City to seek roughly $500,000 in state sales‑tax reallocation for Center Street–Whale Street hotel redevelopment

Planning Director Beau told the Board of Aldermen the city and the hotel team have prepared an application to Vermont’s sales tax reallocation program for roughly $500,000 to help fund the Center Street/Whale Street hotel redevelopment. Beau said submitting an application was an explicit commitment in the developer agreement and that this step completes the first round of funding applications for the project; earlier applications have included VTrans and Northern Borders and the city expects to pursue a TIF bond this fall. He told aldermen he circulated a sources-and-uses table to board members the night before and that the reallocation application is a logical next step in assembling project funding. Aldermen voted to circulate the resolution for signatures at the meeting. There was no further debate recorded; the motion to circulate was approved and the document will be routed for signatures and submission as part of the city’s funding package for redevelopment work in the Center/Whale Street area. The board and planning staff framed this action as one part of a multi-source finance plan: federal, state, and local funding (including voter-approved TIF borrowing) are being assembled for streetscape, hotel and related redevelopment components. The planning office indicated it would continue updates as other funding rounds close.