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Winooski approves $5,250 deposit, purchase terms and option to Champlain Housing Trust for former armory site
Summary
Council authorized a refundable 1% deposit and approved a purchase-and-sale with the Vermont National Guard and an option agreement with Champlain Housing Trust to advance redevelopment of the Armory at 255 LaFountain/50 Park Street.
Winooski City Council on Monday approved a sequence of actions to secure and transfer the former armory property at 255 LaFountain Street (also referenced as 50 Park Street): a refundable 1% deposit to hold the National Guard’s offer, authorization for the city manager to sign the city’s purchase-and-sale agreement, and authorization to execute an exclusive option with Champlain Housing Trust (CHT).
Jasmine, the city’s housing initiative director, told council the Guard set the purchase price at $525,000 and required a 1% deposit — $5,250 — to reserve the parcel.…
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