Hearing scheduled for VY economic development funds
BRATTLEBORO -- Funds that are coming from Entergy for economic development in Windham County will be the focus of a discussion on June 3 at Townshend Town Hall, from 5:30 to 7 p.m.
In August 2013, Entergy announced it was ceasing operations at its Vermont Yankee nuclear power plant in Vernon. In a memorandum of understanding inked between the state and Entergy, the power company agreed to send $10 million over five years to Vermont for economic development in Windham County. In addition, Entergy agreed to release more than $5 million it was holding in escrow for use in the state's Clean Energy Development Fund. Half of that amount is destined for Windham County.
In early May, the Vermont Agency of Commerce and Community Development it was in the process of developing guidelines on how the money should be disbursed.
"The Agency of Commerce and Community Development has been given authority to develop and implement a process to accept and review proposals for the utilization of these funds and make recommendations to the Governor for final approval," wrote Lucy Leriche, the Deputy Secretary of ACCD, in an email announcing the process. "We are working through the details of the application, review, approval, and monitoring/reporting processes and will be inviting applications as soon as this work is complete."
Leriche noted that they expect to accept the first round of proposals in early July, but also noted that applicants shouldn't apply for any funds until the application materials have been finalized and released.
"We expect to fund various types of proposals that have a direct impact on job retention and job creation within Windham County," she wrote. "So get creative and watch for additional information soon. We look forward to working with you to make the post-VY transition as smooth as possible for Windham County and the state of Vermont."
On June 3, the Vermont Agency of Commerce and Community Development will hold a public hearing to brief the public and take public comment on the process under development at the agency for considering applications for funding for economic development in Windham County made available through the MOU between the state of Vermont and Entergy Vermont Yankee.
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