Governor Jim Douglas says he believes the proposed redevelopment of downtown Winooski can work. Douglas says he supports the project because it cuts down on sprawl, and creates affordable housing and hundreds of construction jobs.
The $175 million project is the largest downtown revitalization ever in Vermont. The massive redevelopment project includes headquarters for the Vermont Student Assistance Corporation, other office buildings, a parking garage and 600 units of housing.
Douglas expects the state will provide Winooski with a loan guaranty of $22 million. The funds will help Winooski secure a loan from the federal Department of Housing and Urban Development to pay for the project.