Vermont Statutes Title 24. Municipal and County Government, § 2797. Property Assessment Fund; brownfields and redevelopment; competitive program

(a) There is created a Property Assessment Fund pursuant to 32 V.S.A. chapter 7, subchapter 5 to be administered by the Department of Housing and Community Development for the purpose of providing financing, on a competitive basis, to municipalities that demonstrate a financial need in order to determine and evaluate a full assessment of the extent and the cost of remediation of property, or in the case of an existing building, an assessment that supports a clear plan, including the associated costs of renovation to bring the building into compliance with State and local building codes.

(b) The Fund shall be composed of the following:

(c) A municipality deemed financially eligible may apply to the fund for the assessment of property and existing buildings proposed for redevelopment, provided the Department finds that the property or building:

(d) The Department shall distribute funds under this section in a manner that provides funding for assessment projects of various sizes in as many geographical areas of the State as possible and may require matching funds from the municipality in which an assessment project is conducted.