During a recent government meeting, significant discussions centered around a proposed zoning amendment aimed at addressing Vermont's housing crisis. A former chair of the ordinance committee highlighted the potential transformation of parking lots into thousands of new housing units, emphasizing the urgent need for approximately 36,000 additional units statewide over the next five years.
The speaker underscored the importance of this development not only for Burlington but for the entire region, calling for state support to unlock these opportunities. Key questions were raised regarding the infrastructure needed for the project, including the feasibility of utilizing existing infrastructure along Lakeside Avenue and the potential costs associated with full build-out versus a phased approach.
Concerns were also expressed about funding mechanisms, particularly the viability of a municipal Tax Increment Financing (TIF) district and the need for legislative amendments to support a statewide TIF. The speaker urged city officials to prioritize grant applications for the project, recognizing the challenges in securing funding for underground infrastructure.
The meeting concluded with a commitment from city officials to address these questions in future discussions, highlighting the collaborative effort required to tackle the housing crisis effectively.