Completed Economic Development Projects

Woodbury College:

Woodbury College had outgrown its facility at 659 Elm St. Across the street stood a vacant barn with plenty of space but it was more suitable for cows than people. A 1987 VCDP grant to the City made it possible for Woodbury College to purchase and renovate this building as its new home. Their former home was renovated as a daycare center which is available for students' children while they are attending classes. The City saw this not just as an economic development project which created new jobs but also as a public service project addressing one of the root causes of lower incomes by providing job training and education.

Highlights:

• renovation of the barn
• job training and educational services to low and moderate income household
• (93% of Woodbury College students receive some financial aid)
• job creation, (30 full and part-time employees)
• degrees and training offered in
  • Mediation
  • Para-legal
  • Prevention & Community Development
  • Essential Career Skill

Funding:

City Center:

In 1983 a fire destroyed the Cody building on the corner of State and Main St. in Montpelier, leaving a vacant lot at the center of town. The HUD RDAG program played a critical role in development at the site. The project was seen as crucial to the revitalization of the City's downtown.

Highlights:

• 250 new jobs
• 90,000 sq ft of new commercial space
• flood-proofed and accessible building
• 100 new parking spaces

Funding:

Capitol Plaza:

The future of the Capitol Plaza building was uncertain following the 1992 Montpelier flood. This largest of Montpelier's commercial properties sat vacant, suffering from deferred maintenance, flood damage, and bankruptcy. This "slums and blight" project utilized VCDP funds for renovations.

Benefits:

• 47 hotel rooms
• 57,000 sq ft of accessible office space
• 14,000 sq ft of retail space
• the hotel employs approximately 100 full and part-time people, most of these positions are available to L/M income persons.

Funding: