NEWPORT CITY, Vt. (AP) - A Vermont city has hired a firm to help it develop its downtown area.
The Caledonian Record reports (https://bit.ly/2mFw0tV ) Newport City Council on Monday hired White & Burke to provide a review of options for development of vacant lots. The company will analyze the potential for the properties to determine what kind of developers the city should attract.
The downtown lots were supposed to become a block of hotel rooms and shops under EB-5, a program that offers foreign investors a chance at U.S. residency for investments in projects that create jobs. The city is working with a court-appointed receiver who has the authority to sell the lots to recoup foreign investors’ money.
Officials say the council will use two state grants totaling $50,000 to pay for the study.
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Information from: The Caledonian-Record, https://www.caledonianrecord.com
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