City of Burlington, VT

BURLINGTON BOARD OF FINANCE

REMOTE MEETING WITH CALL-IN NUMBER

*OR*

CITY HALL, 1^ST FLOOR: SHARON BUSHOR CONF. ROOM

BURLINGTON, VERMONT

MINUTES OF MEETING

August 8, 2022

MEMBERS PRESENT: Karen Paul

Joe Magee

Miro Weinberger

OTHERS PRESENT: Rich Goodwin

Jordan Redell

Cindi Wight

Jon Adams-Kollitz

Laura Wheelock

Lee Perry

Megan Moir

Chapin Spencer

Nic Longo

Larry Lackey

Brian Pine

Sarah Russell

Tom Flanagan

Clare Wool

Nathan Lavery

Joe White

Jesse Beck

Mark Barlow

Sarah E Carpenter

1.0 CALL TO ORDER and AGENDA

Chief Administration Officer Schad called the Board of Finance meeting to order at 5:05 PM.

MOTION by Councilor Magee, SECOND by City Council President Paul, to amend and adopt the agenda as follows:

Add to the consent agenda items 4.01, 4.02, 4.04, 4.05, 4.08, 4.17, 4.20, 4.21, 5.01, 5.02, 5.03, and 5.04.

VOTING: unanimous; motion carries.

2.0 PUBLIC FORUM (VERBAL)

2.01 Verbal Comments

Sharon Bushor asked when item 4.04 (the noise exposure map) will be available to the public. She spoke about item 4.05, asking whether a resident could soundproof their house, move out while that work is being done, and then move back in. She asked about the high school bond, asking whether the State is contributing any significant funding to the project and additionally whether the State has acknowledged its role in the vacating and construction delays of the building itself. She then spoke about the tech center, expressing concern that Burlington is capping its potential by eliminating programs that are culinary, pre-tech, and childcare.

3.0 CONSENT AGENDA

3.01 Motion to adopt the consent agenda and take the actions as indicated.

3.02 Board of Finance Meeting Minutes, July 18, 2022, Draft – approve the minutes.

3.03 Fletcher Free Library Security Guard Contract FY21 – Library - 1. To approve and recommend that the City Council authorize the Chief Administrative Officer, or her designee, to affect all necessary budget amendments and transfers of funds from the above-referenced funding sources as needed to increase the Library’s Operating budget line 6500_103 ( in the amount of $45,000, from $61,000.00, to a new total of $106,000.00, in accordance with the Amended Project Budget (Attachment 1), for the additional projected Security costs for the Library. 2. To approve and recommend that the City Council authorize the Director of the Fletcher Free Library to execute the contract renewal with Chocolate Thunder for up to $106,00.00 to provide security at the Library, all of which is included in the amended project budget and proposed FY23 budget, subject to review and approval of the City Attorney’s Office. **was agenda item 4.01**

3.04 Lease of Space at Miller Center, 130 Gosse Court – BPRW - approve and recommend the leasing of certain identified space in the Miller Community Recreation Center to Frog & Toad Daycare and Learning Center, LLC to utilize childcare space on the terms provided in and substantially in conformance with the attached lease and to authorize Mayor Miro Weinberger to execute the lease and any related documents needed to carry out the lease agreement, subject to the review of the City Attorney’s Office. *was agenda item 4.02**

3.05 Creation of one new position, re-classification/retitling of three positions, reclassification of one position - HR/BPRW - approve and recommend that the City Council approve the creation of the Graphic Designer position, a Part-time, AFSCME, Non-Exempt, Grade 16 position; approve the reclassification and retitling of one Arena Maintenance Worker, a Full time, AFSCME, Non-Exempt, Grade 14 position, to a Working Foreman - Leddy position, a Full-time, AFSCME, Non-Exempt, Grade 16 position; the re-classification of the Park Comprehensive Planner from a Regular, Full-time, Non-union, Exempt, Grade 21 position to a Regular, Fulltime, Non-union, Exempt, Grade 22 position; the retitling and reclassification of an Associate Project Coordinator from a Regular, Full-time, Non-union, Exempt, Grade 17 to the Associate Project Manager, a Regular, Full-time, Non-union, Exempt, Grade 18 position and, the retitling and reclassification of an Associate Project Coordinator from a Regular, Full-time, Non-union, Exempt, Grade 17 to the Project Manager, a Regular, Full-time, Non-union, Exempt, Grade 19 position. ** was agenda item 4.04**

