Moran Plant Loses Key Tenant

BURLINGTON, Vt. - WPTZ.com

One of the three main tenants in the Moran plant renovation is pulling out.

The Green Mountain Children's Museum said the economy has changed since the project began, and it can no longer afford the $2 million price tag to renovate, so it's looking for a new location.

The museum was one of three main tenants to share the cost of renovating the old power plant with the city.

The city council president doesn't think it will be easy to find someone else to take the spot, and says it may be time to cancel the project.

"I don't think the city should pursue this any longer," said city council president Bill Heogh. "There's no end in sight for which the taxpayers are paying staff, to fund it up to this point, and the federal money has been sketchy at best."

But the director of Burlington's Community and Economic Development Office (CEDO) disagrees.

He said the project has been gaining momentum.

"There'll be some interest in this," said CEDO director Larry Kupferman. "Especially now that we have such a well designed facility, and we know what the costs are going forward; we have some pretty realistic ideas of what renovating this building is going to be."

Kupferman said the city will call for proposals then choose one that best matches the vision for the Moran project.

Burlington Mayor Bob Kiss is optimistic about finding tenants, especially since the plant is in better shape that it was when the project started.

"Well I think that we as a city are in a very strong position," said Kiss. "And I think we have a pretty good sense of the city-side financing, and the other two partners I think will continue to be strong partners."

Those two partners are the Lake Champlain Community Sailing Center and the Ice Factor, which plans to build an ice-climbing wall inside the proposed Moran Center.

Mayor Kiss said the financial plan for the renovation was roughly for the city to pay $7 million, Ice Factor to pay $7 million, the Sailing Center to pay $3.5 million and the Children's Museum to pay more than $2 million.

He and Kupferman said a new tenant will have to be found, but the project is still moving forward.

Most Popular Stories at WPTZ

• Construction Project Uncovers Buried Treasure
• Guns Stolen, Car Destroyed, 2 Arrested
• Brazil Student Expelled After Wearing Mini-Dress
• House Health Care Bill Has Nowhere To Go In Senate
• Utah Girl Briefly Suspended Over Pierced Nose

MORE FROM WPTZ.COM,

wptz.com, Section Front

Man Survives Treacherous Plunge Into River Donors Ensure Vt. Soldiers Return Home For Christmas Large Fire Breaks Out At St. Albans Business Plattsburgh Schools May No Longer Accept Out-Of-District Students Calais Man Pleads Not Guilty To Child Sex Charges wptz.com, Section Front   Add wptz.com, headlines to your news reader: