Effective: January 4, 2006
Latest Legislation: Senate Bill 236 - 126th General Assembly
(A) A project shall meet the following requirements in order to be considered for a grant under the annual competitive process:
(1) The application for the grant is made by an eligible applicant.
(2) The project for which the application is made is an eligible project.
(3) The eligible applicant commits to all the following:
(a) To use the grant to pay only allowable costs for the eligible project;
(b) Not to use the grant to fund more than seventy-five per cent of the total cost of the eligible project;
(c) Not to use more than ten per cent of the grant amount to pay the costs of professional services under the eligible project.
(4) The grant amount requested does not exceed five million dollars.
(5) The eligible applicant and the eligible project comply with any other criteria the director of development determines is necessary.
(B) A project shall meet the requirements described in divisions (A)(1) to (4) of this section in order to be considered for a grant under the discretionary process.