The Community Recovery and Revitalization Grant Program is focused on providing assistance to municipalities, businesses and non-profit organizations who suffered most from the COVID-19 pandemic.
Donor Name: Vermont Agency of Commerce and Community Development
State: Vermont
County: Selected Counties
Type of Grant: Grant
Deadline: Ongoing
Size of the Grant: $1,000,000
Details:
The CRRP will provide funding for projects that spur economic recovery and revitalization in communities across the state. Eligible uses for these funds include capital improvements related to the renovation or creation of childcare and affordable housing for low and moderate income households, capital projects that assist nonprofits and small businesses in industries* most impacted by the COVID-19 pandemic, and municipal water supply and wastewater projects that build housing or create jobs through business creation and expansion. These recovery funds are intended to retain and expand existing businesses and nonprofit organizations with a preference for projects that primarily serve BIPOC populations and projects located in regions and communities with declining or stagnant grand list values.
*Impacted Industries are for-profit and nonprofit organizations in the following sectors:
- Agriculture
- Educational Services
- Arts, Entertainment, & Recreation
- Accommodation & Food Services.
Funding Information
Awards will not exceed the lesser of $1,000,000 or 20% of total project cost and will be calculated based on the merit of the application.
Eligibility Criteria
- For the CRRP, an eligible small business meets the following criteria:
- It is located in the State of Vermont.
- It is a for-profit entity with not less than a 10 percent equity interest in the project.
- It does not have more than 20 locations (in total, with any affiliated businesses, regardless of whether those locations do business under the same name or within the same industry).
- It is not publicly traded.
- It has no more than 500 employees.
- It is considered a small business concern as defined in section 3 of the Small Business Act.
- For the CRRP, an eligible nonprofit meets the following criteria:
- It is a nonprofit tax-exempt organization.
- It is located in the State of Vermont.
- It is undertaking an eligible project in an impacted industry, childcare, or affordable housing.
- For the CRRP, an eligible municipality may include:
- A city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units.
Project Eligibility
- A number of projects are eligible for funding within the CRRP. These include:
- Projects located in Qualified Census Tracts (QCT).
- To determine whether a project is located in a QCT:
- Enter the project address into this QCT eligibility tool and locate the QCT number; OR
- If you already know it, reference your QCT number on this QCT list. If the census tract of a project appears in any of the three annual tables listed (2020, 2021,or 2022), it is eligible to apply for CRRP.
- To determine whether a project is located in a QCT:
- Projects related to reopening assistance or business expansion within an Impacted Industry.
- For-profit applicants must provide evidence of 10% equity investment in the project.
- All businesses must be domiciled in Vermont and the primary place of business in Vermont.
- Development or renovation of new affordable housing units that serve low to moderate income households.
- Childcare projects that expand or create new opportunities to serve low to moderate income families.
- Municipal wastewater and water supply projects that support the development of a new business establishment, the expansion of an existing business, or the development of new affordable housing units.
For more information, visit VACCD.