Vermont to Hold Meetings This Week on Flood Aid

June 27, 2011

Vermont communities in counties that were declared a disaster from spring flooding will get some help applying for federal aid.

The Vermont Agency of Transportation will hold a series of meetings for communities to learn how to apply for federal funding to cover flood recovery costs.

The first two meetings are scheduled this week. A briefing will be held Wednesday at 9 a.m. for Addison and Chittenden county towns at the Essex Alliance Church. The following day on Thursday Franklin and Grand Isle, county community representatives are invited to a briefing at the La Quinta Inn and Suites in St. Albans.

Other meeting are planned for Lamoille, Essex and Washington counties.

Meanwhile, Gov. Peter Shumlin reported late last week that 41 Vermont businesses hurt by spring flooding are seeking help from a new low-interest loan program.

Since the program was announced June 20, loans ranging from $5,000 to $25,000 have been given out to businesses from Barre to St. Albans.

Shumlin asked the Emergency Board to approve $1 million to enable the Vermont Economic Development Authority to borrow an additional $3 million and make a total of up to $4 million in loans available.

VEDA Director Jo Bradley said last Thursday that so far 14 applicants had received checks totaling $307,000 and if all applicants are approved, the program will loan a total of $914,260.

Officials said the five-year loans will carry no payments or interest in their first year and a rate of 1 percent thereafter.

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