College considered selling land before Sander's wife left

AP News
Posted: Aug 01, 2017 12:17 AM
College considered selling land before Sander's wife left

BURLINGTON, Vt. (AP) — An economic development official says a financial services company had considering buying some of a now-defunct college's lakefront property while U.S. Sen. Bernie Sanders' wife was president of the Vermont school.

Burlington College closed last year after struggling under the weight of its $10 million purchase of property and buildings from the Roman Catholic Diocese of Burlington in 2010 during Jane Sanders' presidency.

Federal investigators are looking into the finances behind the real estate deal put together by Jane Sanders.

Frank Cioffi, president of the Greater Burlington Industrial Corporation, tells the Burlington Free Press ( ) that the sale of some of the land to a financial services company fell through because the site was too small for the company's needs.

A developer later purchased the land for a housing development.