The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
COMMUNITY DEVELOPMENT ACT
(Cite as: 10 V.S.A. § 686)
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§ 686. Eligibility, application, allocation of funds
(a) All funds allocated to the State, except for an amount not exceeding the maximum allowable
under the Federal Act available to the State for administrative costs, shall be allocated
to municipalities in an equitable and efficient manner.
(b) All municipalities, except for entitlement municipalities, shall be eligible to apply
for and receive funds under this subchapter.
(c) Entitlement municipalities shall not be eligible to apply for and receive funds under
this subchapter. Entitlement municipalities shall, however, have the authority to
apply for and receive funds and to implement and administer a community development
program as otherwise provided in the Federal Act, and this subchapter shall not be
construed in any way to limit that authority.
(d) The Agency shall solicit applications from eligible municipalities. Any eligible municipality
desiring to receive funds under this subchapter shall complete and submit an application
in a manner as shall be prescribed by the Secretary. The Agency may require a third
party credit analysis as part of the application. The applicant municipality shall
pay a fee to cover the actual cost of the analysis to be deposited in a special fund
that shall be managed pursuant to 32 V.S.A. subchapter 5 of chapter 7 and be available
to the Agency to pay the actual cost of the analysis.
(e) The Board shall evaluate the relative merits of the applications using the allocation
system established under this subchapter and make recommendations to the Secretary
as to which applications merit funding.
(f) The Secretary shall review the recommendations of the board and make the final awards
for grants-in-aid. (Added 1983, No. 10, § 1, eff. March 18, 1983; amended 2009, No. 47, § 7, eff. May 28, 2009.)