3.06 DPW Reclassification of Senior Planner - HR/DPW - recommend that City Council approve the reclassification of Senior Planner, a Regular, Full-time, Exempt, Non-Union, Grade 21, position to Senior Planner, a Regular, Full-time, Exempt, Non-Union, Grade 22, position in the Department of Public Works. **was agenda item 4.05**

3.07 Creation of two (2) New Department of Public Works Street Maintenance Positions – DPW - recommend that City Council approve the:
creation of two (2) new full time Street Maintenance Worker Positions, a Regular, Full-Time, NonExempt, AFSCME Grade 14 role within the Street Maintenance Division, to support increased maintenance to the Water Resources Division’s water, wastewater, and stormwater infrastructure. **was agenda item 4.08**

3.08 Approval to accept Planning Grant Continuum of Care VT-501 & Permanent Supportive Housing Grant Agreements in FY23 – CEDO - approve and recommend that the City Council approve the acceptance of five U.S. Dept. of Housing and Urban Development Continuum of Care grants (VT0030L1T012112; VT0053L1T012106; VT0021L1T012114; VT0065L1T012105; CoC Planning Grant VT501) to begin in FY23 and authorize the Director of CEDO to execute all documents necessary to accept the total funding of approximately $590,000 from HUD, subject to the review and approval of the City Attorney. **was agenda item 4.16**

3.09 Reclassification of CEDO Assistant Director, Community Justice Center - CEDO/HR - approve and recommend that the City Council approve the reclassification of the Assistant Director, Community Justice Center, a Regular, Full-time, Exempt, Non-union, Grade 21 position to a Regular, Full-time, Exempt, Non-union, Grade 22 position and to authorize the CAO or their designee to execute all necessary budget amendments to the FY23 budget to reflect the reclassification of this position. **was agenda item 4.20**

3.10 Reclassification and Retitling of CEDO Financial & Administrative Coordinator Position - CEDO/HR - approve and recommend that the City Council approve the reclassification and retitling of the Financial and Administrative Coordinator, a Regular Service, Full-Time, Non-Exempt, Union, Grade 15 to Grants & Finance Specialist a Regular Service, Full-Time, Non-Exempt, Union, Grade 16 position and to authorize the CAO or their designee to execute all necessary budget amendments to the FY23 budget to reflect the reclassification of this position. **was agenda item 4.21**

3.11 North Beach Campground Pull Through Contract Documents – BPRW - approve and authorize the execution of a contract with VHB for a price not to exceed $58,465 for the North Beach Campground Pull Through Project, plus a project contingency of $8,770, for a total authorized expenditure in the amount of $67,235, and to authorize Cindi Wight, Director of Parks and Recreation, to execute the contract and any related documents needed to carry out the project, subject to the review of the City Attorney’s Office. **was agenda item 5.01**

3.12 Reclassification of one (1) Clerk/Treasurer position - HR/CT - approve the reclassification of the Grants Associate, a Limited Service, Full-time, NonExempt, Non-Union, Grade 15, position to a Regular, Full-time, Non-Exempt, AFSCME, Grade 15 position in the Clerk/Treasurer’s Office and to authorize the Chief Administrative Officer or her designee to make all necessary adjustments to the FY23 Budget to accommodate this reclassification. **was agenda item 5.02**

3.13 Calendar Year 2022 Crack-Sealing Program - Authorization to Award Construction Contract – DPW - approve and authorize the Director of Public Works to execute a contract and with Sealcoating Inc (doing business as “indus”) for Calendar Year 2022 Crack-Sealing, for up to $54,960.80 with an additional $5,039.20 (~9%) contingency, totaling $60,000.00, subject final review and approval by the City Attorney’s Office. **was agenda item 5.03**

