reglab/housing_qa huggingface dataset:
10 V.S.A. § 261
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 261. Additional powers

§ 261. Additional powers|In addition to powers enumerated elsewhere in this chapter, the Authority may:  (1) Make loans secured by mortgages, which may be subordinate to one or more prior mortgages, upon application by the proposed mortgagor, who may be a private corporation, partnership, person, or municipality financing an eligible project described in subdivision 212(6) of this title, upon such terms as the Authority may prescribe, for the purpose of financing the establishment or expansion of eligible facilities. Such loans shall be made from the Vermont Jobs Fund established under subchapter 3 of this chapter. The Authority may provide for the repayment and redeposit of such loans in the manner provided hereinafter. (2) Take title by foreclosure to any eligible facility where such acquisition is necessary to protect any loan previously made by the Authority, pay all costs arising out of such foreclosure and acquisition from monies held in the Vermont Jobs Fund, and sell, transfer and convey any such eligible facility to any responsible buyer. If the sale, transfer, and conveyance cannot be effected with reasonable promptness, the Authority may, in order to minimize financial losses and sustain employment, lease the eligible facility to a responsible tenant or tenants. (3) Purchase prior mortgages and make payments on prior mortgages on any eligible facility where the purchase or payment is necessary to protect any loan previously made by the Authority. In addition, the Authority may sell, transfer, convey and assign any such prior mortgage. Monies used by the Authority in the purchase of any prior mortgages, or any payments thereon, shall be withdrawn from the Vermont Jobs Fund, and any monies derived from the sale of any prior mortgages shall be deposited by the Authority in the Vermont Jobs Fund. (4) Purchase and own personal property for the purpose of leasing such personal property under financing leases, which leases transfer the ownership of leased personal property to each lessee following the payment of all required lease payments as specified in each lease agreement. (5) Execute lease agreements pursuant to subdivision (4) of this section. (6) Provide loans and assistance under this subchapter for the planning, development, or improvement of an industrial park or an eligible project within an industrial park. (Added 1973, No. 197, (Adj. Sess.), § 1; amended 1975, No. 187 (Adj. Sess.), § 4; 1993, No. 89, § 3, eff. June 15, 1993; 1995, No. 46, § 10, eff. April 20, 1995; 2013, No. 199 (Adj. Sess.), § 36; 2015, No. 41, § 23, eff. June 1, 2015.)
10 V.S.A. § 264
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 264. Accelerated repayment provisions

§ 264. Accelerated repayment provisions|Any direct mortgage loan made on or after July 1, 1988 under this subchapter shall be conditioned upon the maintenance of a reasonable level of employment at the facility or facilities owned by the mortgagor and pledged as security for the loan. For the purposes of this section, a reasonable level of employment shall be deemed not to have been maintained whenever a mortgagor employing 50 or more employees at such facility or facilities permanently transfers, within any three-year period, 50 percent or more of those employees or employment positions to any out-of-state facility. Upon breach of this condition, the Authority may declare all principal and interest of the mortgage loan immediately due and payable and may commence foreclosure on any property held as security for the mortgage loan or take any other lawful steps to obtain payment. (Added 1987, No. 203 (Adj. Sess.), § 4, eff. May 27, 1988.)
10 V.S.A. § 272
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 272. Definitions

§ 272. Definitions|As used in this subchapter:  (1) "Authority" means the Vermont Economic Development Authority. (2) "Family farmer" means a person who is a resident of this State and who is, or will become, engaged in farming on his or her own behalf managing and operating the farm on a full-time basis and whose net worth (including his or her dependents and spouse) does not exceed $150,000.00. (3) "Farming" shall mean the cultivation of land or other uses of land for the production of food, fiber, horticultural, orchard, or forest crops, or the raising of livestock, poultry, equines, fish, or bees. Farming also includes the storage, preparation, retail sale, and transportation of agricultural commodities accessory to the cultivation or use of such land. (4) "Vermont Rehabilitation Corporation" means the nonprofit quasi-public corporation for which articles of association have been filed with the Secretary of State on April 26, 1935. (Added 1985, No. 81, § 1; amended 1993, No. 89, § 3(a), eff. June 15, 1993.)
10 V.S.A. § 273
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 273. Farmers loan program; eligibility; application

