- Associated Press - Tuesday, June 26, 2018

ST. JOHNSBURY, Vt. (AP) - Officials in the Vermont town of St. Johnsbury have decided to use nearly $1 million in state housing funds towards the purchase an apartment complex.

The Caledonian-Record reports the select board voted unanimously Monday to approve a letter of support for the Depot Square housing project. The letter says the town will use about $989,000 in state funds to help Burlington-based nonprofit Housing Vermont purchase the property. The site was listed at $1.85 million.

Officials hope the apartment complex will help spur a larger revitalization project for the downtown area. St. Johnsbury is considering block grants, federal rural development funding and tax financing to aid the project.

Renovations on the complex will take about a year. Housing Vermont says existing tenants will be given the chance to return.


Information from: The Caledonian-Record, http://www.caledonianrecord.com

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