Rule 110-18-1-.05 - Review of ApplicationsAll applications received from applicants and eligible subrecipients will be reviewed to determine the merit of the applications and the proposed use of funds. In determining whether an applicant shall receive a grant award, the following criteria will be considered:
(1) The applicant must have a project approved by the RLF loan committee. (The RLF loan committee is appointed by the department in compliance with the Code, Guidelines, and Plan and Policies.) In addition, the applicant must be willing to enter into a loan agreement with the department and the eligible subrecipient. The loan agreement will be in a form specified by the department.(2) Projects from subrecipients will be reviewed by the RLF loan committee and department staff based upon enhancement of economic development opportunities, including but not limited to, ability of subrecipients to repay loan proceeds, numbers of jobs retained and/or created; total private capital investment; degree of bank commitment; consistency with local and regional development goals and objectives; reasonableness of cost estimates, and other criteria specified in the Plan and Policies.(3) In its review of applications, the department may, at its discretion, consult with other individuals or agencies as appropriate for the purpose of receiving advice.(4) The criteria in this rule (110-18-1-.05) are designed to assist the department in making its decision. Additional factors may be considered depending on the nature of particular projects and their relative merit compared to competing proposals and depending on the availability of funding at the time of application. The decision that the department makes shall be final and conclusive.Ga. Comp. R. & Regs. R. 110-18-1-.05
O.C.G.A. Sec. 50-8-8.
Original grant description entitled "Review of Applications" submitted May 6, 1999.