§ 273. Farmers loan program; eligibility; application|(a) The Vermont Rehabilitation Corporation shall establish a family farm assistance loan program to: strengthen existing farms, encourage diversification and innovative farming techniques, increase energy efficiency and reduce energy consumption, and assist beginning farmers to start new farms, provided that beginning farmers will not produce commodities that are already in surplus.(b) In order to be eligible an applicant shall be:  (1) a family farmer who is a resident of this State; (2) an owner or prospective purchaser of agricultural land in the State or depreciable farm machinery, equipment, or livestock to be used in the State; (3) a person of sufficient education, training, or experience in the type of farming for which the applicant requests the loan; (4) an operator or proposed operator of a farm for whom the loan reduces investment costs to an extent that offers him or her a reasonable chance to succeed; (5) a credit-worthy person under such standards as the Vermont Rehabilitation Corporation may, in its discretion, establish; and (6) in compliance with the requirements of subdivisions 262(2) through (4) and subdivisions (6) through (10) of this title. For purposes of this subchapter, the terms "eligible facility" and "facility" as used in section 262 shall be defined to include all farming operations.   (c) Applicants for the family farmer assistance loan program under this subchapter shall apply to the Vermont Rehabilitation Corporation, which shall review proposed farm projects, and the applicant's qualifications and grant loans under the provisions of this subchapter, subject to such reasonable terms and conditions as the Vermont Rehabilitation Corporation deems appropriate.(d) Any person who obtains a loan under this subchapter shall not be eligible for loan assistance under subchapter 5 of this chapter during the period in which the subchapter 6 loan is outstanding.(e) All meetings of the Vermont Rehabilitation Corporation board of directors that concern the family farm assistance program shall be subject to 1 V.S.A. chapter 5, subchapter 5. (Added 1985, No. 81, § 1; amended 1993, No. 89, § 3(b), eff. June 15, 1993.)
10 V.S.A. § 274
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 274. Loan terms and conditions

§ 274. Loan terms and conditions|(a) Within the limits of funds available, the Vermont Rehabilitation Corporation may make loans to eligible applicants upon such terms and conditions as may reasonably be expected to be fulfilled by the applicant. In no event shall the total principal obligation of all Vermont Economic Development authority loans granted under this subchapter to any family farmer exceed $50,000.00.(b) The Vermont Rehabilitation Corporation shall require the farmer to execute a note, loan agreement, security agreement, mortgage, or other evidence of indebtedness in favor of the Authority sufficient to protect reasonably the security of the mortgage or secured loan. All payments shall be made to the Authority for the use of section 234 of this title. The Vermont Economic Development Authority shall service all loans made by the Vermont Rehabilitation Corporation under this subchapter. In the event of default by a loan recipient under this subchapter, the Authority shall consult with the Vermont Rehabilitation Corporation prior to commencing any collection or foreclosure action. (Added 1985, No. 81, § 1; amended 1993, No. 89, § 3(a), eff. June 15, 1993.)
10 V.S.A. § 275
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 275. Funding

§ 275. Funding|In fiscal year 1986, the Vermont Rehabilitation Corporation, in its discretion, may loan up to $400,000.00 of the Vermont Jobs Fund established by section 234 of this title for the purposes of this subchapter. Depending on its assessment of the progress of the family farm assistance program, the General Assembly may adjust the loan limits from those established for fiscal year 1986 and may establish appropriate loan limits in fiscal years 1987 and 1988. (Added 1985, No. 81, § 1.)
10 V.S.A. § 279c
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 279c. Vermont Export Finance Program

§ 279c. Vermont Export Finance Program|(a) The Authority may, directly or indirectly, extend export finance to Vermont businesses, or to non-Vermont businesses where a substantial beneficiary of the export finance would be a Vermont business. The Authority may only directly extend export finance where the transaction will be guaranteed or insured against nonpayment by the Export-Import Bank of the United States, the U.S. Small Business Administration, or a comparable source of risk mitigation. Such export finance may include extending working capital loans to finance the pre-export costs of manufacturing, preparing, or accumulating products destined for export by overseas importers, the post-export costs of holding export receivables, as well as purchasing export receivables that are payable by overseas importers.(b) The Authority may use any cash on hand in the Vermont Jobs Fund established under subchapter 3 of this chapter, any appropriations made by the General Assembly for this purpose, loans from banks, export finance specialty lenders, the Treasurer, or other sources in order to provide funds for lending under this subchapter. The Authority may pledge its assets as security for such loans.(c) The Authority may sell any loans or participations in loans made under this subchapter to financial institutions.(d) The Authority may extend export finance on such terms and conditions as it deems appropriate. Export finance directly extended by the Authority shall conform to the terms and conditions of the applicable risk mitigation offered by the Export-Import Bank of the United States, the U.S. Small Business Administration, or a comparable source of risk mitigation.(e) Any excess of revenues over expenses derived from this program shall be deposited in the development fund. (Added 1995, No. 46, § 13, eff. April 20, 1995.)
10 V.S.A. § 280
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280. Public financing policy

