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Outside the Champlain Mill in Winooski on Friday, August 15, 2003 Governor Jim Douglas threw his support behind efforts to redevelop downtown Winooski. With that support comes loan guarantees from the state that the federal government that developers have said are essential to the project's success.
The Governor said that he believes the Winooski Falls Riverfront
Redevelopment Project can work, and that he expects to be able to
provide
the guaranty required by U.S. department of Housing and Urban Development
(HUD) for the approximately $22 million loan that HUD will make to
Winooski
for affordable housing.
"The City of Winooski has been working very
hard for many years to realize its vision for a revitalized downtown," Governor Douglas said. "I,
too,
share that vision and since coming to office in January have worked
with
city officials, and others to assist in transforming that vision
into
reality."
Douglas said that the downtown revitalization project is important to him for three primary reasons, fighting sprawl, and creating affordable housing and hundreds of new jobs. "First and foremost," Douglas said, "this project is smart and responsible growth, that can serve as a model for us as we seek to fight sprawl and revitalize downtowns throughout Vermont."
The project will create much more commercial space and 600 units of housing, 125 of which will be designated for low and moderate income Vermonters. "In Chittenden County--Burlington in particular--where housing is scarce, especially affordable housing, this type of development is sorely needed," Douglas said.
"And the creation of hundreds of construction jobs as well as permanent jobs will be a terrific boost to Vermont's economy," he added.
Governor Douglas Announces Backing for Winooski Downtown Revitalization.
A crowd of approxiamtely 60 looks on as Governor Jim Douglas announces his backing for Winooski's downtown revitalization.