3.14 Request for Approval to Amend Contract for Seasonal Ground Maintenance Services at Water Resources Facilities - DPW - Water Resources - approve and authorize the Director of Public Works to execute a contract amendment with Paragon for Seasonal Ground Maintenance Services for an increase of $12,000, resulting in a revised maximum limiting amount of $60,000, subject to final review and approval by the City Attorney’s Office. **was agenda item 5.04**

MOTION by Councilor Magee, SECOND by City Council President Paul, to adopt the consent agenda and take the actions as indicated for items 3.01-3.14.

VOTING: unanimous; motion carries.

4. FOR APPROVAL AND RECOMMENDATION TO THE CITY COUNCIL

4.01 Fletcher Free Library Security Guard Contract FY21 – **moved to consent agenda**

4.02 Lease of Space at Miller Center, 130 Gosse Court – BPRW - **moved to consent agenda**

4.03 Oakledge Universally Accessible Playground Construction Contract – BPRW -

Parks Coordinator Adams-Kollitz said that the City received a single bid for this contract and has worked to bring down the bid proposal amount from $1.4 million to the $700,000 included in this contract.

MOTION by City Council President Paul, SECOND by Councilor Magee, to approve and recommend that the City Council authorize the execution of a contract with Engineers Construction, Inc. for a price not to exceed $705,438 for the Oakledge Universally Accessible Playground Project, plus a project contingency of $70,544, for a total authorized expenditure in the amount of $775,982 and to authorize Cindi Wight, Director of Parks and Recreation, to execute the contract and any related documents needed to carry out the project, subject to the review of the City Attorney’s Office.

VOTING: unanimous; motion carries.

4.04 Creation of one new position, re-classification/retitling of three positions, reclassification of one position - HR/BPRW - **moved to consent agenda**

4.05 DPW Reclassification of Senior Planner - HR/DPW - **moved to consent agenda**

4.06 Authorization to Execute the Design Contract for the Intervale Road Path – DPW

Senior Engineer Wheelock said that this is to seek a contract for design consulting for the Intervale Road Path. She said that they are experienced designers and the bid proposal was in line with expectations for this scope of work.

MOTION by Councilor Magee, SECOND by City Council President Paul, to 1. To approve and recommend that the City Council authorize the Director of Public Works to execute a contract with Vanasse Hangen Brustlin, Inc. in an amount up to $198,865, and any necessary future amendments using up to $19,886.50 (10%) in available contingency funds, for a total authorized amount of $218,751.50, for the development of the design of the Intervale Road Path project, subject to the review and approval of the City Attorney’s Office.

VOTING: unanimous; motion carries.

4.07 Contract with Cascade Engineering for Purchase of 4,000 Recycling Carts and Proposed Ordinance Change to Require Recycling Carts – DPW -

Councilor Magee asked when the City can expect to see the 4,000 carts. Division Director Perry replied that it depends on availability of material and shipping, and estimated that the order would be delivered in 5-9 months and that there would be outreach and education after that. He anticipated having more information on timelines by the fall.

City Council President Paul noted that demand may be greater than anticipated. She asked about the timing of the second batch of carts. Division Director Perry replied that the second order would be placed once the first is delivered, saying that there is limited storage space to hold many carts at the same time.

MOTION by City Council President Paul, SECOND by Councilor Magee, to approve and recommend that the City Council authorize the Director of the Department of Public Works to enter into a contract with Cascade Engineering for the purchase and delivery of 4,000 various sized covered wheeled recycling carts for the amount of $211,635.00, subject to the review and approval by the City Attorney’s Office.

VOTING: unanimous; motion carries.

