09.28.16

$1.4 M. Grant Will Help Shape Decisions On The Moran Plant On The BURLINGTON WATERFRONT

Leahy: $1.4 M. Grant Will Help Shape Decisions
On The Moran Plant On The Burlington Waterfront

BURLINGTON, Vt. (WEDNESDAY, Sept. 28, 2016) -- In a major boost to economic development efforts on the Burlington Waterfront, Senator Patrick Leahy (D-Vt.) announced on Wednesday a $1.4 million grant from the U.S. Economic Development Administration (EDA) to the City for waterproofing and flood resiliency of the former Moran Plant. Previous high-water events on Lake Champlain have flooded the building and impeded redevelopment.

The federal funding would 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.

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.”

U.S. Department of Commerce Secretary Penny 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 publically 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.”

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