Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 90 - STRATEGIC RESERVE FUND
Section 123-090-0040 - Director's Review
Universal Citation: OR Admin Rules 123-090-0040
Current through Register Vol. 63, No. 9, September 1, 2024
(1) Projects shall not be funded by the Fund unless the Director finds that:
(a) The Project is or will be supported by
the maximum feasible amount of local and private financial
participation;
(b) The Project will
produce significant long-term, regional or statewide economic
impacts;
(c) The Project will not
require continuing state subsidies;
(d) The Project does not supplant private
investment or duplicate or undermine similar efforts; and,
(e) The Project meets, or can be reasonably
expected to meet, at least one of the following criteria:
(A) The Project uses existing human and
natural resources to harness Oregon's economic comparative advantage;
(B) The Project promotes economic and
community recovery in Rural or Distressed areas, or among populations suffering
economic hardship;
(C) The Project
creates, or leads to the creation or retention of jobs of higher income for
Oregonians;
(D) The Project
promotes the development of new national and international markets for goods
and services produced in Oregon; or,
(2) If the Project affects land use, it must satisfy the applicable requirements of OAR chapter 123, division 8 of this Department.
(3) Funding decisions shall be made by either the Governor or the Director.
Stat. Auth.: ORS 285A.075
Stats. Implemented: ORS 285B.266
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