A former power plant site in Burlington, Vermont will not be redeveloped as the prior mayoral administration had proposed.
Burlington Mayor Miro Weinberger promised that he would determine within 90 days of taking office whether to move forward with the former administration’s development plan for the Moran plant. Located on the Lake Champlain waterfront, the former power plant has been unused since it was shut down in 1986. Mayor Weinberger announced his decision as he stood in front of the hulking, empty building.
Mayor Weinberger said his main reasons to reject the plan include a lack of precedent for the city succeeding as a commercial developer, the plan wasn’t ready for implementation and the city should not undertake speculative financial adventures. Instead, Mayor Weinberger announced a five point action plan for the northern waterfront area.
The Moran Blue Ribbon Committee had reviewed the plan during the Kiss Administration. Chair Joseph Boutin.
The city of Burlington’s debt rating was lowered by Moody’s in June. Ward 6 City Councilor and Chair of the City Council’s Parks Committee Karen Paul noted that rejection of the old Moran development plan is a path towards improving that rating.
The Mayor is planning to put a Tax Increment Financing question on the November ballot to finance the Waterfront Access North action plan.