(a) Creation of Program. There is created a Regional Economic Development Grant Program to provide competitive grants for capital costs associated with the major maintenance, renovation, or planning related to the development of facilities reasonably expected to create job opportunities in Vermont communities. The Program is authorized to award matching grants of up to $25,000.00 per project. The required match shall be met through dollars raised and not through in-kind services. State investments made under this Program shall be consistent with the goals found in section 4302 of this title and local and regional plans adopted pursuant to this title and shall be coordinated with the efforts described in chapter 76A of this title.

(b) Creation of Committee. There is established a Regional Economic Development Grant Advisory Committee to administer and coordinate the Regional Economic Development Grant Program. The Committee shall include the Commissioner of Economic, Housing and Community Affairs or designee; the Commissioner of Buildings and General Services or designee; and two members of the Vermont General Assembly, one appointed by the Speaker of the House of Representatives and one appointed by the Senate Committee on Committees. The members of the Committee shall select a chair. (Added 2011, No. 104 (Adj. Sess.), § 27a, eff. May 7, 2012; amended 2013, No. 34, § 16.)