700 CMR, § 4.05

Current through Register 1538, January 3, 2025

Section 4.05 - Eligible Projects

In order to be eligible for funding pursuant to 700 CMR 4.00, a Project must be of public benefit, in the public interest, and for a public purpose, and any benefit to private entities or individuals shall be indirect and incidental and not the principal purpose of the Project. In addition, a Project must:

(a) Provide a sustained public benefit or facilitate economic growth through improved use of the rail transportation network within the Commonwealth;

(b) Have Independent Utility; and

(c) Have an estimated useful life of at least 20 years.

No amount of IRAP Program funds may be used for operating expenses. Successful applicants must take any and all actions necessary to prevent any such use of IRAP Program funds for operating expenses. Any misuse of program funds whether intentional or inadvertent, even if corrected after discovery, shall be justification for rejection of any subsequent IRAP Program application.

The Secretary may establish other requirements for Eligible Projects to qualify for funding under the IRAP Program provided that such other requirements are not inconsistent with 700 CMR 4.00.

700 CMR, § 4.05