GOVERNOR PHIL SCOTT ANNOUNCES $1.6 MILLION OF NEW BROWNFIELD REVITALIZATION FUND INVESTMENTS

For Immediate Release

Monday, September 16, 2024

 

GOVERNOR PHIL SCOTT ANNOUNCES $1.6 MILLION OF NEW BROWNFIELD REVITALIZATION FUND INVESTMENTS

Projects are expected to bring 64 housing units online in Washington and Bennington counties.

Montpelier, Vt. – Governor Phil Scott and the Department of Economic Development today announced the Brownfields Revitalization Fund (BRF) – State Program is investing $1,594,500 to clean up two properties in Bennington and Northfield. Once completed, the projects are poised to bring 64 housing units online.

“Brownfield remediation is not only good for the environment but is also an important tool that can be used to revitalize communities,” said Governor Phil Scott. “These projects will help Northfield and Bennington redevelop vacant sites, create housing units, and bring jobs to their downtowns.”

“These investments are significant for anchor employers and workers alike who are eager to see new housing units become available,” said Economic Development Commissioner Joan Goldstein. “When BRF investments also create space for businesses and important community services, the versatile results have the potential to be transformative for the local economy.”

Below is information on the newly awarded grants from the Brownfields Revitalization Fund – State Program:

Northfield Village Development LLC

• Location: Northfield, Washington County
• Award: $94,500
• Purpose: Construct a 25-unit apartment building on a vacant lot in Northfield’s downtown.
• Anticipated outputs: Development of a 25-unit, fully accessible apartment building that will bring a vacant lot back into use while addressing the housing shortage. 1.1 acres will be mitigated.

650 Main Street LLC

• Location: Bennington, Bennington County
• Award: $1,500,000
• Purpose: Convert a former high school into a mix of uses, including residential units. This 10,000 sq. ft. building that has been vacant for more than 20 years and represents a $40,000,000 public/private partnership that is expected to increase the Grand List significantly.
• Anticipated outputs: Development of a vacant building into 39 housing units as well as spaces for commercial ventures, the Bennington Senior Center, Meals on Wheels programs, and a childcare center anticipating 27 jobs will be created. 2.29 acres will be mitigated.

Since the State BRF launched in October 2021, $18.3 million has been awarded to 39 clean-up projects across 11 counties. These projects are expected to create 644 housing units and 693 jobs. Additionally, the investments are projected to leverage $337.5 million in redevelopment funding, ultimately improving 67.59 acres of land.

The Vermont Department of Environmental Conservation is an important partner in brownfield remediation providing expertise and technical assistance for the redevelopment of a contaminated property.

The Brownfields Revitalization Fund promotes the productive reuse of sites that are not fully utilized due to contamination on the site. By providing financial assistance for cleaning up these sites, Vermont continues its commitment to environmental stewardship, community investment, and economic growth. 

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