HomeMy WebLinkAboutR - 2024-09- Rental Registry Special Revenue Funds 2024-09
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south Burlington
VERMONT
A RESOLUTION ESTABLISHING A RENTAL REGISTRY SPECIAL REVENUE FUND
IN THE CITY OF SOUTH BURLINGTON
February 20, 2024
WHEREAS, Section 4(a) of the South Burlington Residential Rental Registry Ordinance outlines that
upon initial registration and by April 1st of each year, registrants shall pay the City a registration fee
for each Rental Unit, in the amounts adopted by Resolution of the City Council, and
WHEREAS, it is the intention of the South Burlington City Council that the fees collected through
the rental registry program will be used to fund the entire program including personnel and
operating expenses; and
WHEREAS, it is also the intention of the South Burlington City Council that a specific portion of the
per unit registration fee be held and utilized exclusively to assist property owners who demonstrate
the need for financial support to pay for upgrades of their registered long-term rental property that
may be required to bring the property into compliance with City Codes and Ordinances ("Financial
Code-Compliance Funds").
NOW THEREFORE, BE IT RESOLVED, that a dedicated special revenue fund ("Fund") be
established to account for all income and expenses associated with the newly authorized residential
rental registration program.
NOW THEREFORE, BE IT FURTHER RESOLVED, that all receipts derived from the newly
authorized residential rental registration program be deposited in the Fund.
NOW THEREFORE, BE IT FURTHER RESOLVED, that the Financial Code-Compliance Funds be
accounted for separately in the Fund and that all other expenses of the residential rental registration
program, including personnel and operating expenses, be paid out of the balance of the Fund.
Approved this 20th day of February, 2024.
SOUTH BURLINGTO CITY COUNCIL
•
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Helen Riehle, Chair Meagh- a
Tim Barritt, Clerk Andrew C alnick
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Larry Kup' ,
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180 MARKET STREET,SOUTH BURLINGTON,VERMONT I(802)846-4107 1 WWW.SOUTHBURLINGTONVT.GOV