City Center Designations Renewed
We are pleased to announce that the city’s New Town Center and Neighborhood Development Areas have been renewed for another eight years by the Vermont Downtown Development Board. These areas cover South Burlington City Center, including Market Street, the University Mall, San Remo Drive, and areas north of Williston Road.
Since 2010, South Burlington’s growing downtown has been enrolled in these state designations. Only one of three in Vermont, South Burlington’s New Town Center designation guarantees owners of property within the NTC meaningful savings on State permit fees and reduces other costs of development. NTC status also gives City departments extra resources and flexibility when planning infrastructure to support the City’s growing business community and population, including eligibility for the City’s Tax Increment Finance program, which has and is being used to fund significant community infrastructure and park improvements. The accompanying Neighborhood Development Area extends many tax savings and grant opportunities to private property owners in the New Town Center as well as within its surrounding neighborhoods. Among other benefits, home and business owners in the NDA can receive benefits in permitting fees and process, incentives for affordable housing, and tax credits worth up to 50% of costs when they invest in historical renovations, floodproofing, fire code compliance, or accessibility improvements.
City staff are proud to continue these crucial programs, and look forward to finding more, innovative ways to invest in our growing community. For more information on the New Town Center and Neighborhood Development Area programs, please visit https://accd.vermont.gov or contact South Burlington Planning & Zoning staff.
January 23, 2024