Newport – October 21, 2015 – (RealEstateRama) — Based on a show of interest and support from the residents of the City of Newport at a public meeting on September 14, 2015, VLT has negotiated a Purchase and Sales contract for the 129-acre property ahead of the scheduled October 23 foreclosure auction.
The entire property is enrolled in Vermont’s Current Use program and the woodland is subject to a forest management plan. The farm has been in the Scott family for five generations (with no public access permitted) and is the largest remaining agricultural property in Newport City.
“This property has contributed a rural structure to our small City for decades. Newport has grown unevenly from its early years and this growth has created challenges both physically and financially,” said resident Mary Pat Goulding. “Disorganized development of this property could have detrimental and unintended consequences to City residents, property owners and the character of the City. ”