Brattleboro Development Credit Corporation and Springfield Regional Development Corporation have received an additional $500,000 in Community Development Block Grant – Disaster Recovery (CDBG-DR) funds through the Vermont Agency of Commerce and Community Development (ACCD) to assist businesses with “unmet disaster recovery needs” related to Tropical Storm Irene. The two groups have scheduled free, mandatory, workshops in October for those interested in applying for funding through this program.
To date, BDCC and SRDC have facilitated grant awards, ranging from $1,000 to $50,000, to over 30 businesses in Southern Windsor and Windham Counties. In order to be eligible for potential funding, business applicants need to demonstrate “unmet need”. The term refers to those items that are a direct result of flooding from Irene that have not yet been addressed through other means, such as FEMA, VEDA, or other grants, loans, or contributions. Eligible use of funds include repair of structure, repair or replace equipment, creation or retention of jobs, interest rate buy downs on private loans, rent subsidies and lost rental revenue.
This is a very competitive process as the documented unmet need greatly outweighs the funding. A Selection Committee of representative individuals from each Region will determine which businesses will receive funding and the total amount of funds to be granted to each business based on program criteria. There will be 2 rounds of application with tentative due dates of November 22, 2013 and February 28, 2014. Applications must be complete to be reviewed.
If you are a business that’s still struggling to recover from the effects of Tropical Storm Irene, you are encouraged to attend to learn more about this program and how it may be of assistance.
Those interested in submitting an application must attend one of the workshops being provided in partnership with Small Business Development Corporation (SBDC) at either the Brattleboro or Springfield location. SBDC will provide direct assistance in completing the application and helping businesses to include all required materials to have a more competitive application.
RSVP here https://vtsbdc.centerdynamics.com/Events.aspx
If a previous applicant is submitting a new application, they do not need to attend the workshop, although they are certainly encouraged to.
Business Application Workshop Schedule:
Tuesday, Oct. 8th 5-7:30 pm – Marlboro College Graduate School, 28 Vernon St, Brattleboro
Thursday, Oct. 10th 9 – 11:30 am – Howard Dean Education Center, 307 South St, Springfield
Wednesday, Oct. 16th 9 – 11:30 am – Marlboro College Graduate School, 28 Vernon St, Brattleboro
Thursday, Oct. 17th 5 – 7:30 pm – Howard Dean Education Center, 307 South St, Springfield
The workshops are free of charge, but registration is required. You can register at either www.springfielddevelopment.org or www.brattleborodevelopment.com or by calling either BDCC at 802-257-7732 or SRDC at 802-885-3061.
