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.
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.
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.
FREQUENTLY ASKED QUESTIONS
HEARD AROUND TOWN
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.
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.
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.