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Mon September 24, 2012
Vermont to Expedite Payments to Towns
The state of Vermont is notifying towns still struggling financially from Tropical Storm Irene repairs that it will give out payments early while those towns await federal reimbursement for repairs.
The accelerated payments are for town highways and payment-in-lieu-of taxes, which are normally given out in October; current use payments, which are typically sent out in November; and state aid to education payments, which are normally dispersed in December.
State Treasurer Beth Pearce said Monday that the accelerated payments will help municipalities with any cash flow problems they are experiencing due to repair costs.
To be eligible, towns must request the payments and document the amount of reimbursed repairs that were made after Irene and last year's spring storms.
Towns have until Dec. 10 to request the funding.
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