Local Incentives & Financing for Thriving (L.I.F.T.)
Eco Dev Program
LIFT is designed to encourage and spur commercial growth, create a strong local economy and provide employment opportunities in Rutland City.
About LIFT
LIFT was created as a way of utilizing the City’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.
What We Provide
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.
For BIAP or LIFT information and application click below, or contact Sean ([email protected]) or Barbara ([email protected]) for more information!
In an effort to mitigate the impacts to businesses from federally or locally declared disasters, BIAP also offers an Emergency Loan provision. See below for information.
