More help available for Vt. sole proprietors
The Ottauquechee River in Woodstock, Vermont. (Gareth Henderson Photo)
As COVID-19 relief efforts continue nationwide, a program in Vermont is supplying an additional $1.6 million in grants for sole proprietors.
That’s the second round of funding for a statewide block grant program administered by the Brattleboro Development Credit Corporation (BDCC) and Two Rivers-Ottauquechee Regional Commission (TRORC). The first round of economic relief grants was awarded to 157 businesses totaling $1,385,000 between August 2020 and March 2021. The program is supported by federal dollars.
The new round of grants comes at a time of great need, when many businesses are looking to get to the other side of winter amid the pandemic.
“We know this money will help many more businesses but will come nowhere near the total need that is out there,” said Bobbi Kilburn, of BDCC, in Wednesday’s announcement.
Peter Gregory, of TRORC, noted the ongoing efforts of the Legislature to provide more aid. For example, lawmakers are working on a fast-track spending bill to provide much-needed relief to individuals, families and businesses.
“We are encouraged that state legislators are currently considering adding significant state dollars to these modest federal funds in order to support small- and medium-sized businesses across the state,” Gregory said in the official statement.
This second round of funding will offer grants between $1,500 and $10,000 to qualifying sole proprietors on a first come, first served basis. Applications will open on April 5 and run through May 26.
Applicants must demonstrate financial need through business expenditures which have not yet been reimbursed through other relief programs. Expenditures may represent expenses incurred between March 1, 2020, and March 31, 2021, or ongoing expenses in order to “pivot” business operations due to the pandemic. The program is funded by the U.S. Housing and Urban Development’s Community Development Block Grant program. The federal funds are passed through the Vermont Agency of Commerce and Community Development.
Eligibility criteria has been altered for this second round of grants to include both sole proprietors with no W2 employees and S-Corp owners with no W2 employees. Other key eligibility criteria include that the applicant must:
Be from a Low to Moderate Income household per federal guidelines, which is defined as having a household income of 80% or below the area median income for your county.
Be a for-profit entity, providing goods or services to clients.
Have a physical establishment in Vermont.
Have pre-pandemic or current gross annual revenues of over $24,450 for the business.
Have been legally established prior to March 15, 2020.
Webinar training to explain the online application process will be available on April 1. To sign up for the webinar and learn more about the program breakdown, full eligibility requirements, application materials and timelines, contacts for language translation services, and to view technical assistance recorded trainings, visit the program website: https://www.vermont-cdbg-cv.com/
TRORC will be administering funds for the counties of Windsor, Orange, Caledonia, Essex, Orleans, Franklin, Grand Isle, and Chittenden. BDCC will be administering funds for the counties of Windham, Bennington, Rutland, Addison, Washington, and Lamoille.
Woodstock Village budget approved
Voters approved the proposed $1,345,829 Woodstock Village budget proposal at the polls on Tuesday, in a 41-0 tally. The budget, which has a slight increase over last year, includes $578,655 to be raised by taxes.
Three Woodstock Village Trustees running unopposed for reelection were also on the 2021 ballot. Board Chair Jeff Kahn will be serving a new three-year term, William Corson a two-year term and Brenda Blakeman a one-year term. Blakeman and Corson were each appointed to the board last year; Kahn has served multiple terms as a village trustee.
— Gareth Henderson
