Compilation of Rules and Regulations of the State of Georgia
Department 413 - GRANTS OF THE ONEGEORGIA AUTHORITY
Chapter 413-3 - BUSINESS GROWTH FUND
Rule 413-3-.07 - Review of Grant Applications
Current through Rules and Regulations filed through September 23, 2024
All applications received from eligible applicants will be reviewed in a timely manner to determine the merit of the applications and the proposed use of funds.
1. Applications will be reviewed based upon enhancement of economic development opportunites. Projects will be judged by the extent to which they address the Authority's objectives which include but are not limited to:
* Increase in the numbers and/or types of jobs,
* Retention of quality jobs,
* Improvement in quality of jobs,
* Diversification of local or regional economy,
* Strengthening regional industry clusters,
* Increase in private capital investment and new investment opportunities,
* Increase in new business starts and entrepreneurial opportunities. Projects will be rated by criteria including but not limited to:
* Project readiness,
* Project feasibility,
* Degree of private investment or support,
* Degree of local financial commitment,
* Reasonableness of cost estimates,
* Strength of business plan,
* Rationale for equipment or process improvements,
* Impact on the state, regional and community economy and tax base,
* Value of property enhancements relative to state's economic development strategy,
* Consistency with local and regional development goals and objectives,
* Financing need (applicant demonstration that no other funds available to complete the project),
* Tier status.
2. All applications for funding from this program must provide written certification from the applicant, addressed to the OneGeorgia Authority, to the effect that the applicant is authorized under the laws of the State to carry out the project and activities that are the subject of the application, and that the proposed expenditure of funds is in accordance with all applicable legal requirements.
3. In its review of applications, the Authority may, at its discretion, consult with other individuals or agencies as appropriate for receiving advice.
4. The criteria in this rule are designed to assist the Authority in making its decision and only constitute minimum standards. Additional factors may be considered depending on the nature of particular projects and their relative merit compared to competing proposals, and depending on the availability of funding at the time of application.
5. The decision that the Authority makes shall be final and conclusive.
O.C.G.A. Sec. 50-34-1et seq.
