§ 5807. Better Places Program; crowd granting
(a)(1) There is created the Better Places Program within the Department of Housing and Community
Development, and the Better Places Fund, which the Department shall manage pursuant
to 32 V.S.A. chapter 7, subchapter 5. This shall be the same Fund created under the prior section 2799 of this title.
(2) The purpose of the Program is to utilize crowdfunding to spark community revitalization
through collaborative grantmaking for projects that create, activate, or revitalize
public spaces.
(3) The Department may administer the Program in coordination with and support from other
State agencies and nonprofit and philanthropic partners.
(b) The Fund is composed of the following:
(1) State or federal funds appropriated by the General Assembly;
(2) gifts, grants, or other contributions to the Fund; and
(3) any interest earned by the Fund.
(c) As used in this section, “public space” means an area or place that is open and accessible
to all persons with no charge for admission and includes village greens, squares,
parks, community centers, town halls, libraries, and other publicly accessible buildings
and connecting spaces such as sidewalks, streets, alleys, and trails.
(d)(1) The Department of Housing and Community Development shall establish an application
process, eligibility criteria, and criteria for prioritizing assistance for awarding
grants through the Program.
(2) The Department may award a grant to a municipality, a nonprofit organization, or a
community group with a fiscal sponsor for a project that is located in or serves an
area designated under this chapter that will create a new public space or revitalize
or activate an existing public space.
(3) The Department may award a grant to not more than three projects per calendar year
within a municipality.
(4) The minimum amount of a grant award is $5,000.00, and the maximum amount of a grant
award is $40,000.00.
(5) The Department shall develop matching grant eligibility requirements to ensure a broad
base of community and financial support for the project, subject to the following:
(A) A project shall include in-kind support and matching funds raised through a crowdfunding
approach that includes multiple donors.
(B) An applicant may not donate to its own crowdfunding campaign.
(C) A donor may not contribute more than $10,000.00 or 35 percent of the campaign goal,
whichever is less.
(D) An applicant shall provide matching funds raised through crowdfunding of not less
than 33 percent of the grant award. The Department may require a higher percent of
matching funds for certain project areas to ensure equitable distribution of resources
across Vermont.
(e) The Department of Housing and Community Development, with the assistance of a fiscal
agent, shall distribute funds under this section in a manner that provides funding
for projects of various sizes in as many geographical areas of the State as possible.
(f) The Department of Housing and Community Development may use up to 15 percent of any
appropriation to the Fund from the General Fund to assist with crowdfunding, administration,
training, and technological needs of the Program. (Added 2023, No. 181 (Adj. Sess.), § 66, eff. June 17, 2024.)