The Green Mountain Children's Museum announced this morning that it will not be one of three anchor tenants in the Moran Plant redevelopment project on the city's waterfront.
The multi-million-dollar redevelopment of the former coal-fired electric generating plant has been years in the making. In September, a key financial deal was struck with the legislature to allow Burlington to finance its portion of the development without additional taxes.
Citing the economy, GMCM's board chair said the organization is looking for a new home elsewhere. The group's board made the decision Tuesday morning. An announcement was made this morning by the mayor's office.
“The city has done a good job of holding down project costs, however, the economic climate has changed since the project began and there are many variables beyond either party’s control," said Mia Graham Beer, of GMCM. "As a start?up nonprofit, it is especially vital that we acknowledge those changes. We have therefore decided to seek an alternate location.”