Rutland LIFT Program
City of Rutland
About the Grant
LIFT was created as a way of utilizing Rutland's enhanced solar tax revenue to support future business investment and job creation. The City holds half of all tax revenue generated from private solar development to fund this incentive program.
The LIFT program offers three different tiers: the $10,000 reimbursable grant for fixed infrastructure/renovations/upgrades, $5,000 grant and the HFCU up to $50,000 secured loan.
The $10,000 LIFT reimbursable grant is for fixed infrastructure renovations or upgrades to buildings within the City. It covers costs up to $10,000, or 50% of the renovation costs, whichever is less. There are also opportunities for $5,000 grants which may be used for more general costs for a City business.
A Revolving Loan Fund program, jointly funded and administered by Heritage Federal Credit Union, is available with secured loans of up to $50,000 available to qualifying businesses. The use of this funding is flexible and interest rates on the loans are below market rate.
Notes
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