOWES PURCHASE POWER 071012 REFILL POSTAGE METER 2000.00 0.00 . /--/--
SLACK SLACK CHEMICAL COMPANY INC 253014 LIME 772.50 0.00 . /--/--
SOSDIS SOUTH BURLINGTON SCHOOL DISTRI 1021 POSTAGE FOR LIBRARY 1635.56 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 8189A/JL12 AIRPORT PKWY 59.70 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 8194A/JL12 AIRPORT PKWY 49.76 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 8214A/JL12 WATER 49.76 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 8215A/JL12 WATER 211.62 0.00 /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 4360A/JL12 WILLISTON RD PMPNG STAT' 122.12 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 3712M/AG12 AIRPORT PARKWAY 1279.83 0.00 /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 3713M/AG12 AIRPORT PARKWAY 49.76 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 7721M/JN12 AIRPORT PKWY 3272.24 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 7721JL/Al2 AIRPORT PKWY 1069.20 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 7638M/JN12 4 CENTRAL AVENUE 463.56 0.00 . /--/--
SOTWAT SOUTH BURLINGTON WATER DEPARTM 7638JL/Al2 4 CENTRAL AVENUE 151.47 0.00 . /--/--
STAPL STAPLES BUSINESS ADVANTAGE 8022633421 SUPPLIES 315.64 0.00 . /--/--
STAPLES STAPLES CREDIT PLAN 1R72894001 SHOP SUPPLIES 159.94 0.00 • /--/--
STAPLES STAPLES CREDIT PLAN 2922557001 SUPPLIES 209.92 0.00 . /--/--
STAPLES STAPLES CREDIT PLAN 3114192001 SUPPLIES 111.99 0.00 . /--/--
STATEINDU STATE INDUSTRIAL PRODUCTS 95814463 TOWELS 309.13 0.00 . /--f--
VERGAS VERMONT GAS SYSTEMS INC 168109-7Al2 19 GREGORY DRIVE 41.65 0.00 . /--/--
08/23/12 City of South Burlington Accounts Payable Page 2
09:23 am Check Warrant Report # cingalls
Unpaid Invoices For Check Acct 1(GENERAL FUND) From / / To 08/27/12
Purchase Discount Amount Check Check
Vendor Invoice Invoice Description Amount Amount Paid Number Date
VERGAS VERMONT GAS SYSTEMS INC 168109-7M12 MARCH - APRIL 44.04 0.00 /--/--
VERHUM VERMONT HUMANITIES COUNCIL 622/36103 WOMEN'S LIT 4 SESSIONS 300.00 0.00 . /--/--
VERSOS VERMONT FISH AND WILDLIFE JULY 2012 LICENSES 282.50 0.00 . /--/--
W S W S DARLEY & CO 17020948 TRIPOD 633.00 0.00 . /--/--
W S W S DARLEY & CO 17020395 BRACKET & FLEXMOUNT 200.12 0.00 . /--/--
W S W S DARLEY & CO 17020819 BRACKET & STRAPS 153.91 0.00 . /--/--
W S W S DARLEY & CO 17021061 PRO BAR 208.08 0.00 . /--/--
W S W S DARLEY & CO 17021193 UTILITY STRAPS 350.95 0.00 . /--/--
Report Total 36,873.96 0.00 0.00
SOUTH BURLINGTON CITY COUNCIL
To the Treasurer of CITY OF SOUTH BURLINGTON, We Hereby certify
that there is due to the several persons whose names are
listed hereon the sum against each name and that there
are good and sufficient vouchers supporting the payments
aggregating $ ****36,873.96
Let this be your order for the payments of these amounts. Rosanne Greco
Sandra Dooley
Paul Engels
Helen Riehle
Pam Mackenzie
.t
C
south
REGULAR SESSION
To: Sanford Miller, City Manager
From: Ilona Blanchard, Project Dire 110
Subject: Draft City Center Tax Increment Financing(TIF) District Plan Public Hearing
and Resolution
Date: August 24, 2012
Background: The purpose of the proposed TIF District is to fund public improvements
required to develop a downtown for South Burlington, City Center, a concept
that the City has been investing time and funds into for at least thirty years.
This plan proposes to increase the sustainability, diversity, and value of the
City's tax base.
The City Council is considering a resolution to:
• adopt the draft TIF District Plan,
• create the TIF District,
• certify that should the TIF District be approved, 75% of the state
education incremental tax will be reserved and this will be matched by
an equal percentage of the City municipal tax increment.
Of these, the decisions to 1) set the boundaries related to the TIF District and to
2)pledge to match the state percentage of tax increment are firm commitments
that the City is making.
The TIF District Plan and project list contained within, on the other hand, are
amendable.
The City will need to submit a financing plan for approval at later date related
to expected costs and any borrowing against future TIF District revenues.
A reduction of the number of projects to be undertaken may occur, or
economic conditions may be such that the City determines it is not in the
financial best interest to build any projects. No construction would proceed
until after the TIF District is approved by the Vermont Economic Progress
Council and City funding for such work is approved by the voters.
The Plan contemplates the development of South Burlington's City Center
575 Dorset Street South Burlington, V_I. 05403 tel 802,846,4107 fax 802,846.4101 www.sburl,com
Background, through the construction of environmental,placemaking, and circulation
continued infrastructure. The projects listed in the plan include stormwater control and
quality treatment systems such as stream restoration and wetland mitigation, a
City Center park (Dumont and Tributary 3), a central green and associated
festival streets, the reconstruction of Market Street, the construction of Street A
between Dorset Street and Williston Road, a streetscape on Williston Road, a
parking garage, a I-89 pedestrian/bicycle bridge, a city hall, a library, and a
recreation center.
Together these improvements will provide infrastructure needed to support the
development of multi-story, mixed-use buildings and a vibrant downtown.
