802.885.3061
Sign in | Search Site

News & Events

Check out our Winter 2012 Newsletter Click on the link below!

http://www.springfielddevelopment.org/uploads/Newsletter%20Winter%202012.pdf

 

 

Brattleboro & Springfield Development Corporations

Receive Disaster Recovery Funding

Will help flood impacted businesses throughout Windham and southern Windsor Counties

BRATTLEBORO/SPRINGFIELD – The Vermont Community Development Program announced on Thursday that they have awarded a one million dollar Community Development Block Grant for Disaster Recovery (CDBG-DR) to two southeastern Vermont Regional Development Corporations. Brattleboro Development Credit Corporation (BDCC) is partnering with Springfield Regional Development Corporation (SRDC) to provide funding for flood-impacted businesses throughout Windham and southern Windsor counties.

BDCC Executive Director Jeff Lewis is encouraged by what this means for flood impacted businesses.

“One of the most striking things we have learned since Irene is just how long recovery takes,” he said.  “While it is discouraging that some businesses are still trying to recover, we’re happy to have been able to find another resource to try and help.”

Notification of the grant award came on Thursday from the Vermont Community Development Program which handles the application process for CDBG funds statewide, and represents the second round of funding made available from $21.7 million in Community Development Block Grant Disaster Recovery funds allocated to the state from the U.S. Department of Housing and Urban Development following Tropical Storm Irene.

Senator Patrick Leahy, Senator Bernie Sanders, and Congressman Peter Welch fought to include $400 million in HUD CDBG disaster funding in the federal budget.  Their efforts ensured that Vermont was one of a handful of states that received an allocation of this funding.  Leahy, Sanders, and Welch have also worked with HUD to ensure that the funding had less strings attached enabling the funds to be used in some of the most severely impacted communities in Windham County.  The awards are based on project reviews by the Vermont Community Development Program staff, funding recommendations made by the Vermont Community Development Board and approval of Secretary of Commerce and Community Development Lawrence Miller.

“These awards are the result of hard work by many individuals and the partnerships formed to make these projects a reality,” said Secretary Miller.  “First the work of our congressional delegation, then our Agency staff and Community Development Board to implement the program efficiently and effectively and of course the tireless efforts of the applicants to bring needed resources to their communities.  This is another important step forward in the recovery process.  We’re pleased the two regional development corporations were able to collaborate and expand their abilities to help businesses impacted.  The RDC’s are an important partner in our economic delivery system and flood recovery is another area where they have stepped up. Recovery funding is still available and we look forward to making additional awards in the months ahead and putting this funding to work helping Vermonters.”

Funds are required to meet “unmet disaster recovery needs”, including repair of structure, repair or replace equipment, create or retain jobs, interest rate buy downs on private loans, rent subsidies and lost rental revenue. 

SRDC’s Bob Flint indicated that the funding would help ease the transition from recovery to growth. “We hope to utilize the block grant to help the small businesses that are still feeling the financial pressure from Irene be in a position to have stability and start to move forward to prosperity”, Flint said.

The sub-grant process will be competitive.  Applications will be available on the BDCC and SRDC websites by December 19th, www.brattleborodevelopment.com or www.springfielddevelopment.org. VtSBDC will be providing a limited series of technical assistance seminars for businesses that want help with the application.  The dates for those sessions will be posted with the application.

For more information on business applications please contact: April Harkness, BDCC, 802-257-7731 or Paul Kowalski, SRDC, 802-885-3061

Disaster recovery funds may be available for

Southeastern Vermont small businesses

The Brattleboro Development and Credit Corporation and Springfield Regional Development Corporation are collaborating on an application for a small business Community Development Block Grant for Disaster Recovery. The intent of the grant would be to provide direct funding assistance to area businesses that are still feeling the impact from Tropical Storm Irene.

At the urging of State officials, the two southeastern Vermont Regional Development Corporations (RDC) are working with affected companies to understand their remaining unmet financial needs. The RDC’s are reaching out to any businesses in their regions to collect this information, which will be part of the application for funding. If the application is successful, there will be a formal application process for companies that wish to access any available subgrants or loans.

The two RDC’s are interested in hearing from any area business that still has unmet financial needs. If a company is in Windham County, contact BDCC at 802-257-7731. For businesses in Southern Windsor County, call SRDC at 802-885-3061. A copy of the informational forms that businesses are being asked to complete can be found on the Blog page on the SRDC site.

Springfield Regional Development Corporation serves the Southern Windsor County area of Vermont, including the towns of Springfield, Ludlow, Chester, Weathersfield, Windsor, West Windsor, Reading, Baltimore, Andover and Cavendish. SRDC works with existing employers as well as redeveloping vacant commercial/industrial properties and helping businesses to create and expand in the region.

Brattleboro Development Credit Corporation is a private, nonprofit economic development organization that serves as a catalyst for industrial and commercial growth throughout Southeastern Vermont. The primary objective of the BDCC is to create and retain a flourishing business community in the Windham Region that supports vibrant fiscal activity, and improves the quality of life of all its residents. BDCC serves the twenty-seven towns of Athens, Brattleboro, Brookline, Dover, Dummerston, Grafton, Guilford, Halifax, Jamaica, Londonderry, Marlboro, Newfane, Putney, Readsboro, Rockingham, Searsburg, Somerset, Stratton, Townshend, Vernon, Wardsboro, Westminster, Weston, Whitingham, Wilmington, Windham and Winhall.