Statutes, codes, and regulations
Alabama Administrative Code
Title 281 - ALABAMA DEPARTMENT OF COMMERCE, FORMERLY ALABAMA DEVELOPMENT OFFICE AND ALABAMA TOURISM DEPARTMENT/ALABAMA FILM OFFICE
Chapter 281-6-2 - ALABAMA RENEWAL ACT - GROWING ALABAMA CREDIT
Section 281-6-2-.07 - Partial Funding Of Projects

Ala. Admin. Code r. 281-6-2-.07

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Current through Register Vol. 43, No. 1, October 31, 2024
Section 281-6-2-.07 - Partial Funding Of Projects

Each application filed by a local economic development organization shall include a certification of the amount of organization funding available to complete the project should taxpayer funding not materialize. Each Growing Alabama Funding Agreement shall include an agreement by the local economic development organization to fully fund the project once an agreed amount of cash contributions from taxpayers is received. For the avoidance of doubt, a local economic development organization may specify that no organization funding is available for the project, in which case the project must be fully funded by cash contributions from taxpayers prior to proceeding.

Ala. Admin. Code r. 281-6-2-.07

Adopted by Alabama Administrative Monthly Volume XXXV, Issue No. 05, February 28, 2017, eff. 3/19/2017.

Author: Department of Commerce

Statutory Authority:Code of Ala. 1975. § 40-18-415 (f).