Attachments: • TIF District Plan available on www.sburl.com
• Updated tables and maps for inclusion in the Plan
• Resolution for consideration
• Comment received by Staff
Recommendation: Listen to public comments and consider approval of the Resolution
Additional No financial commitment beyond the application fee will occur with the
consideration: submittal of the application to VEPC.
R-2012-16
RESOLUTION
A RESOLUTION ESTABLISHING A TAX INCREMENT FINANCING(TIF)DISTRICT,
REAFFIRMING A FINDING THAT ESTABLISHING THE DISTRICT AND INCURRING
INDEBTEDNESS WILL SERVE THE PUBLIC PURPOSE OF A TIF DISTRICT,ADOPTING
THE PROPOSED TAX INCREMENTING FINANCING DISTRICT SOUTH BURLINGTON,
VERMONT(THE TIF DISTRICT PLAN), PLEDGING 75 PERCENT OF THE INCREMENTAL
TAX REVENUE,AND AUTHORIZING AN APPLICATION TO VEPC
WHEREAS, since 1986 the City of South Burlington has expressed a strong interest in developing City
Center into a mixed-use walkable core for the community; and,
WHEREAS,the City of South Burlington has undertaken significant steps to study and plan for
redevelopment of City Center City including market studies(2009, 2012),concept plans,an
Environmental Assessment(approved 2010), becoming a Vermont designated New Town Center(2010),
holding a City-wide design charrette on City Center(Fall 2011), additional public meetings(2012),and
ongoing consultations with property owners to evaluate the proposed TIF District Plan financial
feasibility and economic benefits; and,
WHEREAS,neither the City of South Burlington nor the development community are able to provide
adequate financing to support the infrastructure required to support compact, mixed-use and walkable
development; and,
WHEREAS,a tax increment financing district and related incurred indebtedness will provide revenues for
improvements that will serve the district and related costs which will stimulate the redevelopment of City
Center;and,
WHEREAS, City Center will provide long term economic vitality to the City of South Burlington,
support transportation mode shifts to more sustainable alternatives,and increase the supply of affordable
housing; and,
WHEREAS,on June 18, 2012,the City Council of South Burlington made the finding that establishing a
South Burlington tax increment financing district and incurring indebtedness will serve the public purpose
of tax increment financing districts,as stated in statute,to provide revenues for improvements that will
serve the district and related costs, and these will stimulate redevelopment of the district,provide for
employment opportunities, improve and broaden the tax base,and enhance the general economic vitality
of the City of South Burlington, Chittenden County and the State of Vermont.
NOW,THEREFORE, BE IT RESOLVED that pursuant to 24 V.S.A. § 1898(a)the City Council hereby
reaffirms the finding that establishing a tax increment financing district and incurring indebtedness will
serve the public purpose of tax increment financing districts,as stated in statute,to provide revenues for
proposed public improvements that that will serve the district and related costs,and these improvements
will stimulate redevelopment of the district,provide for employment opportunities, improve and broaden
the tax base,and enhance the general economic vitality of the City of South Burlington, Chittenden
County and the State of Vermont;
BE IT FURTHER RESOLVED that the City Council of the City of South Burlington hereby creates the
South Burlington Tax Increment Financing District,a district which includes properties along the east
side of Dorset Street from south of San Remo Drive to north of Market Street,residential properties along
Mary Street and properties east to Hinesburg Road and south to Dumont Park with boundaries as shown
R-2012-16
on the map"Proposed Tax Increment Financing District South Burlington,Vermont Boundary"attached
hereto as Exhibit A; and
BE IT FURTHER RESOLVED that the City Council,pursuant to 24 V.S.A. §1892(a) adopts the TIF
District Plan"Proposed Tax Increment Financing District South Burlington,Vermont",which describes
the boundaries of the TIF District and the properties therein as shown in the aforementioned Exhibit A;
BE IT FURTHER RESOLVED that the City Council pledges that a minimum of 75 percent of
the incremental municipal property tax revenue received from properties within the South
Burlington TIF District shall,during the legal life of the district,be allocated solely towards the
retirement of debt incurred pursuant to the approved TIF District Plan in keeping with the
provisions of 24 V.S.A. §1897(a); and
BE IT FURTHER RESOLVED that the City Council authorizes the City Manager to submit the
full application for the South Burlington Tax Increment Financing District to the State of
Vermont Economic Progress Council to consider the TIF District Plan for authorization to utilize
incremental education property tax revenue for the TIF District purposes.
APPROVED this day of ,2012.
SOUTH BURLINGTON CITY COUNCIL
Rosanne Greco, Chair Helen Riehle,Vice Chair
Pam Mackenzie, Clerk Sandra Dooley
Paul Engels
City of South Burlington TIF DISTRICT APPLICATION r -- 1. '
; -
8/24/2012 TABLE 6G I i f f 'a' - 1.A
ALL PARCELS WITHIN TIF DISTRICT
A I B C D I E I F I G H I
Parcel ID i Span tt I Property Owner(s)name(s) 911 Address ! Comments/Clarifications ! Assessed Value Taxable Value home
