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Unsafe Dam State Revolving Fund is sponsored by Vermont Department of Environmental Conservation. This special fund provides funding to municipalities, nonprofit entities, and private individuals for the reconstruction, repair, removal, breaching, draining, or other action necessary to reduce the threat of a dam or portion of a dam determined to be unsafe.
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State Revolving Funds | VT Bond Bank The SRF Program as administered by the Bond Bank provides conventional and green infrastructure loans related to drinking and wastewater infrastructure as well as natural resource conservation projects. The program is funded through the EPA alongside a matching contribution from the State of Vermont.
Loan terms extend up to 30 years for clean water loans and up to 40 years for drinking water loans with rates ranging from 0 to 2 percent for each type of loan. Many loans are also eligible for partial forgiveness depending on the characteristics of the system and surrounding community seeking financing. Local bond counsel serves a critical role in confirming the legality of our borrower’s debt issuances.
Early engagement of local counsel will ensure that they will be able to provide a preliminary legal opinion alongside a loan application to the Bond Bank. Applications for financing are managed by the Vermont Department of Environmental Conservation (“DEC”) who reviews for programmatic compliance before sending to the Bond Bank for financial underwriting.
The first requirement for obtaining funding is to make an application for your project to be on the annual Project Priority List and make sure that your project is included in the annual Intended Use Plan for the program. Visit DEC’s related financing program.
According to the current listing, eligibility includes: Municipalities, nonprofit entities, and private individuals who own a dam determined to be unsafe. Confirm the full requirements in the official notice before applying.
The current listing shows actions that include breaching or removal are eligible for 25% grant and 75% loan funding. Actions that include draining, repair, reconstruction, or other action are eligible for 100% loan funding. The total eligible costs per project are limited to a maximum of $50,000, which may be increased at the discretion of the Commissioner. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Unsafe Dam State Revolving Fund is funded by Vermont Department of Environmental Conservation. Verify program details on the funder's official page before applying.
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