Land Trust to hear back from panel
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By Sarah Hinckley Times Argus Staff - Published: November 4, 2008
MONTPELIER – After a second request from the Central Vermont Community Land Trust for a loan deferment the matter was turned over to the city's Loan Fund Committee in October.
City Council members will hear the committee's recommendation on the request at Wednesday's meeting, beginning at 7 p.m. in the Council Chambers.
Following its initial request for a deferment in July, the Central Vermont Community Land Trust paid the city its first installment on a loan secured in 1992. At a meeting in October, officials came before the council again, asking for a 30-year, no-interest deferment of the loan that was for the North Branch Apartments.
Those apartments are in need of energy-efficient and construction upgrades in order to maintain their longevity. The organization has raised $3.8 million for the latest North Branch project, which includes a few units outside that address. Central Vermont Community Land Trust officials are looking for the city to defer the loan re-payment as a re-investment in the project.
Members of the Loan Fund Committee met with officials of the project on Oct. 20 and rendered a recommendation at that time.
Also scheduled for the council meeting is a presentation by Green Mountain Transit Agency officials. Board president Nancy Wasserman and Chris Cole, executive director of GMTA, are scheduled to speak to the council about an increase in the agency's request from voters at town meeting time. An increase of 3 percent is expected to be requested, according to Tawnya Kristen, community relations manager for GMTA.
"This increase, by no means, covers the increases we've seen in gas in the last year alone," she said. "If we see gas prices go up again … it puts a big strain on our budget."
Last year, Montpelier voters approved the agency's request of approximately $27,000.
There may also be talk of a regional authority, which would mean a redesign of central and northern transit services, according to Kristen. Figuring out its funding sources is one of GMTA's main priorities, she said.
"It's definitely not the best year to be asking for money," said Kristen, adding that the services the transit company provides are helping a lot of people.
All council meetings are open to the public, recorded and televised on public access television.
Contact Sarah Hinckley at sarah.hinckley@timesargus.com.
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