1 I stead?
2 Number Street Y/N
3 YEAR: 2012 Totals: $36,307,600
$36,307,600
4 0450-00000 600-188-14489 SOUTH BURLINGTON CITY CENTER,LLC 0 MARKET ST $2,440,000 $ 2,440,000 N
0450-00004 600-188-11132 4 MARKET ST Value previously noted with Parent $ 1,259,000
CENTURY PARTNERS LP
5 Parcel
$1,259,000 N
6 0450-00005 600-188-14367 POON TRUST LLC 5 MARKET ST $858,200 $ 858,200 N
7 0450-00010 600-188-15838 SOUTH BURLINGTON SCHOOL DISTRICT 10 MARKET ST $0 $ - N
8 0570-00108 600-188-10018 DORSET STREET INVESTMENT GROUP LLC 108 DORSET ST $2,948,500 $ 2,948,500 N
9 0570-00150 600-188-11818 DORSET SQUARE ASSOCIATES 150 DORSET ST $3,502,400 $ 3,502,400 N
10 0570-00166 600-188-10214 DORSET SQUARE ASSOCIATES 166 DORSET ST $176,000 $ 176,000 N
11 0570-00174 600-188-16672 WOOD RUTH E 174 DORSET ST $250,500 $ 250,500 Y
12 0570-00192 600-188-15325 MALONE DORSET ST PROPERTIES LLC 192 DORSET ST $202,200 $ 202,200 N
13 0570-00196 600-188-15167 MALONE DORSET ST PROPERTIES LLC 196 DORSET ST $188,700 $ 188,700 N
14 0570-00200 600-188-14202 MALONE DORSET ST PROPERTIES LLC 200 DORSET ST $221,000 $ 221,000 N
15 0570-00222 600-188-15168 MALONE DORSET ST PROPERTIES LLC 222 DORSET ST $3,703,100 $ 3,703,100 N
16 0570-00330 600-188-11266 CHURCH OF CHRIST 330 DORSET ST $78,900 $ 78,900 N
17 0570-00340 600-188-16478 WELCH EDGAR A SOLE TRUSTEE 340 DORSET ST $1,084,900 $ 1,084,900 N
18 0570 00344 600-188-11719 DESARNO JANET M&C DAVID,TRUSTEES 344 DORSET ST $274,600 $ 274,600 N
19 0570-00350 600-188-11988 DAWSON DORSET STREET PROPERTIES LLC 350 DORSET ST $582,800 $ 582,800 N
20 0570-00354 600-188-11164 CHAMPLAIN OIL COMPANY INC 45 SAM REMO DR $1,883,100 $ 1,883,100 N
21 0570-00358 600-188-16566 BESAW LLC 358 DORSET ST $423,700 $ 423,700 N
22 0570-00364 600-18814490 DORSET STREET REAL ESTATE HOLDINGS,LLC 360 DORSET ST $200,800 $ 200,800 N
23 0570-00366 600-188-14491 DORSET STREET REAL ESTATE HOLDINGS,LLC 366 DORSET ST 364,366,368 DORSET ST $3,551,900 $ 3,551,900 N
24 0570-00370 600-188-15587 SCHUMACHER ROBERT&BARBARA TRUST 370 DORSET ST $373,800 $ 373,800 N
25 0570-00372 600-188-14477 DORSET COMMUNICATIONS LLC 372 DORSET ST $450,600 $ 450,600 N
26 0860-00061 600-188-12277, FULLER JR JAMES R 61 HINESBURG RD $211,000 $ 211,000 Y
27 0860-00071 600-188-14292 SONRISE PARTNERSHIP LLP 71 HINESBURG RD $204,000 $ 204,000 N
28 0860-00097 600-188-14033 EDMOND CHASTENAY FAMILY TRUST 97 HINESBURG RD $310,200 $ 310,200 Y
29 0860-00111 600-188-14034 CHASTENAY ESTATES INC 111 HINESBURG RD $169,900 $ 169,900 N
30 0860-00113 600-188 13157 CHASTENAY ESTATES INC 113 HINESBURG RD $65,600 $ 65,600 N
31 0860-00135 600-188-14965 PETERS MICHAEL A 135 HINESBURG RD $230,400 $ 230,400 N
City of South Burlington TIF DISTRICT APPLICATION ' '-' T I /„ 'T T r A g,
8/24/2012 TABLE 6G i I:, k J ` _ .1 Ii` �'
ALL PARCELS WITHIN TIF DISTRICT
I A B 1 C I D E F ' G H I
Parcel ID Span# ( Property Owner(s)name(s) 911 Address i Comments/Clarifications � Assessed Value Taxable Value home
1 1 I I I stead?
2 Number Street Y/N
32 1120-00014 600-188-15472 RUSSELL JOHN A&LYNN A 14 MARY ST $224,800 $ 224,800 N
33 1120-00018 600-188-10247 RED BEAR LLC 18 MARY ST $201,500 $ 201,500 N
34 1120-00019 600-188-11009 CAMERLENGO NORBERT P&SUSAN C 19 MARY ST $231,400 $ 231,400 Y
35 1120-00022 600-188-15993 MARY STREET LLC 22 MARY ST $197,700 $ 197,700 N
36 1120-00023 600-188-15473 RUSSELL JOHN A&LYNN A 23 MARY ST $176,200 $ 176,200 N
37 1120-00024 600-188-12581 LAWLER TIMOTHY 24 MARY ST $229,300 $ 229,300 Y
38 1120-00026 600-188-15465 RUSSELL JOHN A&LYNN 26 MARY ST $212,800 $ 212,800 N
39 - 1120-00027 -- 600-188-11251 CHIUJEN-FU&LUCIA 27 MARY ST $213,000 $ 213,000 N
40 1120-00028 600-188-11793 HUDSON DOUGLAS 28 MARY ST $200,400 $ 200,400 Y
41 1120-00031 600-188-12785 HAYES GORDON&TRACY 31 MARY ST $222,100 $ 222,100 Y
42 1120-00033 600-188-11700 THIRTY THREE MARY STREET LLC 33 MARY ST $235,000 $ 235,000 N
43 1490-00002 600-188-10030 ABl INC 2 SAN REMO DR $145,600 $ 145,600 N
44 1490-00006 600-188-10201 AOS REALTY LLC 6 SAN REMO OR $867,100 $ 867,100 N
45 1490-00016 600-188-10671 BOUCHARD SONS GARAGE INC 16 SAN REMO DR $379,000 $ 379,000 N
46 1490-00020 600-188-13150 JB REALTY PARTNERSHIP 20 SAN REMO DR $280,400 $ 280,400 N
47 1490-00023 600-188-12234 FOUR BOYS LLC 23 SAN REMO DR $521,200 $ 521,200 N
48 1490-00024 600-188-16123 TIMBERLAKE ASSOCIATES 24 SAN REMO DR $435,700 $ 435,700 N
