DAR File No. 28309

Community and Economic Development, Business and Economic Development

R184-1

Community and Economic Development Project Fund Application Procedures

NOTICE OF PROPOSED RULE

DAR File No.: 28309
Filed: 10/31/2005, 11:59
Received by: NL

RULE ANALYSIS

Purpose of the rule or reason for the change:

The rule is no longer necessary as information contained in the rule has been incorporated into policy per H.B. 318 passed in 2005 session. (DAR NOTE: H.B. 318 (2005) is found at UT L 2005 Ch 148, and was effective 07/01/2005.)

Summary of the rule or change:

This rule is repealed in its entirety.

State statutory or constitutional authorization for this rule:

Sections 9-2-1504 and 9-2-1501 et seq.

Anticipated cost or savings to:

the state budget:

The repeal of this rule does not alter the operations or functions of the Office and does not result in either a cost or savings to the state. (DAR NOTE: The authority for this program has been transferred to the Governor's Office of Business Development. The program will be administered by policy rather than rule but the program will remain. Thus, there is neither a cost nor savings.)

local governments:

The repeal of this rule does not result in either a cost or savings to local government.

other persons:

The repeal of this rule does not result in either a cost or savings to other persons.

Compliance costs for affected persons:

The repeal of this rule does not result in either a cost or savings to affected persons.

Comments by the department head on the fiscal impact the rule may have on businesses:

The changes do not result in either a cost or savings to businesses, the process will be the same. Martin Frey, Director

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Direct questions regarding this rule to:

Martin Frey at the above address, by phone at 801-538-8821, by FAX at 801-538-8888, or by Internet E-mail at mfrey@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

12/15/2005

This rule may become effective on:

12/16/2005

Authorized by:

Martin Frey, Managing Director, Economic Development

RULE TEXT

R184. Community and Economic Development, Business and Economic Development.

[R184-1. Community and Economic Development Project Fund Application Procedures.

R184-1-1. Authority and Purpose.

(1) This rule is authorized under Section 9-2-1504.

(2) This rule prescribes application procedures to be followed in seeking funds from the Community and Economic Development Project Fund created by Section 9-2-1501, et seq.

R184-1-2. Definitions.

(1) Terms used in this Rule are defined in Section 9-2-1502.

R184-1-3. Criteria for Awarding Loans and Grants.

(1) Loans and grants are approved by the Industrial Assistance Fund (IAF) Committee under the direction of the Board of Business and Economic Development by mid-December each year based upon greatest local impact, local need, and highest and best use of funds.

(2) Applicants must be local governments or nonprofit economic development organizations.

(3) Applicants must provide written evidence of matching funds in an amount at least equal to the amount awarded.

(4) Twenty-five percent of funds awarded from the Fund must be loans, and twenty-five must be grants. The balance of the funds must be awarded as either loans or grants as determined by IAF Committee.

R184-1-4. Application Procedures.

(1) The Administrator shall give public notice of the due date for receipt of applications at least 90 days in advance.

(2) Applications must be written and on a form provided by the Administrator.

(3) Applications must contain at least the following information for evaluation:

(a) Submit a detailed description of the proposed project; in addition include:

(i) A description of how the proposed project meets the fund's goal to help improve the economic development viability of the community.

(ii) A list of the local economic development impacts.

(iii) A statement of what specific needs the project will meet and how.

(iv) A statement describing why funding the project is this the highest and best use of funds.

(b) Request:

(i) A statement of the amount requested.

(ii) A statement whether a loan or grant is sought.

(iii) A statement showing source, amount and commitment of matching funds.

(c) A statement of the targeted group's specific needs:

(i) A statement describing the applicant's community and its needs.

(ii) A description of how the proposed project will make a difference in applicant's community.

(iii) Identification of applicant's 'Enterprise Zone'.

(d) A list of important contributions and community support for the project.

(e) An explanation of why the proposed project will be a long-term success.

(f) An outline of additional project-related opportunities, including:

(i) How management strengths are encouraged, and

(ii) How the proposed project will affect private ownership of an enterprise.

(g) Explain how the proposed project will be, or currently is, integrated into local economic development plans.

(h) Submit a formal letter of endorsement for the project by the official applicant (local government or nonprofit economic development organization). Include a statement of describing any relationships between the official applicant and any other organization or business involved in this proposal.

(i) Submit the completed application and nine copies by the advertised deadline to the Administrator, Community Economic Development Project Fund, 324 South State Street, Suite 500, Salt Lake City, Utah, 84111.

KEY: grants, project fund*

October 16, 1996

Notice of Continuation October 10, 2001

9-2-1504

9-2-1501, et seq.]

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For questions regarding the content or application of this rule, please contact Martin Frey at the above address, by phone at 801-538-8821, by FAX at 801-538-8888, or by Internet E-mail at mfrey@utah.gov

For questions about the rulemaking process, please contact the Division of Administrative Rules (801-538-3764). Please Note: The Division of Administrative Rules is NOT able to answer questions about the content or application of these administrative rules.