BURLINGTON — The Board of Selectmen recently endorsed a five-year extension for Oracle Corp. to complete a third building at its Van de Graaf Drive location.

The vote was unanimous at the board's recent meeting.

The change represents an amendment to the tax increment financing agreement with the town and state under which the California-based technology company located in Burlington.

The final decision on the change rests with Town Meeting. An article to that effect will be on the warrant for the Jan. 26 session.

Oracle has one building on the property and is moving forward with plans for the second building. When the company announced plans to locate in town in 2001, it was stated there would be a three-building campus on the property.

Construction of the remaining two buildings is running well behind the original schedule.

Randy Smith, vice president of Oracle, told the selectmen at the recent meeting, "We have an issue with the third building."

Smith also said he believes the request is "reasonable, given what is going on in the industry."

Town Administrator Robert Mercier said Oracle has obtained a building permit for the second structure and is moving ahead as quickly as possible though an environmental issue has arisen.

He said PCBs have been found on the property and will be trucked off-site. Mercier said the problem will not prevent further development of the property.

"They're moving ahead full steam on the second building," he stated.

Mercier and Selectman Ralph Patuto called Oracle "a great corporate neighbor," the latter praising the company for being "into the second phase of its campus in today's economic times."

(Steve DeMarco contributed to this report.)