49 1490-00027 600-188-16477 WELCH EDGAR A 27 SAN REMO DR NOT SHOWN ON PARCEL MAP $45,700 $ 45,700 N
50 1490-00031 600-188-10991 CAIRNS CHARLES A 31 SAN REMO DR $287,500 $ 287,500 N
51 1490-00032 600-188-16124 TIMBERLAKE ASSOCIATES 32 SAN REMO DR $359,500 5 359,500 N
52 1490-00033 600-188-11718 DAWSON DORSET STREET PROPERTIES LLC 33 SAN REMO DR $16,800 $ 16,800 N
53 1490-00035 600-188-11715 DAWSON DORSET STREET PROPERTIES LLC 35 SAN REMO DR $286,400 $ 286,400 N
54 1490-00036 600-188-13753 TIMBERLAKE ASSOCIATES LLP 36 SAN REMO DR $446,500 $ 446,500 N
55 1490-00040 600-188-14492 SOUTH BURLINGTON REALTY COMPANY,LLC 40 SAN REMO DR $251,100 $ 251,100 N
56 1490-00050 600-188-14493 SOUTH BURLINGTON REALTY COMPANY,LLC 50 SAN REMO DR $373,200 $ 373,200 N
57 1490-00055 600-188-16567 BESAW LLC 55 SAN REMO DR $392,400 $ 392,400 N
58 1490-00060 600-188-14494 SOUTH BURLINGTON REALTY COMPANY,LLC 60 SAN REMO DR $271,800 $ 271,800 N
59 1490 00072 600 188-15023 PC CONSTRUCTION 72 SAN REMO DR 66 68,&72 SAN REMO $857,000 $ 857,000 N
60 1775-00075 600-188-16252 SONRISE PARTNERSHIP LLP 75 VILLAGE GREEN DR $1,900,700 $ 1,900,700 N
61
62 Non-Homestead Sub Total: $34,652,700
63 Homestead Sub Total: $1,654,900
64 All Property Totals $36,307,600
City of South Burlington TIP DISTRICT APPLICATION TIF Plan-Table 2: Cost E.c tlilall:e ReloLcc3 Costs
8/24/2012 TABLE Elf
INFRASTRUCTURE PROJECT COSTS
A I B 1 C 1 D I F I F I G H I I I I k I 1 MI N 101 P 0 I R I S I T
Estimated '
Estimated Estimated Est.Total Project
Infrastructure Project Name Project location year of cO"structlanl Construction Est.Soft Est-Total Project Cost in Year of PROPORTIONALITY:Level 1 PROPORTIONALITY:Level 2 PROPORTIONALITY:Level 3
!Costs(Current Costs Costs(Current
$1 ,
1 Construction I 5) Contingency casts Construction
2 I I Year Percentage I IPe rcen1.rl;r. Alrpllca nt I 8/t he r Municipality TiI I Non TIF TIF Revenue I ,,.,,, Other Revenue
15% I 0% % I $ I % I $ % I $ % I $ % I S I % I $
I
4 ,, 1 To[al5l $50,642,S65I $7,596,385 $14,617,426 572,856,3151 $/2,858,3/5 $7 856,375 $2,000,11. 55 136463 I 520,309,382 I$32,748,6991 ) $36,587,154
Consolidated St rmwater control 5tormw ter Manages n�e t
and quality treatment system Infrastructure Wetland
2017 $2,489,799 5373.470 $858,981 $3,722,250 53,722,250 100% 53.722,250 0% $0 I00% $3722,250 0% 80% $2,977,800 20% 5744,450
including wetland restoration and Mitigation and Stream
5 mitigation Restoration
City Center Park(Dumont& Tributary 3 runs from Dorset
Tributary 3) to north of the Somme
Partnership property,Dumont 2017 $1.185,169 $177,775 $477,031 $1,839,975 $1,839,975 100% $1,839,975 0% $0 80% 51,471,980 30% $551,993 80% $1,473,875 20% $366100
Park is south of the Tlf District
6 adjoining Tributary 3
Central Green Undetermined,at the comer
of Market Street and Street A 2017 $2,001,346 $300,202 5413,695 $2,715,243 $2,715,243 100% 52,715,243 0% $0 $O 0% $0 90% $2,442,204 10% $273039
7
Central Green Associated Streets undetermined:makes up the
two sides of the Central Green 2017 51,890.713 5283,607 $652,296 $7,1326,610 $2,826,616 100% $2,826,616 Oro $0 100% $2,826,616 $0 85% $2,396,101 15% $430,515
not bounded by Street A&
8 Market Street
Market Street Between Dorset Street and
y Hinesburg Road 2017 54,372,174 $655,826 $1,495,000 S6,573,000 $6,523,000 100%. $6,523,000 0% $0 100% $6,523000 90% $4,843,346 10% 5892,435 90% $5,630,565
Parking Garage(400 spaces) Central/west area of the TIP 2017 8.687.625 51,303,144 769,231 512,760 COil 760,000 100"4760,000 0%
12 District $ $2• $]2, $12,]LO,rpp 0% $0 100% $72, $0 75% $9,532,(+98 25% $3,227,302
Ped/bike Bridge Over 89 in the vicinity of 2021 $6,956,522
13 Williston Road $1.043,478 $2,000,000 910,000,000- 510,000,000 100% $100o0000 70% 92,000,000 0% $0 100% $10,000,000 5% $500,000 95% $9,500,000
14 City Hall In the TIC District 2017 54.434,783 5665,217 $1,275,000 $6,375,000 56,375,000 100% $6,375,000 0% $0 100% $6,375,000 0% $0 49% $3,094,753 59% $3,767,497
15 Library In the TIF OlclrPt 2017 $6,205,097 $930,764 $908,253 $8,044,114 58,044114 100% $8,044,114 0% $0 100% $8,044,114 0% $0 50% 53,994,725 56% $4,640,307
16 Recreation Center In the TIF District 2017 $6,175,652 $926,348 $1,777,750 58,1379,750 $8,879,750 100% $8,879,/50 0% $0 100% $8,879,750 0% $0 46% $4,127,899 59% $5,253,073
17 _ :c$0 50 50 $0 $0 So $0 $0 $0.
