Officials in the City of South Burlington are calling on residents to vote yes on a plan that would establish a Tax Increment Financing (TIF) district in the city.
South Burlington City Council chair Helen Riehle says the plan will give South Burlington its own downtown.
That comes after decades of being seen largely as a suburb of Burlington.
“The development of our own downtown has been the dream of this community dating back to the mid-70s, and on Nov. 8 voters are now going to have the chance to actually see this dream begin to come true,” Riehle said at a news conference Thursday.
The new TIF district would allow the city to keep 75 percent of of new property taxes generated by new development in South Burlington’s Market Street. The money would be used to redevelop Market Street, which connects Hinesburg Road and Dorset Street – the two major north-south passages through South Burlington.
The city would also use the money to create a park with paths and boardwalks in the area, according to a presentation about the plans.
South Burlington resident Ed Steele is against the plan. He says South Burlington doesn’t need the change proponents are trying to create.
“It’s fine the way it is,” Steele said Thursday. “It’s been going on years and years like this. They’ve been talking about this for 30 years but in the meantime they’ve got along just fine. What I think is the main street, or should be the main street of South Burlington, is Dorset Street.”
Steele said Dorset Street meets the city’s needs already, and the new tax revenues from development should go to the state education fund – where the majority of property taxes in Vermont end up – not further development in South Burlington.
“Many opponents feel that it’s morally wrong to take money away from the education funds when there are so many unmet needs in our state for education,” Steele said. “It would help South Burlington, but it’s taking funds away from other parts of the state.”
South Burlington's city council is holding an information session on the ballot item Nov. 7 at 7:15 p.m. in city hall.