Current through all regulations passed and filed through September 16, 2024
With respect to All Ohio future fund
funds used for site development purposes, the following applies:
(A)
Definitions
(1)
"Agency" means an
agency responsible for securing the controlling board release of appropriation
from the all Ohio future fund for purposes consistent with section
126.62 of the Revised
Code.
(2)
"Eligible applicant" means counties, transportation
improvement districts, municipalities, townships, port authorities, community
improvement corporations, conservancy and park districts or other similar park
authorities, land reutilization corporations, nonprofit organizations, and
organizations for profit willing to develop project-ready sites to improve the
economic welfare of the people of the state of Ohio.
(3)
"Eligible costs"
are those costs associated with infrastructure including public roadwork,
water, wastewater, design and engineering, demolition, wetland mitigation,
utility connection, and other one-time site enhancement.
(4)
"End user" means
an entity or business operation with a new project to be located and have
continuing operations in Ohio.
(B)
Awards from the
all Ohio future fund may be made either through loans or grants, as determined
in the sole discretion of the agency, in consultation with the office of budget
and management.
(C)
An eligible applicant is to submit the application for
financial assistance from the all Ohio future fund to the agency in the manner
set forth by the agency, and include all of the following information:
(1)
A demonstration
of the applicant's ability to undertake and successfully oversee the
project;
(2)
Proof that both the county and local government(s) in
which the project would be located support the project, evidenced in writing
signed by an official with authority to bind the applicable
body;
(3)
For eligible applicants that are private entities, a
letter of commitment or similar document signed by a unit of government in
which the project would be located, demonstrating intent to work in
collaboration with the applicant on the project. Collaboration may include, but
is not limited to, changing or meeting zoning requirements, achieving a
proposed timeline, and developing incentives to attract an
end-user.
(4)
A clear definition of the scope of the project that
includes:
(a)
An
accounting of eligible costs and total project costs;
(b)
Project site
capacity targets;
(c)
Either how the site will attract an end-user and the
type of end-user the site will attract, or an end-user that has been identified
and who is likely to use the site; and
(d)
Any other
information required by the agency.
(D)
The agency will
evaluate applications and award loans or grants from the fund. The agency is to
consider:
(1)
The strength of expected economic impact of a project
site;
(2)
The local community's ability to support the project
site;
(3)
The quality of expected jobs created at the project
site;
(4)
The importance of the project site to the region's
economic development;
(5)
Public ownership and local control of land to be
improved; and
(6)
Any other factors deemed appropriate.
(E)
The
agency may recapture funds disbursed from the all Ohio future fund if an
end-user is not under agreement to utilize the project site within five years
of disbursement of the award.
(F)
The agency is to
include a requirement in the award agreement that the recipient submit periodic
reporting (as determined by the agency) to the agency describing the status of
the project. The agency is to submit an annual report of the funded projects
statuses to the office of budget and management.
(G)
The repayment of
a loan from the all Ohio future fund will be adequately secured by a mortgage,
assignment, pledge, lien, or other interest in property provided at such level
of priority as the agency may require.
