State Infrastructure Bank Program

The State Infrastructure Bank (SIB) program, operated by the Vermont Economic Development Authority in conjunction with the Vermont Agency of Transportation and the Federal Highway Administration, is available to assist in the construction or reconstruction of highways, roads and bridges, as well as certain facilities related to rail transit.

Eligibility

  • Municipalities, regional development corporations or political subdivisions of the state; and
  • Private sector companies that have entered into a contract with a public authority to carry out a qualified project.

Use of Proceeds

  • Construction or reconstruction of highways, roads and bridges; and
  • Construction of certain rail transit facilities.

Loan Rates and Terms

  • 3% fixed for loans to private sector borrowers;
  • 1% fixed for loans to municipal-type borrowers;
  • Loan term may not exceed 30 years with repayment commencing no later than five years after completion of project; and
  • Required borrower equity contribution to project is 10-20%.

Fees

  • 2% commitment fee;
  • $50 credit report fee (if applicable);
  • $18 flood insurance certificate (if applicable);
  • Appraisal reimbursement (if applicable);
  • Document recording/discharge fees; and
  • No application fee.

Application Process

  • All loan decisions are made by the SIB Board of Directors;
  • All federal and state environmental permits and other approvals must be obtained for SIB projects;
  • Applicants are advised to discuss their proposed project with SIB Staff prior to submitting the application; and
  • Vermont State Infrastructure Bank applications may be obtained from the VEDA office.

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