Development deal in Newport off the table - WCAX.COM Local Vermont News, Weather and Sports-

Development deal in Newport off the table

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NEWPORT, Vt. (AP) - A proposal from the owner of Vermont's Jay Peak Resort to buy a plaza in Newport to make way for a convention center appears to off the table.

Vermont Public Radio reports Bill Stenger of Jay's Peak and real estate developer Tony Pomerlau have had an on-again, off-again agreement to transfer ownership of the Lake Memphremagog waterfront plaza. Stenger had said it would make a great convention center and marina.

But Pomerleau said Stenger failed to make the first of several down payments of $1 million each.

Stenger confirmed the plaza isn't part of the plan now, but he's still committed to a conference center hotel in Newport.

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