Ga. Comp. R. & Regs. 267-9-.07

Current through Rules and Regulations filed through October 29, 2024

Rule 267-9-.07 - The Criteria for the Award of the Grant

The Empowerment Zone/Enterprise Community Loan-Grant Program is a one-time effort designed to assist those jurisdictions in federally-designated empowerment zones/enterprise communities. $2 million has been designated as available in each Empowerment Zone/Enterprise Community area in Georgia. GEFA will accept applications for funding of eligible projects under the terms of its existing Waiting List Loan Program. Each application must be accompanied by a resolution from the governing body of the empowerment zone or enterprise community authorizing the local government to submit an application and concurring with the project. If a local government qualifies as financially able to repay a loan in the full amount of the project, no grant will be given. If the local government cannot repay the full amount of the project, GEFA will make a grant for the remainder of the project costs not covered by loan funds.

Ga. Comp. R. & Regs. R. 267-9-.07

O.C.G.A. Sec. 50-23-5(b)(6).

Original grant description entitled "The Criteria for the Award of the Grant" received May 20, 1996.