ST. ALBANS CITY — Gov. Peter Shumlin joined city leaders to celebrate the progress St. Albans has made in revitalizing its downtown over the course of the past eight years at the site of the future hotel on Lake Street Thursday afternoon.
The main reason for his visit was to announce the state’s investment of $460,000 in tax credits and reallocated sales taxes into three downtown projects: the major overhaul of Lake Street and exterior and interior renovations to 6 – 10 North Main Street and 12 – 16 North Main Street.
This is a small percentage of the local, state and federal dollars that have gone into the downtown in recent years to leverage private investment and grow business. Since 2008, St. Albans downtown has seen $14 million in TIF and local bonds, $40 million in private investment and $11 million in new construction.
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