Compilation of Rules and Regulations of the State of Georgia
Department 413 - GRANTS OF THE ONEGEORGIA AUTHORITY
Chapter 413-5
Subject 413-5-1 - STRATEGIC INDUSTRIES LOAN FUND
Rule 413-5-1-.10 - Awarding of Funds

Universal Citation: GA Rules and Regs r 413-5-1-.10

Current through Rules and Regulations filed through September 23, 2024

(1) Once selected for funding, awarded funds will be made available by the OneGeorgia Authority through an award agreement incorporating by reference the approved final application and adding general conditions plus special conditions as necessary. Such special conditions shall include the terms and conditions of the loan to the sub-recipient business. As part of the award conditions, recipients must file a report on the impact and performance of the project, in a format prescribed by the OneGeorgia Authority.

(2) Because of the limited amount of funds available, the agency may also award an amount less than the amount requested in the application. Applicants will have thirty (30) days from the date of award to accept any special conditions and/or the reduced award amount. If the applicant fails to accept the special conditions or lower award amount within the required period, the OneGeorgia Authority may unilaterally withdraw the award.

(3) The OneGeorgia Authority will prepare loan documents in conjunction with the recipient's local attorney.

(4) As part of the award conditions, the recipient must provide progress reports regarding the project as required by the OneGeorgia Authority.

O.C.G.A. Sec. 50-34-1et seq.

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