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Federal Building Auction Amid Cleanup Costs
Description
The old Federal Building in Montpelier, still reeling from last July’s flood, is now officially up for auction — with a starting bid of just $500,000, down from its original $2.4 million asking price. But don’t get too excited: serious PCB contamination could add another $3 million to the tab, making a housing conversion a daunting financial gamble. As the auction heats up, all eyes are on whether anyone will dare take on this costly, complex cleanup and rebuild challenge.
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