4.08 Creation of two (2) New Department of Public Works Street Maintenance Positions – DPW - **moved to consent agenda**

4.09 Distribution and Collection System Improvements - Contract Increase and Consultant Amendment - DPW - Water Resources

MOTION by Councilor Magee, SECOND by City Council President Paul, to 1. To approve and recommend that the City Council authorize Chapin Spencer, the Director of Public Works, to execute an amendment to the previously executed contract with DuBois & King for construction administration and inspection services in order to cover the cost of additional hours needed in 2022 for the Construction Inspection Services for the Distribution and Collection System Improvements project in the amount of $23,000 in retro-approval spending plus an additional $114,061 for a contract amendment amount of $137,061, resulting in a total contract value not to exceed value of $278,739.00, provided that all these authorizations are contingent on the contract and any amendment thereto having the prior approval of the City Attorney and Chief Administrative Officer; and 2. To approve and recommend that the City Council authorize Chapin Spencer, the Director of Public Works, to execute a change order with Granite Inliner to amend the scope of work to include work on Overlake Park for an additional authorized expenditure in the amount $520,000.00, for a total contract value not to exceed $8,001,131.13 [Total amount of current authorized (including contingency) plus change order value], provided that all these authorizations are contingent on the contract and any amendment thereto having the prior approval of the City Attorney and Chief Administrative Officer.

VOTING: unanimous; motion carries.

4.10 Authorization For Up To $1,100,000 Step 1 Loan From Vermont Clean Water State Revolving Fund For Upgrade Planning Of Wastewater Plant Infrastructure - DPW - Water Resources

Mayor Weinberger said that this contract is a milestone in a multi-year effort to properly update the City’s wastewater systems. He said that after significant breakages to the system in 2018, $30 million was committed to make investments for repairs. Division Director Moir added that once initial cost estimate was conducted and the initial phase of the work was completed, additional analysis of system condition and risk were conducted, which indicated that a significantly higher amount of planning and investment are required due to systems continuing to age. They said that this proposal is for a revised path forward.

Councilors Magee and Paul requested that further discussion about this item occur at the City Council meeting on August 15, 2022.

MOTION by City Council President Paul, SECOND by Councilor Magee, to 1. “To approve and recommend that the City Council approve the attached Resolution;” and 2. “To authorize the Director of Public Works to execute a contract with Hoyle Tanner Associates for third party review of the Stage 1 and 2 of the Wastewater Facilities Upgrades and necessary collection system capacity studies for an amount not to exceed $75,000, subject to the review and approval of the City Attorney’s Office.”

VOTING: unanimous; motion carries.

4.11 Request to accept a Federal Aviation Administration Grant to complete an Environmental Assessment and to execute a Contract with Passero Associates to conduct the Environmental Assessment – Airport

Interim Director Longo said that this grant is associated with the Airport’s Master Plan and has to due with obstruction removal around various approaches to the Airport, as well as a small environmental assessment.

Councilor Magee noted that the amount of the contract with Passero exceeds grant funding and asked how the gap would be filled. Interim Director Longo replied that the Federal Aviation Administration covers 90% of the costs of the project. He said that the local match is funded by another federal program (the Passenger Facility Charge).

VOTING: unanimous; motion carries.

4.12 Request to accept a Federal Aviation Administration Grant for Construction of the New Gate 12 Passenger Boarding Bridge Project and Execute Contracts for Construction with Engelberth Construction Incorporated and Inspection Services with Jacobs Engineering Group, Inc. – Airport

Interim Director Longo said that this is from congressionally-directed spending, and is for a passenger jet bridge at the new terminal.

MOTION by Councilor Magee, SECOND by City Council President Paul, to 1. “To approve and recommend that the City Council authorize the Acting Director of Aviation to execute a grant from the Federal Aviation Administration and accept an amount up to $1,945,306.80, with a 15% contingency, totaling up to $2,237,102.82, as allowed under the grant, for the construction supply, installation, construction and construction oversight of the New Gate 12 Passenger Boarding Bridge Project, subject to review and approval of the City Attorney’s Office.” 2. “To approve and recommend that the City Council authorize the Acting Director of Aviation execute contracts with Engelberth Construction Incorporated in a cumulative amount of up to $1,945,915.00, with a 15% contingency, totaling up to $2,237,802.25, as allowed by the grant, for the supply, installation, construction and construction oversight of the New Gate 12 Passenger Boarding Bridge Project, subject to review and approval of the City Attorney’s Office;” and 3. “To approve and recommend that the City Council authorize the Acting Director of Aviation to execute contracts with Jacobs Engineering Group, Inc. in a cumulative amount of up to $77,848.00, with a 15% contingency, totaling $89,525.20, as allowed by the grant, for construction oversight of the New Gate 12 Passenger Boarding Bridge Project, subject to review and approval of the City Attorney’s Office.”

