Vermont § 280l - Applications for financial assistance

§ 280l. Applications for financial assistance

• (a) Any qualified borrower may file an application with the Board to obtain financial
  assistance from the Program. The application shall be filed in such manner and contain
  or be accompanied by such information as the Program may require. (b) In addition to other requirements prescribed by the Board, an application shall: (1) describe the nature and purpose of the proposed transportation project, including
  the need for the project and the reasons why the project is in the public interest; (2) state the estimated costs of the project and the proposed sources of funding, if any,
  in addition to the financial assistance being sought from the Program; (3) state the economic development benefit; (4) demonstrate that the project has the support of the regional planning commission or
  the metropolitan planning organization, as the case may be, in which the project is
  located, which support shall not be given unless the project is in conformance with
  the regional plan; (5) demonstrate conformance with Agency of Transportation design standards and level of
  improvement policies; and (6) demonstrate that the public benefits of the project outweigh its public costs. (c) Before any financial assistance under this chapter is approved for an Agency of Transportation
  project, the applicant shall demonstrate that: (1) the project is part of the State’s current year transportation capital program approved
  by the General Assembly under 19 V.S.A. § 10g(c); or (2) if the Legislature is not in session, the project is approved by a committee, composed
  of the Joint Fiscal Committee, the Chair of the House Committee on Transportation
  or designee, and the Chair of the Senate Committee on Transportation or designee. (Added 1997, No. 43, § 1.)