ECONOMIC - FY 2025 EDA Disaster Supplemental Funding

ECONOMIC - FY 2025 EDA Disaster Supplemental Funding

Helps communities and regions plan and implement long-term economic recovery strategies. Two funding pathways remain:

Details

• Funding Entity: US Economic Development Administration
• Funding Type: Grant
• Funding Range: Readiness $250,000 to $500,000; Implementation $100,000 to $5 million for non-construction and $2 to $20 million for construction
• Match Required: 20% of eligible costs; EDA can reduce match in certain circumstances, including whether the applicant has exhausted its effective taxing or borrowing capacity or meets other thresholds for elevated need.

Notes

Supports recovery in areas where a Presidential disaster declaration was issued in calendar years 2023 and 2024. All counties in Vermont are eligible for this funding.Considerable emphasis is placed on private sector buy-in and investment as a critical indicator of project viability. Jobs and businesses created, retained, or lost are a key indicator of success.Projects that are primarily housing, community amenities (ex. pools and recreation centers), and general governmental functions (ex. police and fire) are ineligible.Projects funded must be consistent with the region’s current CEDS. Find Vermont CEDS at https://accd.vermont.gov/economic-development/major-initiatives/ceds.Projects funded under this funding opportunity are not subject to the Build America, Buy America Act.Prospective applicants should contact Vermont’s EDA representative, Katherine Trapani at 215-514-6572 or ktrapani@eda.gov to discuss their project prior to applying.