VOTING: unanimous; motion carries.

4.13 Request to accept a Federal Aviation Administration Grant for the Residential sound Insulation Project Phase 1 (P1) Project and Execute Contracts for Construction and Inspection Services for this Project with NENA Construction Incorporated and Jones Payne Group, Inc. (JPG), respectively – Airport

Interim Director Longo said that this is related to the noise program and will continue designing for 54 houses. He additionally noted that every house within a certain range is eligible for sound mitigation without further study.

Mayor Weinberger asked if residents would need to move out while this work is conducted. Interim Director Longo replied that none of this construction will require residents to relocate or move out. He said that they will work closely with homeowners during the construction period.

Councilor Magee asked how the homes were selected for this phase. Director of Engineering Lackey replied that they are starting with the homes impacted by the highest levels of noise.

City Council President Paul asked when homes in communities other than South Burlington (such as Winooski) will be able to participate in this program. Interim Director Longo replied that they will likely be selecting some houses in Winooski next year in the next batch of 50 houses.

MOTION by City Council President Paul, SECOND by Councilor Magee, to 1. “To approve and recommend that the City Council authorize the Acting Director of Aviation to execute a grant from the Federal Aviation Administration accept an amount up to $1,603,855.86, with a 15% contingency, totaling up to $1,844,434.24, as allowed under the grant, for the Residential Sound Insulation Project Phase 1 project scope that includes program management, program development, community outreach, evaluation of structures, design services, bid and award activities, and construction activities for 7 homes, and for the Design and Bid/Award Services for 54 homes, subject to review and approval of the City Attorney’s Office.” 2. “To approve and recommend that the City Council authorize the Acting Director of Aviation execute a contract(s) with NENA Construction Incorporated in an amount of up to $804,236.07, with a 15% contingency, totaling up to $924,871.48, as allowed by the grant, for construction improvements related to sound insulation for 7 homes, subject to review and approval of the City Attorney’s Office;” and 3. “To approve and recommend that the City Council authorize the Acting Director of Aviation to execute a contract with Jones Payne Group, Inc. in an amount of up to $960,326.00, with a 15% contingency, totaling $1,104,374.90, as allowed by the grant, for the Residential Sound Insulation Project Phase 1 project scope that includes program management, program development, community outreach, evaluation of structures, design services, bid and award activities, and construction activities for 7 homes, and for the Design and Bid / Award Services for 54 homes, subject to review and approval of the City Attorney’s Office.”

VOTING: unanimous; motion carries.

4.14 Request to Accept a Federal Aviation Administration Grant to Update the Noise Exposure Map and to Execute a Contract for Related Services with Jones Payne Group, Inc. – Airport

Interim Director Longo noted that all programs must be inclusive of a noise exposure map. He said that the Airport is also required to perform noise compatibility upgrades or programs to eligible residents within a certain noise level range. He said that 15 houses in this range will undergo sound mitigation efforts.

VOTING: unanimous; motion carries.

4.15 Request Authorization to sign a contract for Construction Improvements to 8 Homes related to the Residential Sound Insulation Program (RSIP) Pilot Project with NENA Construction – Airport

MOTION by City Council President Paul, SECOND by Councilor Magee, to approve and recommend that the City Council authorize the Acting Director of Aviation to execute a contract with NENA Construction in the amount of up to $835,763.93, with a 15% contingency, totaling up to $961,128.52, as allowed by Airport Improvement Grant 129 administer by the Federal Aviation Administration, for the construction improvements to 8 Homes related to the Residential Sound Insulation Program Pilot Project., subject to review and approval of the City Attorney’s Office.