§ 280. Public financing policy|(a) It is policy of the State to engage in publicly supported financing activities that carry out the economic development policies of the State, including the following policies:  (1) Vermont should encourage enterprises that maximize job opportunities for Vermonters, produce a diversity of goods and services, and support sustainable development in the Vermont economy. (2) Vermont should encourage entrepreneurial investments by the private sector in businesses that promote a sustainable economy and that are compatible with Vermont's economic, social, and environmental values. (3) Vermont should help its citizens start, maintain, and expand enterprises that:  (A) make use of the traditional skills of Vermont's people while developing new capabilities necessary to compete in a changing economic environment; and (B) produce value-added products or services, thereby maximizing reinvestment within Vermont.    (b) As used in this chapter, the term "sustainable development" means meeting the needs of the present without compromising the ability of future generations to meet their own needs. (Added 1995, No. 46, § 14, eff. April 20, 1995.)
10 V.S.A. § 280a
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280a. Eligible projects; authorized financing programs

§ 280a. Eligible projects; authorized financing programs|(a) The Authority may develop, modify, and implement any existing or new financing program, provided that any specific project that benefits from such program shall meet the criteria contained in the Vermont Sustainable Jobs Strategy adopted under section 280b of this title, and provided further that the program shall meet the criteria contained in the Vermont Sustainable Jobs Strategy adopted under section 280b of this title. These programs may include:  (1) the Mortgage Insurance Program, administered under chapter 12, subchapter 2 of this title; (2) the Loans to Local Development Corporations Program, administered under chapter 12, subchapter 3 of this title; (3) the Industrial Revenue Bond Program, administered under chapter 12, subchapter 4 of this title; (4) the Direct Loan Program, administered under chapter 12, subchapter 5 of this title; (5) the SBA 504 Certified Development Company and Small Business Loan Programs of the Authority's Vermont 504 Corporation, administered by the Authority under subdivision 216(13) of this title; (6) the Small Business Development Corporation Program, administered by the Authority under subdivision 216(14) of this title; (7) one or more programs targeting economically distressed regions of the State, and specifically including the Authority to develop a program to finance or refinance up to 100 percent of the existing assets or debts of a health, recreation, and fitness organization that is exempt under Section 501(c)(3) of the Internal Revenue Code, the income of which is entirely used for its exempt purpose, that owns and operates a recreation facility located in a distressed region of the State; (8) an Export Finance Program, administered by the Authority under chapter 12, subchapter 9 of this title; (9) a Vermont Sustainable Energy Loan Fund and any programs created thereunder, administered by the Authority under subchapter 13 of this chapter; (10) any other program implemented after the adoption of the sustainable jobs strategy pursuant to section 280b of this title designed to meet Vermont's need for sustainable economic development; (11) a program that would award grants made to eligible and qualified recipients as directed by the Agency of Agriculture, Food and Markets or the Agency of Natural Resources for the purpose of funding water quality initiatives approved by the agencies, provided that the maximum amount of grants awarded by the Authority pursuant to the program shall not exceed $1,340,238.00 in the aggregate.   (b) This section shall not apply to the Job Start Program authorized by chapter 12, subchapter 7 of this title, and the agricultural finance programs authorized by chapter 16 of this title. (Added 1995, No. 46, § 14; amended 2003, No. 122 (Adj. Sess.), § 281, eff. June 10, 2004; 2011, No. 63, § E.800; 2013, No. 87, § 5, eff. June 17, 2013; 2015, No. 39, § 20.)
10 V.S.A. § 280b
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280b. The Vermont sustainable jobs strategy

§ 280b. The Vermont sustainable jobs strategy|(a) The Governor, with the advice of the Secretary of Commerce and Community Development and the Authority, shall adopt a Vermont sustainable jobs strategy for the State, in accordance with the provisions of this section.(b)(1) The Vermont sustainable jobs strategy shall contain the criteria upon which the Authority shall develop, modify, and implement its public financing programs, and the criteria for determining whether investments should be made in an eligible project. Such criteria shall include a requirement that, before making any investment or other financial commitment, the Authority shall determine that the proposed project is of public use and benefit and is without unreasonable risk of loss to the Authority.  (2) In adopting the Vermont sustainable jobs strategy, the Governor shall consider:  (A) the policies established in section 280 of this title; and (B) the economic policy and economic development plan of the State, as developed by the Economic Progress Council under subchapter 3 of chapter 29 of this title.    (c)(1) Before adopting the Vermont sustainable jobs strategy, the Governor shall direct the Authority and the Secretary of Commerce and Community Development to solicit information and recommendations from the people and businesses of the State.  (2) After soliciting information and recommendations, the Authority and the Secretary shall jointly develop a proposed Vermont sustainable jobs strategy. In developing a proposed strategy, the Authority and the Secretary shall consider how best to integrate Vermont's economic, social, and environmental values into a Vermont sustainable jobs strategy. The Authority and the Secretary shall jointly present their proposed strategy to the House Committee on Commerce and the Senate Committee on Economic Development, Housing and General Affairs meeting in joint hearing. (3) After legislative presentation, the Authority and the Secretary may amend the proposed strategy, and shall present the proposed strategy as amended to the Governor. The Governor may adopt the proposed strategy, or may return the proposed strategy to the Authority and the Secretary for further development and legislative presentation. After adoption of the Vermont sustainable jobs strategy, any amendments to the strategy may be adopted by the Governor in accordance with the process established by this section. (Added 1995, No. 46, § 14, eff. April 20, 1995; amended 1995, No. 190 (Adj. Sess.), § 1(b).)
10 V.S.A. § 280f
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280f. Applicability of general provisions

