2012 Vermont Statutes
Title 10 Conservation and Development
Chapter 12 VERMONT ECONOMIC DEVELOPMENT AUTHORITY
§ 280a Findings and purpose

§ 280a. Eligible projects; authorized financing programs

(a) The authority may develop, modify, and implement any existing or new financing program, provided that any specific project that benefits from such program shall meet the criteria contained in the Vermont sustainable jobs strategy adopted under section 280b of this title, and provided further that the program shall meet the criteria contained in the Vermont sustainable jobs strategy adopted under section 280b of this title. Such programs may include:

(1) the mortgage insurance program, administered under subchapter 2 of chapter 12 of this title;

(2) the loans to local development corporations program, administered under subchapter 3 of chapter 12 of this title;

(3) the industrial revenue bond program, administered under subchapter 4 of chapter 12 of this title;

(4) the direct loan program, administered under subchapter 5 of chapter 12 of this title;

(5) the Vermont financial access program, administered under subchapter 8 of chapter 12 of this title;

(6) the SBA 504 Certified Development Company and Rural Economic Activity Loan programs of the authority's Vermont 503 Corporation, administered by the authority under subdivision 216(13) of this title;

(7) the Small Business Development Corporation program, administered by the authority under subdivision 216(14) of this title;

(8) one or more programs targeting economically distressed regions of the state, and specifically including the authority to develop a program to finance or refinance up to 100 percent of the existing assets or debts of a health, recreation, and fitness organization which is exempt under Section 501(c)(3) of the Internal Revenue Code, the income of which is entirely used for its exempt purpose, that owns and operates a recreation facility located in a distressed region of the state;

(9) an export finance program, administered by the authority under subchapter 9 of chapter 12 of this title;

(10) any other program implemented after the adoption of the sustainable jobs strategy pursuant to section 280b of this title designed to meet Vermont's need for sustainable economic development;

(11) a program that would award grants made to eligible and qualified recipients as directed by the agency of agriculture, food and markets or the agency of natural resources for the purpose of funding stream stability and conservation reserve enhancement environmental initiatives approved by the agencies, provided that the maximum amount of grants awarded by the authority pursuant to the program shall not exceed $1,340,238.00 in the aggregate.

(b) This section shall not apply to the Job Start program authorized by subchapter 7 of chapter 12 of this title, and the agricultural finance programs authorized by chapter 16 of this title. (Added 1995, No. 46, § 14; amended 2003, No. 122 (Adj. Sess.), § 281, eff. June 10, 2004; 2011, No. 63, § E.800.)