VOTING: unanimous; motion carries.

4.16 Request to accept a Federal Aviation Administration Grant for Construction of Taxiway A Mill and Overlay and Execute Contracts for Construction with SD Ireland Construction and Related Inspection Services with McFarland-Johnson Consulting, Inc. – Airport

Director of Engineering Lackey said that this is a maintenance project and will also include new guard lights to give more ease of maintenance during winter.

MOTION by Councilor Magee, SECOND by City Council President Paul, to 1. “To approve and recommend that the City Council authorize the Acting Director of Aviation to execute a grant from the Federal Aviation Administration accept an amount up to $3,340,059.12, with a 15% contingency, totaling up to $3,841,067.99, as allowed under the grant, for the construction of Taxiway A’s Mill and Overlay, subject to review and approval of the City Attorney’s Office.” 2. “To approve and recommend that the City Council authorize the Acting Director of Aviation execute contracts with SD Ireland Construction in a cumulative amount of up to $3,041,563.00, with a 15% contingency, totaling up to $3,497,797.45, as allowed by the grant, for the construction of Taxiway A’s Mill and Overlay, subject to review and approval of the City Attorney’s Office;” and 3. “To approve and recommend that the City Council authorize the Acting Director of Aviation to execute contracts with McFarland-Johnson Consulting, Inc. in a cumulative amount of up to $309,128.85 with a 15% contingency totaling $355,498.18, as allowed by the grant for construction oversight of the for the construction of Taxiway A’s Mill and Overlay, subject to review and approval of the City Attorney’s Office.”

VOTING: unanimous; motion carries.

4.17 Approval to accept Planning Grant Continuum of Care VT-501 & Permanent Supportive Housing Grant Agreements in FY23 – CEDO - **moved to consent agenda**

4.18 Approval to accept a Grant Award for Congressionally Directed Community Projects Application OPRE-5ACF-HHS $404,665 September 1st, 2022 - August 31st, 2023 – CEDO

Director Pine said that this is federal funding secured from Senator Leahy in support of the Community Resource Center, to fill existing gaps in the operational costs for the Center, such as the provision of service and meals. Mayor Weinberger noted that the Community Resource Center will remain at Feeding Chittenden. Director Pine said that utilization of Feeding Chittenden is still higher than it was last year, demonstrating continued need.

MOTION by Councilor Magee, SECOND by City Council President Paul, to approve and recommend that the City Council approve the acceptance of grant funds for Congressionally Directed Community Projects from the U.S. Administration of Children and Families (OPRE-5 ACF.HHS) to begin in FY23 and authorize the Director of CEDO to execute all documents necessary to accept the total funding of approximately $405,000 from the U.S ACF.HHS, subject to the review and approval of the City Attorney.

VOTING: unanimous; motion carries.

4.19 Authorization to Execute Contracts for the Elmwood Emergency Shelter Community – CEDO -

Councilor Magee asked about the timeline for site work and then for the construction of shelters. Director Pine replied that some of the shelters are anticipated to be delivered on September 17, other shelters are being manufactured currently, and the modular buildings will be constructed in mid-October.

City Council President Paul asked about contractors who will oversee the management of the site. Director Pine replied that discussions with potential partners to manage the site are nearing completion and more information will be released later this month.

MOTION by Councilor Magee, SECOND by City Council President Paul, to approve and recommend that the City Council authorize the Director of the Community and Economic Development Office to execute the following contracts for the development of the Elmwood Emergency Shelter Community, pursuant to previously earmarked ARPA funds and subject to the final review and approval by the Office of the City Attorney: A.) Site Work Contract with GoliathTech Vermont for up to a maximum limiting amount of $283,622.59; B.) Modular Bathhouse and Community Center contract with KBS Builders for up to a maximum limiting amount of $338,429.00; C.) Shelter product and services contract with Pallet, with retroactive approval back to the effective date of March 8, 2022 and with a maximum limiting amount of $215,280.00; and D.) Shelter pod contract with Up End This, LLC, with retroactive approval back to the effective date of March 7, 2022 and with a maximum limiting amount of $228,000.00.

