Burlington, VT gets $1.4 million from EDA to restore & redevelop historic power plant

On September 28, 2016. U.S. Secretary of Commerce Penny Pritzker announced that the Department’s Economic Development Administration (EDA) is awarding a $1.4 million grant to the city of Burlington, Vermont to help restore, redevelop, and enhance resiliency of the Moran Plant, a former Municipal Electric Generating Station and nationally recognized historic site.

The federal funding will help ensure that the ground-level space, with its vaulted ceiling heights, would be flood proof and available for use, maximizing the potential economic benefits of any redevelopment project. The funds require a one-to-one match and are restricted from being used for demolition. Part of the EDA grant agreement with the City will require a feasible development agreement before any federal funds can be expended.

Vermont Senator Patrick Leahy, who has collaborated with Burlington officials to identify federal funding for multiple city priorities like this one, said: “Burlington’s waterfront is one of Vermont’s grandest jewels. Reclaiming the waterfront from its industrial past for all Vermonters to enjoy has been a goal I have worked on for many years. As the City and its potential partners develop final plans for the former Moran Plant, this grant is a catalyst and a good faith step toward making those plans a reality. If the City in the end decides that this project is not feasible, it will go forward knowing that every opportunity and resource was considered.

Pritzker said: “The Department of Commerce through our Economic Development Administration is pleased to partner with the City of Burlington to enable redevelopment of the Moran Plant so that it can be used year-round for publicly supported commercial endeavors. This EDA investment will facilitate conversion of this city-owned asset to leverage additional private investment that can spur new business opportunities and jobs.

Burlington Mayor Miro Weinberger, who has continued the many years of work to increase the vibrancy and accessibility of the Lake Champlain waterfront, said: “As he has on so many occasions over the last three decades, Senator Leahy has once again helped Burlington’s waterfront revitalization effort, this time by providing an additional $1.4 million to help clean up and revitalize the Moran Plant. My goal for the last two years has been to give the Moran Plant every opportunity to succeed. With the assistance of the federal and state governments, we are continuing to experience the rebirth of the long-abandoned northern waterfront.

EDA supported construction will aid in flood resiliency (as a result of FEMA D.R 4232) and maximization of interior space through site grading, demolition of select interior building components and interior waterproofing of the basement and first floor. Following completion of the entire facility, envisioned to be “net-zero” in energy use, the Moran Plant’s developers estimate that the facility will yield a $10.8 million in long-term economic impact and facilitate the creation of up to 133 new jobs over nine years.

Photo or Moran Plant by Mfwills via Wikipedia

See news release from Sen Patrick Leahy.

See full article in Vermont Business.

See fundraising website for the repurposing of the Moran Plant.

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