Map Error Costs Centre $1.7 Million in Tax Credits

A map error has left a community centre in Burlington, Vermont scrambling to make up a nearly $2-million financial shortfall.

Specifically, the center had banked on equity from New Market Tax Credits to fund the final construction payment of $1.7 million. Its leaders believed the new building at 505 Lake Street fell in a qualifying U.S. Census tract for the federal program, according to the letter.

An online map based on the building address showed it within the tract, but it turned out that the building is actually just outside it.

[Bill Morris]