VOTING: unanimous; motion carries.

4.20 Reclassification of CEDO Assistant Director, Community Justice Center - CEDO/HR - **moved to consent agenda**

4.21 Reclassification and Retitling of CEDO Financial & Administrative Coordinator Position - CEDO/HR - **moved to consent agenda**

5.0 BOARD OF FINANCE APPROVAL ONLY

5.01 North Beach Campground Pull Through Contract Documents – BPRW - **moved to consent agenda**

5.02 Reclassification of one (1) Clerk/Treasurer position - HR/CT - **moved to consent agenda**

5.03 Calendar Year 2022 Crack-Sealing Program - Authorization to Award Construction Contract – DPW - **moved to consent agenda**

5.04 Request for Approval to Amend Contract for Seasonal Ground Maintenance Services at Water Resources Facilities - DPW - Water Resources - **moved to consent agenda**

6.0 DISCUSSION REGARDING BHS/BTC 2025 BOND COST ESTIMATES AND POTENTIAL TAX IMPLICATIONS

6.01 Discussion Regarding BHS/BTC 2025 Bond Cost Estimates and Potential Tax Implications – BSD

Superintendent Flanagan began by noting that the current cost estimate for the Burlington High School/Burlington Technical Center campus is at $190 million, meaning that the bond amount would be around $165 million. He said that they have reduced the Technical Center footprint and moved that planned space and program to the Airport. He spoke about two other programs that may be moved from their current sites.

Superintendent Flanagan spoke about the tax estimates for a proposed bond amount of $165 million. He noted that recent legislation regarding pupil weighting will allow increased programming and resources to needy students as well as offset the tax rate increase due to the bond. He said that the School District is actively engaged in fundraising, both from private and public sources, regardless of the bond.

Finance Director Lavery spoke in more detail about the tax rate increase. He said that they are based on assumptions of 3.5% interest rates, that enrollment would remain constant, and that BSD borrows the entirety of the bond amount. He said that the current bond amount assumes that BSD is not able to bring in other funding, but said that they are confident that they will be able to secure additional funding to reduce the amount of the bond.

Councilor Magee said that it would be helpful to make available to constituents an interactive tool that would show them the tax impacts of any potential BSD bond. Finance Director Lavery replied that they are strategizing around how to best communicate this information to and educate the public.

City Council President Paul asked what conversations are being had to ensure that the State steps up and compensates Burlington for some of this project. Superintendent Flanagan replied that conversations with the State are ongoing and that BSD is working to ensure that the State understands the need. He said that BSD is applying for any programs for which it is eligible, both through the State and at the federal level.

Mayor Weinberger said that he has been working closely with the BSD administration on finances, noting that the City recently had its credit rating reaffirmed. He said that borrowing at this level will take the City to a level that exceeds the borrowing thresholds laid out in its established debt policy; however, there has been written understanding in an MOU between the City and BSD about the bond which lays out expectations for both parties.

Councilor Barlow asked about the 3.5% interest rate and whether it is based on current bond rating. Finance Director Lavery replied that it’s based on the current bond rating that is in place. Finance Director Goodwin added that the interest rate is based on the City’s credit rating, which was confirmed last week. He also discussed strategies to increase the amount of funding available for the project.

City Council President Paul said that in addition to in-house staff verifying the interest rate, she recommended that the City’s consultant PFM weigh in and determine whether it is a reasonable projection. She also said that the general terms of the MOU between the City and BSD be agreed-upon by Monday, in order to inform deliberations on the bond amount by the City Council on August 15, 2022. She said that every effort should be made to try and reduce the bond amount by securing other funding, noting that if the bond amount were decreased to $150 million, it might potentially not cross the debt capacity threshold in the City’s debt policy.

7.0 ADJOURNMENT

7.01 Motion to Adjourn

With no further business and without objection the meeting was adjourned at 6:37 PM.

RScty: AACoonradt