Town and Vanderbilt Properties Agree on Compensation for Roundabout Project

The Town of Manchester announced today that it has reached an agreement with Vanderbilt Properties on compensation for rights and easements related to the so-called Roundabout Project, essentially clearing the way to start construction in the spring 2011.

“I am really pleased that we were able to amicably negotiate terms with Vanderbilt Properties and Ben Hauben as well as the other affected property owners. Ben and the rest of the business community demonstrated great commitment to Manchester and we are grateful for their cooperation and assistance” said Ivan Beattie, Chair of the Selectboard. “This project represents years of hard work and planning. Once completed, it will have profound benefits to Manchester well beyond just transportation, providing the foundation for future economic growth and prosperity.”

The Selectboard issued an Order of Necessity on September 7, 2010, which was not appealed by Vanderbilt Properties; the appeal period has since expired. On compensation, the Town originally offered $20,400 for rights and easements. The Town and Vanderbilt Properties negotiated a settlement that provides $30,000 in compensation. Ninety percent of right of way acquisitions are funded by the Federal Highway Administration and the Vermont Agency of Transportation, while 10% are funded by the Town’s Junction Improvement Fund, financed by contributions from developers.

“Lee Krohn (Planning Director), Ron Mancini (chair of the Transportation Initiative Committee or TIC) and the entire TIC Committee deserve a lot of credit,” said Town Manager John O’Keefe. “Moving forward, the Town is now focused on managing the project through the construction phase so that it goes as smoothly as possible with limited disruption to businesses and residents.”

For more information about the Roundabout project please visit www.manchester-vt.gov/content/function-junction-roundabout-project. The Town of Manchester intends to make future announcements as the project moves from design to construction.