© 2018 Montpelier Development Corporation

PROPOSED PUBLIC PARKING GARAGE

On Tuesday, November 6, Montpelier voters approved Article 1 to allow the City of Montpelier to take out a bond to build and maintain a public parking garage. The parking garage provides critical additional parking capacity in Downtown Montpelier supports the development of a new hotel.

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PROJECT DETAILS

PROJECT DETAILS

The City is proposing to build, own and operate a 348-space parking garage in Downtown Montpelier. It would add 160 net new spaces to the Downtown, increasing the inventory of city-managed spaces by by 26 percent.

The parking garage  supports the development of a new downtown hotel, which was identified as a transformational project in Montpelier's Economic Development Strategic Plan.

COST

$10.5 Million

Parking revenues from the garage and TIF revenue from the new hotel will pay back the bond for the parking garage over 30 years. City taxes won't increase to pay for the garage.

REVENUE

For more details on the City's revenue estimates, click here.

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Click the image for the most recent renderings of the proposed parking garage.

TIMELINE

FREQUENTLY ASKED QUESTIONS

HEARD AROUND TOWN

BOB WATSON

Owner of Capitol Grounds

Parking has been a topic of discussion for all of that time and is a perennial issue in the downtown. We are at the point where we have an opportunity to make it happen.

ROB KASOW

Co-Owner of Bearpond Books

As a longtime resident and business owner, I recognize the importance of this significant downtown project. The increased economic activity and tax revenue will help Montpelier financially so future municipal budgets can better address the social well-being of the community.

DAN GROBERG

Executive Director of Montpelier Alive

This project sets a precedence for public-private partnerships and the advancement of projects that ensure the continued vibrancy of Montpelier.