The Downtown Development Act (24 V.S.A. chapter 76A) created the Downtown Transportation and Related Capital Improvement Fund (Downtown Fund). Any municipality with a designated downtown district may apply to the Downtown Development Board (Board) for financial assistance from this fund to finance eligible transportation-related capital improvements in support of economic development, within or serving the downtown district. Grants may be made, up to $75,000 and 25% of total project costs. An award may also be made as a loan or loan guarantee.