§ 280f. Applicability of general provisions|The definitions under section 212 of this chapter shall not apply to this subchapter. (Added 1997, No. 43, § 1.)
10 V.S.A. § 280g
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280g. State Infrastructure Bank Program; duties; powers

§ 280g. State Infrastructure Bank Program; duties; powers|(a) The Board, in addition to any other powers and duties conferred or imposed on it by this chapter or any other law, shall have the following powers and duties:  (1) to apply for, receive, administer, and comply with the conditions and requirements respecting any grant, gift, or appropriation of property, services, or monies; (2) to make loans to or enter into leases with qualified borrowers to finance the costs of qualified projects, to acquire, hold, and sell borrower obligations evidencing the loans at such prices and in such manner as the Board shall deem advisable, and to pledge borrower obligations to secure bonds issued pursuant to this subchapter; (3) to enter into guarantees secured solely by, or purchase insurance or other credit enhancement through, amounts on deposit in the Program; (4) to enter into contracts, arrangements, and agreements to provide any other form of financial assistance through amounts on deposit in the Program that the Board may consider appropriate; (5) to enter into contracts, arrangements, and agreements with other persons and execute and deliver all trust agreements, loan agreements, and other instruments necessary or convenient to the exercise of the powers granted in this subchapter; (6) to enter into an agreement, contract, or other arrangement directly or indirectly with the Agency or Authority or with a private enterprise in furtherance of and in accordance with the provisions of ISTEA or the NHS Act, as applicable; (7) to obtain insurance necessary or convenient to the exercise of the power granted in this subchapter; (8) to engage accounting, management, legal, financial, consulting, and other professional services necessary to the conduct of the Program; (9) to distribute the benefits conferred by this subchapter throughout the State. (10) [Repealed.]   (b) In its administration of the Program as provided in this subchapter, the Program shall comply with applicable federal requirements under ISTEA and the NHS Act and other applicable federal programs. The Program shall not be authorized or empowered to be or to constitute a bank, trust company, or licensed lender under the jurisdiction or under the control of the Department of Financial Regulation or the Comptroller of the Currency or the Treasury Department of the United States, or to be or constitute a bank, banker, or dealer in securities within the meaning of, or subject to the provisions of, any securities, securities exchange, or securities dealers' law of the United States or Vermont.(c) The Agency shall provide technical assistance to either the Board, Program, or the Vermont Economic Development Authority to ensure compliance pursuant to subsection (b) of this section.(d) [Repealed.]  (Added 1997, No. 43, § 1; amended 1997, No. 144 (Adj. Sess.), § 20; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012; 2011, No. 153 (Adj. Sess.), § 28.)
10 V.S.A. § 280h
2021 Vermont Statutes|Title 10 - Conservation and Development|Chapter 12 - Vermont Economic Development Authority|§ 280h. Receipt and administration of Program funds

§ 280h. Receipt and administration of Program funds|(a) The Authority shall receive in trust, hold, administer, and disburse in and from the Program exclusively for the benefit of the beneficiaries the following monies:  (1) federal grants and awards or other federal assistance received by the Agency or the State and eligible for deposit therein under applicable federal law; (2) amounts appropriated by the State to the Program for purposes of the Program; (3) loan and lease payments and other payments received by the Program in respect of providing financial assistance to qualified borrowers; (4) investment earnings on monies in the Program; and (5) any other amounts required to be credited to the Program by any law or by any resolution, loan agreement, or trust agreement or which the State or the Secretary shall otherwise determine to deposit therein.   (b) Application of amounts in the Program shall be subject to the requirements of this subchapter and the provisions of any applicable loan agreement or trust agreement and, with respect to amounts held pursuant to grants or awards made under 23 U.S.C. § 101 et seq., or 49 U.S.C. § 5301 et seq., or any other federal law, to the applicable requirements of federal law. The Authority shall be the custodian of the Fund as provided in this subchapter, and, subject to any applicable trust agreement, the Authority is authorized to invest monies held in the Program in such investments as may be legal investments for funds of the State, subject, however, with respect to funds deposited in the Program pursuant to section 350 of the NHS Act, to the provisions of section 350(e)(3) of the NHS Act. (Added 1997, No. 43, § 1.)