Wyoming Administrative Code
Agency 085 - Business Council
Sub-Agency 0001 - Business Ready Community Grant And Loan Program
Chapter 4 - BUSINESS READY COMMUNITY MANAGED DATA CENTER COST REDUCTION FUNDING
Section 4-5 - Application Procedures
Universal Citation: WY Code of Rules 4-5
Current through September 21, 2024
(a) Each applicant under this Chapter shall follow the application requirements in Chapter 1.
(b) In addition to other requirements listed for a development agreement in Chapter 1, the following shall be included:
(i) An agreement that the
business will repay all grant funds expended at a reasonable rate of return as
negotiated with the applicant and approved by the Council if the business
relocates from the political subdivision within five (5) years from first
receiving funds;
(ii) An agreement
that the business will repay all grant funds expended at a reasonable rate of
return as negotiated with the applicant and approved by the Council if the
business does not meet its match requirements within five (5) years from first
receiving funds;
(iii) An
understanding of the required match and job creation requirements;
(iv) The terms of the fund disbursements and
a statement of which utility costs will be reduced using the grant funds and in
what amount;
(v) A written timeline
for the business to become operational and a signed commitment to meet the
milestones within that timeline;
(vi) An offer by the business and an
acceptance or rejection by the applicant to provide a stated amount of
information technology storage services to the applicant at a price discounted
from the fair market value of the services;
(vii) If applicable, a signed lease agreement
or memorandum committing the applicant and business to follow the terms of
lease agreement.
(c) Council staff shall utilize a scoring matrix to evaluate an application.
(d) At the applicant's expense, Council staff may request a disinterested third party review the applicant's business plan or examine other aspects of an application made under this Chapter. Selection of the disinterested third party is at the sole discretion of Council staff.
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