Local Investment Proposals Sought by State Treasurer’s Office
MONTPELIER, Vt.—Vermont local investment proposals are now being accepted by the State Treasurer’s Office. The Local Investment Advisory Committee or LIAC is soliciting financing proposals in the areas of housing and energy, transportation, municipal infrastructure, and financing post-secondary education.
“I am pleased to announce that we have up to $7 million for the second round of our Solicitation for Local Investment Financing Proposals,” said State Treasurer Beth Pearce. “During the first round of proposal solicitations, $3.75 million was obligated for housing, energy, and neighborhood revitalization projects. We look forward to working with interested parties to put our Vermont dollars to work, while also spurring local economic growth.”
The funding of local investments is part of an ongoing process managed through the State Treasurer’s Office. In 2014, the Vermont State Legislature passed a law that established a Local Investment Advisory Committee to provide input to the State Treasurer. The local investments initiative aims to invest a portion of Vermont’s operating funds in Vermont communities, while earning a competitive rate of return. The initiative redirects funds that were invested primarily in out-of-state government agency securities and money market accounts at large financial institutions to local investments. The Treasurer’s office has committed approximately $30 million since 2014 in energy improvements in residential housing, commercial energy projects, and in the rehabilitation of State office buildings for energy efficiencies.
Municipalities, school districts, social service providers, State agencies and authorities, regional planning commissions and similar organizations are eligible to apply. Proposals are being accepted between December 5, 2015 and May 13, 2016. Using a rolling application process, proposals will be considered when submitted and funds obligated prior to the May closing date.
To view the official solicitation proposal go to: Vermont Treasurer.gov. All proposals and questions should be directed to Tim Lueders-Dumont, State Treasurer’s Office. He may be contacted via email at firstname.lastname@example.org or by calling (802) 828-1451.