Economic Development Administration October 2008 – Federal Register Recent Federal Regulation Documents

The Economic Development Administration (``EDA'') published final regulations in the Federal Register on September 27, 2006. In March 2007, the Office of the Inspector General (``OIG'') published a report titled Aggressive EDA Leadership and Oversight Needed to Correct Persistent Problems in the RLF Program. In the time since the publication of this report, EDA has made significant improvements in the management and oversight of its revolving loan fund (``RLF'') program, including the issuance of written guidance that provides EDA staff with reasonable steps to help better ensure grantee compliance with RLF requirements. EDA is publishing this interim final rule (this ``IFR'') to synchronize the RLF regulations with that guidance. Additionally, EDA is publishing this IFR to make changes to certain definitions in the Trade Adjustment Assistance for Firms Program regulations set out in 13 CFR part 315. This IFR also provides notice of other substantive and non-substantive revisions made to the EDA regulations.

The Economic Development Administration (EDA) publishes this notice to introduce its new Application for Investment Assistance (Form ED-900). Previously, applicants were required to complete and submit a Pre-Application for Investment Assistance (Form ED-900P), followed by an Application for Investment Assistance (Form ED-900A) if EDA deemed that the proposed project merited further consideration. In addition, applicants were required to submit additional application forms to address EDA's programmatic requirements, depending on the type of funding assistance sought. The new Form ED-900 consolidates all EDA- specific requirements into a single application form. EDA will continue to require additional government-wide federal grant assistance forms from the Standard Form 424 family as part of the application package. This change, which is effective November 1, 2008, is prospective and will not affect previously submitted applications or require the submission of new application packages.