18 _ $0 50 $0 $0 So So $o 5o So.
19 $0 S0 $0 SO SO $0 $0 $0 S0
20 50 $0 $0 ;$0 $0 $0 $0 $0 $0
21 So So 50 So $0 $0 So $0 So
22 So SO 50 So $0 So So So So
23 $0 50 $0 $0 $0 $0 $0 $0 $0
24 $0 $0 $0 $0 $0 $0 $0 $0 $0
25 $0 SO $0 $0 $0 50 $0 $0 SO
26 '$0 rr $0 $0 SO SO $0 SO SO $0:..
27 So $0 $0 $0 $D $0 $0 $0 $0
28 $0 $0:.
io $0 $0 ,$P $0 So $0
29 1$0 $0 So $0 $0 $0 $o So $0
30 '50 $o $0 $0 $0 So $0 So $0
31 $0 50 So $0 So $0 $0 $0 50
32 So $0 So So 50 $0 $0 50 50
33 $0 $0 50 $0 $0 $0 $0 $0 $0
34 :$0 SO : $0 $0 $0 $0 $0 $0 $0
35 $0 $0 $0 $0 $0 $0 $0 $0 50
36 $0 S0 $0 $0 SD $0 $0 $0 50
37 $0 So So $0 ;>5o $0 -:$0 $0 So
38 $0 $0 $0 $0 $0 $0 SO $0 $0
39 :I$0 $0 50 50 $0 $0 $0 :-. $0 $0
City of South Burlington TIF DISTRICT APPLICATION TIF Plan- Table:4 Projected Til District Revenues
8/24/2012 TABLE 6K
I far ITASTRUCT MTN X U S 1 N F-0 MATIO N
.• , :
.•• t I : .••
t
: - .•
. 1 .
. .•
.• :
Loca-1 I i , .•
•
impact on TIE
Lion I I I Non, I Reports,studies
IProject Name (CW,, % I Project Description i ovvraii Impact on Real Property Developments Reports,studies justifying Explanation of Proportion Other Revenue Sources/Status I
PW, ! !Purpose and justifying project I
I proportion
; Outcome
CO)
i I i ••
! i :
Provide consolidated treatment This will impacts all properties within the district.Each property within City Center Environmental Environmental These improvements are required for 100%build-out. Stormwater Utility funds will be used
Consolidated storrnwater for stormwater run off,restore Directcannot be built with as much density or in new town center form without a Assessment 2010 Assessment 2010 for the public portion.
control and quality
and mitigate wetlands,and E,sento consolidated stormwater system The Environmental Assessment requires these
treatment system t m d wetl d
including CW
restore strea subed improvements to mitigate development on the South Burlington City Center,Peon
srea anan
t d mitig Maj Trust,School District,and Mary Street properties.
restoraion anation or
Develop passive recreational pima This will directly raise new development market values for properties owned by the Concept Plans, htz_altyvww.plannir Although 35%of the park will be outside of the boundary of Impact Fees(has been in Impact Fee
ud Infrastructure to bd value into South Burlington City Center,the Chastenay Estates,Peter mithaek,the Sonrise Comprehensive e.,argkit.yoililt,),,J the TIE District,the pupose and function of the entire park ordinance)/Transportation funding
City Center Park(Dumont surrounding developments by , Apartments,the Central School District,the Pat Malone property,and the north east Plan,Ten Principles inepap n will be to serve the City Center development,mitigate ers/eco otnic related to pathways,not yet applied
&Tributary 3)
PW 65% providing adjacent greenery and Essential impacts of the City Center development,and ensure that for.
section of San Remo Drive.All properties will be within easy walking distance of the for Developing Pevelopinent.htm
natural area(woods and stream)park City Center develops more quickR than it would otherwise.
park.It will also create a direct link between City Center and the Middle School/High Successful Town
infrastructure Major
School complex. Centers
e e —Develop
an urban structured green Will create gathering place to support events and other uses which drive foot traffic Concept Plan 2011, MarS successful 'This green is entirely within the TIE District and will Impact fees(Impact Fee ordinance
lawn park that supports passive and Di'', to adjoining businesses and create downtown vitality without which limited Ten Principles for commercially vibrant enable the district to develop with commercial uses in will need to be updated)
active recreational activities, commercial development would be viable.Will increase viability of Developing new town centers •
addition to residential,and to do so more quickly than
Central Green CW especially programming such as Essential Include a central
retail/commercial development on South Burlington City Center,the School District Successful Town would occur otherwise.
weekly events and yearly festivals. Major programmable public
properties directly,and indirectly support the remaining properties values. Centers
space.
„,- - .
