Berlin, Vt. – Governor Phil Scott and the Vermont Department of Economic Development (DED) today announced that businesses and nonprofits that suffered physical damage from the July floods have been awarded $400,000 in Business Emergency Gap Assistance Program (BEGAP) grants to date. The $20 million BEGAP program is intended to support the reopening of businesses impacted by the floods.
To date, 505 preliminary applications have been submitted since August 3. Among the completed and successfully submitted applications (351):
- 70% are currently being reviewed or in the queue to be reviewed
- 30% are completed and approved for a BEGAP grant
- A total of $397,136 has been paid out to date, with an average award amount of $13,694
- Total damage reported within applications is $134 million, with $108 million in net damage (damage uncovered by insurance or other grants)
Agency of Commerce and Community Development Secretary Lindsay Kurrle: “If you are applying for a BEGAP grant, take the time to submit a complete and thorough application to avoid delays. We know many business owners are still trying to get their documentation together. Our message to those people is that you haven’t missed the window to access these grants. There is funding still available, and a complete application will get you the financial support you need faster.”
To help business owners who are having trouble getting contractor estimates for repairs to their businesses, the Vermont Builders and Remodelers Association along with other contractor membership organizations collaborated with the Agency of Commerce and Community Development (ACCD) to compile a list of general estimates for the purpose of supporting BEGAP grant applicants.
The list includes several types of repairs from installing drywall and flooring to plumbing and heating work. If necessary, the figures on this list can be used in lieu of an estimate from an actual contractor.
To aid in ensuring grant applications are reviewed, approved, and paid as quickly as possible DED has enlisted the help of more than a dozen state employees from other agencies including the Vermont Agency of Agriculture, Food and Markets, the Vermont Agency of Administration, the Vermont Department of Financial Regulation, the Vermont Department of Taxes, and the Vermont Agency of Digital Services. These extra employees are helping in processing applications, awarding grants, and distributing funds.
Categories: Press Release