Burlington city councilors voted Monday to advance plans that would rescue the underlying steel and concrete frame of the defunct Moran power plant on the waterfront, and create a relatively low-cost performance and recreational space.

Renderings of the new plan show that the Moran's distinctive "L-shaped" profile is retained, stripped of most of its brick.

For decades, the structure has been the subject of redevelopment plans, none of which proved economically feasible. Demolition of the plant had become the most likely scenario for a structure that once housed a coal-fired generating plant.

At the direction of Mayor Miro Weinberger, city officials gathered local experts to help create a final, low-cost alternative to flattening the building, said Neale Lunderville, interim director of the city's Community and Economic Development Office.

"Ultimately, we're trying to deliver something that has greater value than demolition; something that could be magical and beautiful, and functional from day-one," he added.

It could cost less than demolition

Demolition costs for the plant range from about $4 million - $10 million. Partial demolition, retaining the building's frame, would likely cost about $5.4 million — which could be financed through anticipated upticks to waterfront district tax revenues, as well as a $2 million federal loan, Lunderville said.

The Moran's basic framework could be embellished as future finances allow, he added. Illustrated concepts include a partially sheltered ice skating rink, art exhibit space and observation decks.

Contact Joel Banner Baird at 802-660-1843 or joelbaird@freepressmedia.com. Follow him on Twitter @VTgoingUp.