The Vermont Statutes Online
§ 3217. Cooperation by public bodies
(a)(1) For the purpose of aiding in the planning, undertaking, or carrying out of an urban renewal project located within the area in which it is authorized to act, any public body may, upon such terms, with or without consideration, as it may determine:
(A) dedicate, sell, convey, or lease any of its interest in any property or grant easements, licenses, or other rights or privileges therein to a municipality;
(B) incur the entire expense of any public improvements made by such public body in exercising the powers granted in this section;
(C) do any and all things necessary to aid or cooperate in the planning or carrying out of an urban renewal plan;
(D) lend, grant, or contribute funds to a municipality;
(E) enter into agreements that may extend over any period, notwithstanding any provisions or rule of law to the contrary, with a municipality or other public body respecting action to be taken pursuant to any of the powers granted by this chapter, including the furnishing of funds or other assistance in connection with an urban renewal project; and
(F) cause public buildings and public facilities, including parks, playgrounds, recreational, community, educational, water, sewer or drainage facilities, or any other works that it is otherwise empowered to undertake to be furnished; furnish, dedicate, close, vacate, pave, install, grade, regrade, plan or replan streets, roads, sidewalks, ways, or other places; plan, replan, zone, or rezone any part of the public body or make exceptions from building regulations; and cause administrative and other services to be furnished to the municipality.
(2) If at any time title to or possession of any urban renewal project is held by any public body or governmental agency, other than the municipality, that is authorized by law to engage in the undertaking, carrying out, or administration of urban renewal projects, including any agency or instrumentality of the United States of America, the provisions of the agreements referred to in this section shall inure to the benefit of and may be enforced by such public body or governmental agency.
(3) As used in this subsection, the term "municipality" shall also include an urban renewal agency or a housing authority vested with all of the urban renewal project powers pursuant to the provisions of section 3219 of this title.
(b) Any sale, conveyance, lease, or agreement provided for in this section may be made by a public body without appraisal, public notice, advertisement, or public bidding.
(c) For the purpose of aiding in the planning, undertaking, or carrying out of an urban renewal project of an urban renewal agency or a housing authority hereunder, a municipality may, in addition to its other powers and upon such terms, with or without consideration, as it may determine, do and perform any or all of the actions or things which, by the provisions of subsection (a) of this section, a public body is authorized to do or perform, including the furnishing of financial and other assistance.
(d)(1) For the purposes of this section, or for the purpose of aiding in the planning, undertaking, or carrying out of an urban renewal project of a municipality, that municipality may, in addition to any authority to issue bonds pursuant to section 3214 of this title, issue and sell its general obligation bonds.
(2) Any bonds issued by a municipality pursuant to this section shall be issued in the manner and within the limitations prescribed by the laws of this state for the issuance and authorization of bonds by that municipality for public purposes generally. However, bonds so issued:
(A) shall not be considered as indebtedness of the municipality limited by the provisions of section 1762 of this title or any other general or special law; and
(B) may be authorized by a majority of all the voters present and voting on the question at a meeting of such municipality held for the purpose pursuant to subchapter 1 of chapter 53 of this title or pursuant to the provisions of any special law that governs the authorization of indebtedness by the municipality.
(3)(A) So long as any such bonds of the municipality are outstanding the local governing body may deduct, in any one or more years from any net increase in the aggregate taxable valuation of land and improvements in all areas covered by urban renewal plans the amount necessary to produce tax revenues equal to the current debt service on such bonds, assuming the previous year's total tax rate and full collection.
(B) Only the balance, if any, of such net increase shall be taken into account in computing the sums that may be appropriated for other purposes under applicable tax rate limits.
(C) All the taxable property in all areas covered by urban renewal plans, including the whole of such net increase, shall be subject to the same total tax rate as other taxable property, except as may be otherwise provided by law.
(D) The net increase shall be computed each year by subtracting, from the current aggregate valuation of the land and improvements in all the areas covered by urban renewal plans, the sum of the aggregate valuations of land and improvements in each such area on the date the urban plan for such area was approved under subsection 3207(f) of this title. An area shall be deemed to be covered by an urban renewal plan until the date shown in the plan as its expiration date or until the date all the indebtedness incurred by the municipality to finance the applicable project has been paid, whichever date is later.
(4) All the provisions of this subsection shall apply to all municipalities, notwithstanding any provision of general or special law to the contrary that specifies a different debt limit, that requires a greater vote to authorize bonds, that prescribes a different computation of appropriations under tax rate limits, or that is otherwise inconsistent with this subsection. (Amended 1963, No. 2, § 1, eff. Feb. 14, 1963; 2017, No. 74, § 108.)