Compilation of Rules and Regulations of the State of Georgia
Department 110 - RULES OF GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS
Chapter 110-25 - THE LIFE SCIENCES FACILITIES FUND LOAN PROGRAM DESCRIPTION
Subject 110-25-1 - THE LIFE SCIENCES FACILITIES FUND LOAN PROGRAM DESCRIPTION
Rule 110-25-1-.08 - Threshold Requirements
Current through Rules and Regulations filed through March 20, 2024
(Application must meet all threshold requirements in order to be considered):
(1) The application is from an eligible applicant;
(2) The proposed sub-recipient business is a life-sciences company;
(3) A letter of support and recommendation has been issued by a state agency or organization whose statutory or organizational powers and duties include community and economic development or the enhancement of Georgia's technology sectors, stating that the proposed project needs the Loan Fund's loan assistance and will (if funded) develop, promote, and/or retain trade, commerce, industry and employment opportunities within the state's strategic industries and promote the general welfare of the state;
(4) The proposed use of funds is for eligible activities and will be carried out in a manner consistent with the state constitution, state law and in accordance with the applicant's and sub-recipient's enabling legislation and authority or corporate charter; and
(5) The proposed activities are consistent with local and regional plans developed under the provisions of the Georgia Planning Act and the Service Delivery Strategies developed in accordance with O.C.G.A. 36-70-1et seq.
O.C.G.A. Sec. 50-8-8.