Develop two streets adjoining the Will create gathering place to support events and other uses which drive foot traffic Concept Plan 2011,Central green space, This green is entirely within the TIF District and will Impact Fees(Lily Center street
irect D
central green which can support to adjoining businesses and create downtown vitality without which limited Ten Principles for benefit from adjacentenable the district to develop with commercial uses in network is currently designated in
I estival events.Adjacent hard scape flexible streets which
Central Green Associated commercial developrnent would be viable.Will increase viability of Developing addition to residential,and to do so more quickly than the impact fee ordinance)
may be closed down to CW plays an important role in su no ortine Essential
Streets • '' - retailkommercial development on South Burlington Coy Center,the School District Successful Town support se,,,,.je„n,, would occur otherwise.
festivals and events.
properties directly,and indirectly support the remaining properties values Centers
Major
— ... .
Reconstruct Market Street as a Dir Impacts the Dorset Square,Poon Trust,South Burlington City Center and Chastenay Environmental Environmental The reconstruction of Market Street will provide the Federal Earmarks,Impact Fees(City
ect
high quality downtown Estates properties.As the first street it will establish an urban development pattern Assessment 2010, Assessment 2010 public realm infrastructure in the heart of City Center Center street network is in current
M ket Stt ee CW commercial stied E t l
eet for half of the with a higher quality public realm and demonstrates that the public sector is moving Ten Principles for which is required for mixed use development to impact fee ordinance)
art ssenia
section and a complete street for forward with City Center and i,a place,not just a concept.This Win bolster private Developing OCOEE,
the entire section confidence yinnvesting in the area overall. Successful Town
Major
Centers
Reconstruct White Street at Directly impacts Pat Malone,South Burlington City Center,School District properties. Environmental Environmental The construction of Street A will provide the public realm Impact Fees(City Center street
Williston through Midas Drive as a Direct Will enable additional development on the South Burlington City Center,Poon Trust, Assessment 2010, Assessment 2010 infrastructure in the heart of City Center which is required network is in current impact fee
Street A beween Dorset % complete street and build new streets across Market Street to a School District and Mary Street LLC properties as it will install traffic improvements at Concept Plan White Street and types of multi-modal streets required to mitigate City Center Principles for,Ten to support the development of higher quality mixed-use ordinance)
PIN 66
Street&Williston Road
Essential development.Portions of the street which are outside the
district are the portions required to mitigate impacts of
connect with Dorset Street at growth as required by the Environmental Assessment. Developing
Major City Center in the Environmental Assessment.
Healthy Living Successful Town
. ... ,...
Install a streetscape on Williston Impacts Mary Street LLC and the School District properties directly.Supports Cars to People Improvements to City 1 his street adtacent to say tenter is une of the most ie untrndly and Will need to be designated or
Direct unattractive in the City th best w
and['attend W
.County,yet tid5 d NO
from Hinesburg to Dorset that commercial development on South Budington Realty,Poon Trust,and Dorset Square Study,Concept Center Pfew.Y are. secured
concentration a commuter Italie and hotels Alter a illiston Read
enhance
Williston Road PW s% implements complete stree t p roperties within City Center as it will carry the City Center streetscape identity to to o Plan,Ten experience,few ViSMUS%Mulct attend an event or explore a store in Coy
eniaIIV Center den itity to Marston Road is e ay
Streetscape principles and brings the identity Ess t l Williston Road and create visibility.This connection from surrounding hotels. Principles for opportunities for retail Center Extending the C
and residential warned seniors.The SUMO.,Wai also grow hall the redeop
of City Center to Williston Road businesses,and residences supports commercial development.Studies show people Developing
Major stability and growth. coloMml°Mord.the 1.OM,t.15.Proportion) vel ment
do not walk if the accornodations are uncomfortable or non-ezistant. Successful Town
:j
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City of South Burlington TIF DISTRICT APPLICATION TEL PLAN-Table 3: Projected TIF District Revenues
8/24/2012 TABLE 6N
PROPERTY TAX REVENUE PROJECTION SUMMARY
Annual Annual Annual Total Projected Municipal Total Municpal
Municipal Education Education
Year Estimated Estimated Estimated Non-; Property Tax portion to the and Education
portion to TIF portion to portion to TIF
Municipal 1 Homestead Homestead Increment , Municipal I Revenue to TIF
debt Education Fund debt
Increment Increment Increment Generated General Fund Debt
