Public hearing on July 10 to discuss VY funds


BRATTLEBORO -- On Thursday, July 10, the Vermont Agency of Commerce and Community Development and the Vermont Economic Development Authority will hold a public hearing from 5:30 to 7 p.m., in the Selectboard Meeting Room, Brattleboro Municipal Center, 230 Main Street, to take public comment on utilizing a portion of the $10 million made available through the memorandum of understanding between the state of Vermont and Entergy Vermont Yankee.

Under discussion will be the establishment of a Windham County Revolving Loan Fund administered by VEDA. The revolving loan fund would be part of the Windham County Economic Development Program under development by ACCD to implement the MOU.

VEDA is ready and willing to establish a fund for Windham County. VEDA has the necessary infrastructure to set this up quickly, as they have proven in past efforts like the Irene Recovery Funds. They also have the infrastructure to do the necessary underwriting and servicing of these loans.

ACCD and VEDA seek input from the region on this concept. Specific issues to discuss include:

-- Do you want to see an region-wide RLF?

-- What you would like to see for various elements of an RLF?

-- What are the tools you would like to see in this fund? (i.e. low interest loans, royalty financing, deferred payment, etc.)

-- What sort of loss appetite should we be targeting for such a fund?

-- Are there priority sectors or other priorities you would want to see in such a fund?

-- We want to be sure to leverage existing local RLF's, how can this fund complement those funds?

-- Other financing ideas?

The Agency and VEDA invite public comment on this subject matter. Comments may be offered in person on July 10. Please arrive between 5:30 p.m. and 6 p.m. to sign up to speak.

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