RUTLAND, Vt. (AP) Developers are planning a $20 million hotel project at the site of the former Rutland Herald building.

The Rutland Herald reports the Williston-based firm DEW Construction confirmed it had signed a $620,000 purchase agreement for the Rutland property. Pete Kelley, DEW vice president said there aren't any design plans for the project yet.

Alderwoman Melinda Humphrey, who serves as chairwoman of the Community and Economic Development Committee, said she's excited about the project. Humphrey said the hotel could appeal to tourists and skiers.

Downtown Rutland Partnership executive director Steve Peters said the hotel would increase business in the area.

According to Kelley, the old Herald building would be demolished. The proposal still needs to pass the Act 250 process.

For more information, visit rutlandherald.com.