BASE YEAR: 2013 SPLIT PERCENTAGES: 25% 75% 25% 75%
TOTALS: $15,747,198 $9,730,247 $48,829,269 $74,306,715 $3,936,800 $11,810,399: $14,639,879 $43,919,637' $55,730,036
2014 $0 $0 $0 $0
$0.. $o;._ $0 $0 $0
2015 $0 $0 $0 $0 $0 $0 $0 $0 $0
2016 $0 $0 $0 $0 SO $0 $0 $0 $0
2017 $0 $0 $0 $0 $0 $0 $0 $0 $0
2018 $115,271 $0 $115,271 $230,542 $28,818 $86,453 $28,818 $86,453 $172,906
2019 $180,221 $0 5644,559 $824,780 545,055 $135,166 $161,140 $483,419 $618,585
2020 $219,031 $0 $785,367 - -- $1,004,398 $54,758 - $164,273 -- $196,342 $589,025 $753,299
2021 $376,501 $144,048 $1,208,164 $1,728,714 $94,125 $282,376 $338,053 $1,014,159 $1,296,535
2022 $561,629 $387,359 $1,633,426 $2,582,414 $140,407 $421,222 $505,196 $1,515,589 $1,936 811
2023 $630,314 $395,106 $1,878,958 $2,904,378 $157,579 $472,736 $568,516 $1,705,548 $2,178,283
2024 $641,282 $403,008 $1,916,537 $2,960,827 5160,320 $480,961 $579,886 $1,739,659 $2,220,620
2025 $652,440 $411,068 $1,954,868 $3,018,376 $163,110 $489,330 $591,484 $1,774,452 $2,263,782
2026 $724,050 $542,185 $3,101,079 $4,367,314 $181,013 $543,038 $910,816 $2,732,448 $3,275,486
2027 $864,308 $612,018 $2,537,697 $4,014,023 $216,077 $648,231 $787,429 $2,362,286 $3,010,517
2028 $879,347 $624,258 $2,588,451 $4,092,056 $219,837 $659,510 $803,177 $2,409,532 $3,069,042
2029 $894,647 $636,744 $2,640,220 $4,171,611 $223,662 $670,986 $819,241 $2,457,722 $3,128,708
2030 $966,050 $649,478 $2,898,406 $4,513,934 $241,512 $724,537 $886,971 $2,660,913 $3,385,451
2031 $1,063,922 $662,468 $3,255,313 $4,981,703 $265,981 $797,942 $979,445 $2,938,336 $3,736,277
2032 $1,082,434 $675,717 $3,320,419 $5,078,571 $270,609 $811,826 $999,034 $2,997,102 $3,808,928
2033 $1,101,269 $689,232 $3,386,828 $5,177,328 $275,317 $825,952 $1,019,015 $3,057,045 $3,882,996
2034 $1,165,388 $703,016 $3,621,630 $5,490,035 $291,347 $874,041 $1,081,162 $3,243,485 $4,117,526
2035 $1,188,891 $717,077 $3,706,077 $5,612,045 $297,223 $891,668 $1,105,788 $3,317,365 $4,209,033
2036 $1,209,578 $731,418 $3,780,1.98 $5,721,194 $302,394 $907,183 $1,127,904 $3,383,712 $4,290,896
2037 $1,230,624 $746,047 $3,855,802 $5,832,473 $307,656 $922,968 $1,150,462 $3,451,387 $4,374,355
2038 $0 $0 $0 $0 $0 $0 $0 $0 $0
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City of South Burlington TIF DISTRICT APPLICATION
8/24/2012 TABLE 61
INFRASTRUCTURE COSTS, BY TYPE
Major '
Cost Paid By TIF Cost Paid by Other Revenue
Infrastructure Infrastructure Subcategory(Project) Total Cost
Revenue Sources
Categories
Total Infrastructure Costs,Table 6H $72,856,375 $37,748,609 $58,896,517
Total Infrastructure Costs,this table $72,865,375 $37,656,836 $35,208,539
Environmental $3,722,250 $2,977,800 $744,450
Consolidated Stormwater control and quality $3,722,250 $2,977,800 $744,450
treatment system including streambed and wetland
restoration and mitigation
Placemaking $27,863,083 $13,642,073 $14,221,010
City Center Park(Dumont&Tributary 3) $1,839,975 $1,473,875 $366,100
Central Green $2,715,244 $2,442,205 $273,039
City Hall $6,375,000 $2,600,745 $3,774,255
Library $8,044,114 $3,498,993 $4,545,121
Recreation Center $8,888,750 $3,626,254 $5,262,496
Circulation $41,280,043 $21,036,964 $20,243,079
Central Green associated streets $2,826,616 $2,396,101 $430,515
Market Street $6,523,000 $892,435 $5,630,565
Street A between Dorset Street&Williston Road $5,453,822 $4,623,163 $830,659
Williston Road Streetscape $3,716,604 $1,692,957 $2,023,647
Parking Garage(400 spaces) $12,760,000 $10,932,308 $1,827,692
Ped/Bike Bridge $10,000,000 $500,000 $9,500,000
Other(List) $0 $0 $0
City of South Burlington TIF DISTRICT APPLICATInN
8/24/2012 TABLE 6J
INFRASTRUCTURE COSTS, BY YEAR
Projected
Cost Paid by Other Revenue
Year of Estimated Construction Costs of All Projects Cost Paid By TIF Revenue
Construction Sources
i
Totals from Table 6H I $72,856,375 $37,748,6091 $58,896,517
2012 Totals from this Table $72,845,332 -- $37,656,8361 $35,188,496
2012 $0
2013 $500,000 $0 $500,000
2014 Stormwater/wetland
mitigation,stream bed
restoration,City Center
Park,Central Green,Market
Street,Street A,Central
Green Streets,Williston
Road Streetscape,Parking
Garage,City Hall,Library,
Recreation.
$1,975,358 $0 $1,975,358
2015 City Center Park,Central
Green,Market Street,Street
A,Central Green Streets,
Williston Road Streetscape,
Parking Garage,City Hall,
Library,Recreation.
$4,172,032 $0 $4,172,032
2016 City Center Park,Central
Green,Market Street,Street
A,Central Green Streets,
Williston Road Streetscape,
Parking Garage,City Hall,
Library,Recreation.
$2,375,372 $0 $2,375,372
City of South Burlington TIF DISTRICT APPLICATION
8/24/2012 TABLE6J
INFRASTRUCTURE COSTS, BY YEAR
2017 Stormwater/wetland
mitigation,stream bed
restoration,City Center
Park,Central Green,Market
Street,Street A,Central
Green Streets,Williston
Road Streetscape,Parking
Garage,City Hall,Library,
Recreation,bicycle
pedestrian bridge study.
$43,353,047 $29,372,332 $13,980,715
2018 Stormwater/wetland.
mitigation,stream bed
restoration,City Center
Park,Central Green,Market
Street,Street A,Central
Green Streets,Williston
Road Streetscape,Parking
Garage,City Hall,Library,
Recreation,bicycle
pedestrian bridge study.
