Multi-Modal Transit Center
and Confluence Park
Project Costs & Resources
| Carr Lot Project subsection links Background~Main Page | Plans & Public Involvement | DRAFT Vision Project Costs & Resources | Multimodal Center Application | Next Steps | Slideshow |
Because this investigation is in such an early stage, anticipated cost figures are somewhat speculative.
In 2001, the City received an Environmental Protection Agency (EPA) site assessment grant to examine the extent of possible environmental contamination on the site. According to the application submitted by the Central Vermont Regional Planning Commission, the community involvement and support for this project region-wide support for brownfield remediation.
With the Targeted Brownfield Assessment not yet completed, the specific financial needs for each phase of the project (cleanup and redevelopment) are not definite. Based on the currently available information, cleanup costs are in expected to be in the area of $200,000 or more. The City anticipates that the Metcalf & Eddy Targeted Brownfield Assessment and Field Task Work Plan Amendment Report due in January 2003 will assist the City in arriving at a more definitive determination of the costs associated with the cleanup.
If the EPA Brownfield Cleanup Grant is awarded, the City will be required to contribute at least 20 percent of the total project cost (i.e., $40,000 of a $200,000 project). That portion of the $800,000 bond authorization not used for the purchase of the lot can be used toward the remediation and redevelopment of the site, if necessary. In addition, the City has undesignated and designated community development funds from which the 20 percent cost share could be obtained.
The congressional delegation from the State of Vermont has notified the City that the Committee on Appropriations reports the bill (S.2808) making appropriations for the Department of Transportation and related agencies for the fiscal year ending September 30, 2003 contains recommended earmark funds of $3,000,000 for "Montpelier Multimodal Center, VT" and an additional $2,500,000 to the "Montpelier Downtown Redevelopment Project, VT" under the Surface Transportation Program.
The City has also applied for Federal Transit administration funding for the project (as mentioned in Section B.1., above) on the order of $7,000,000. The City will also pursue additional private grants and funding alternatives as needed to support this project and expects to be able to leverage additional community development revolving loan funds as well as State funds for this purpose.
The City of Montpelier intends to apply to the Vermont Agency of Natural Resources Redevelopment of Contaminated Properties Program.
For More Information
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City of Montpelier 39 Main Street, City Hall Montpelier, VT 05062-2950 Beverlee Hill, Assistant City Manager (802) 223-9512 bhill@montpelier-vt.org |
City of Montpelier Planning and Community Development Department 39 Main Street, City Hall Montpelier, VT 05062-2950 (802) 223-9506 planning@montpelier-vt.org |
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Carr Lot Advisory Committeee 39 Main Street, City Hall Montpelier, VT 05062-2950 Jon Anderson, Chair janderson@vtlaw1.com |
Conservation Commission
39 Main Street, City Hall Montpelier, VT 05062-2950 Paul Markowitz, Chair (802) 229-6307 aviva@sover.net |
Page updated March 21, 2005
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