A local nonprofit outbid a competitor for the vacant federal building in Montpelier, providing the group an opportunity to shape the future of the prominent site in the capital city. The 87 State Street Local Development Corporation submitted a high bid of $540,000 during the auction, which ran for nearly two months and ended on Wednesday. One other bidder was involved but topped out at $530,000, according to the auction page. The 70,000-square-foot building on a 1.6-acre lot has been vacant since the catastrophic July 2023 flooding that submerged downtown Montpelier. “We really want to get this property back to work for Montpelier,” he said.