$11,269,523 $8,284,504 $2,985,019
2019 Bicycle Pedestrian Bridge $700,000 $700,000
2020 Bicycle Pedestrian Bridge $3,000,000 $3,000,000
2021 Bicycle Pedestrian Bridge $5,500,000 $5,500,000
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
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City of South Burlington TIF Application
8/24/20 2 Table 60
SUMMARY OF ALL REVENUE SOURCES
Annual TIF . Annual TIF Other
Year ' Increment: ' Increment: Grant Information Grant Amount Other Revenue Information Revenue Total Revenue 7
Municipal Education j Amount
Totals: $11,810,399 $43,91937,614,300,000
r5 $9,859,266 $79,889,302
a2012 :Base Year
20XX $100,000 $300,000 USDA/RD Sewer Grant $1,000,000 Water District Fees $300,000 $1,700,000
2013 $0 $0 Impact Fees and Stormwater Utility $994,450 $994,450
2014 $0 $0 Federal Grants $4,800,000 Impact Fees" $257,500 $95,057 500
2015 $0 $0 Impact Fees $265,225 `$265 225
2016 $0 $0 Impact 1
P $273,182 (,,,,, 82_
2017 $86,453 $86,453 Impact Fees
P $281,377 $454,284
2018 $135,166 $483,419 Transportation Grant $300,000 Impact Fees $289,819 S1,208,404
2019 $164,273 $589,025, Impact Fees $298,513 191,051,812
2020 $282,376 $1,014,259 Transportation Grant $300,000 Impact Fees $307,468 $1,904,004
2021 $421,222 $1,515,589 Impact Fees -
p $316,693 $2,253,503
2022 $472,736 $1,705,548 Transportation Grant $8,900,000 Impact Fees $326,193 $11,404,477
2023 $480,961 $1,739,659 Impact Fees $335,979 $2,556,599 P
2024 $489,330 $1,774,452 Impact Fees p $346,058 152,609,840:..
2025 $543,038 $2,732,448 Impact Fees $356,440 193,631,926
2026 $648,231 $2,362,286 Impact Fees $367,133 r
59.3,377,650
2027 $659,510 $2,409,532 Impact Fees $378,147
(($3447189
1,
2028 $670,986 $2,457,722 Impact Fees $389,492 $3,518,,
200
2029 $724,537 $2,660,913
Impact Fees $401,177 $3,786,627,
2030 $797,942 $2,938,336 Impact Fees $413,212 $4,149,489'
2031 $811,826 $2,997,102 Impact Fees $425,608 $4 234 537
2032 $825,952 $3,057,045 Im act Fees
p $438,377 �54,321,373
2033 $874,041 $3,243,485 Impact Fees $451,528 $4,569,054
2034 $891,668 $3,317,365 Impact Fees $465,074 t74,107
2035 $907,183 $3,383,712 Impact Fees $479,026
$4,769,922
2036 $922,968 $3,451,387 Impact Fees $493,397 $4,867,752..
2037 $0 $0 Impact Fees $508,199 $508,199
City of South Burlington TIF APPLICATION
8/24/2012
TABLE 6P
SUMMARY OF ANNUAL DEBT
Expected
Project for Which Debt I Interest Amount Paid
Type of Debt Instrument Debt Principal ; Date Debt Term Payment Period ' I Total Interest . Total Debt Cost
Incurred Rate . Each Period
Incurred
Wastewater Plant Upgrade Municipal Bond $1,000,000 1-Apr-17 5.0000% 20 Years Annual on February 15 $100,000 $500,000 $1,500,000
All Projects Municipal Bond $35,000,000 1-Apr-17 3.1930% 20 i 2x per year,principal 1) $1,750,000 $12,119,887 $47,119,887
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
(Municipality Name) TIF APPLICATION
8/24/2012 TABLE 6Q
CASH FLOW
A B 1 c D
Total Revenue(from all
Year sources) Total TIF Debt Service Surplus( )
1 i
2 2012 :Base Year
3 2013 $994,450 $0 $994,450
4 2014 $5,057,500 $0 $5,057,500
5 2015 $265,225 $0 $265,225
6 2016 $273,182 $0 $273,182
7 2017 $454,284 $932,948
8 2018 $1,208,404 $2,989,256
9 2019 $1,051,812 $2,961,507
10 2020 $1,904,004 $2,930,743
11 2021 $2,253,503 $2,896,964
12 2022 $11,404,477 $2,859,895 $8,544,582
13 2023 $2,556,599 $2,818,708
14 2024 $2,609,840 $2,772,849
15 2025 $3,631,926 $2,722,315 $909,611
16 2026 $3,377,650 $2,667,116 $710,534
17 2027 $3,447,189 $2,607,763 $839,426
18 2028 $3,518,200 $2,545,779 $972,421
19 2029 $3,786,627 $2,482,176 $1,304,451
20 2030 $4,149,489 $2,416,956 $1,732,533
21 2031 $4,234,537 $2,350,117 $1,884,420
22 2032 $4,321,373 $2,281,723 $2,039,650
23 2033 $4,569,054 $2,211,960 $2,357,094
24 2034 $4,674,107 $2,140,955 $2,533,152
25 2035 $4,769,922 $2,068,708 $2,701,214
26 2036 $4,867,752 $1,995,216 $2,872,536
27 2037 $508,199 $1,920,501
28 2038 $0
29 2039 $0
30 2040 $0
31 2041 $0
32 2042 $0
33 2043 $0
q1I
1
•
159 Village Green Dr. Apt. 8
So. Burlington, VT. 05403
August 3, 2012
Ms. Ilona Blanchard
City Manager's Office
575 Dorset St.
So. Burlington, VT. 05403
Dear Ilona:
i will probably be out of town at the time of the public hearing on the Tax
Increment Financing District.
My family owns Village Green Apartments and one single-family house on
Hinesburg Road. We are in the proposed TIF District, which is fine with us. Our plans
for the next few years are to continue with the present buildings. Several years from
now, we may build some high-density residential uses, either by adding a building or by
replacing some buildings. My brother Steve wrote you about this on July 13.
Thank you for your efforts in coordinating the TIF plans with the private sector.
I look forward to attending some future meetings and hearings.
Sincerely,
Karen Unsworth
for Sonrise Partnership
TIF