La. Admin. Code tit. 13 § III-155

Current through Register Vol. 50, No. 9, September 20, 2024

Section III-155 - Site Readiness Grants

A. Pursuant to R.S. 51:2341, LEDC may award an appropriation or allocation of funds to LED, to be used for site readiness grants.

B. LED may make a site readiness grant upon terms and conditions which it determines, within its discretion, will be beneficial in meeting the goals stated in the preamble and purpose of this Subchapter.

C. Application for a site readiness grant may be made, in a form determined by LED, by the owner or lessor of a site, or by a local governmental entity or an economic development organization on behalf of the owner or lessor.

D. Eligible uses of a site readiness grant may include costs of site assessment, evaluation, preliminary engineering, environmental studies and assessments, soil analysis, wetlands delineation and mitigation, surveys, maps, due diligence, preliminary cost estimates, site preparation, site acquisition, and similar or related costs determined by LED to be beneficial in enhancing the suitability and availability of a site for a potential project.

E. Site readiness grants for non-public sites shall be limited to not more than $1,000 per acre, unless a higher amount is approved by LEDC. This limitation shall not apply to public sites.

F. A site readiness grant shall be made through a cooperative endeavor agreement between LED and the site owner, lessor or other applicant, which shall provide for eligible uses of the grant, obligations as to availability of the site, matching funds if any, and other terms and conditions LED determines to be appropriate to further the purposes of this program. Grant funds may be paid to the site owner, lessor or other applicant to undertake the funded activities, or LED may use grant funds to contract with a third party to undertake such activities.

La. Admin. Code tit. 13, § III-155

Promulgated by the Department of Economic Development, Office of the Secretary, Office of Business Development and Louisiana Economic Development Corporation, LR 38:2528 (October 2012).

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104, 36:108, 51:2302, 51:2312, and 51:2341.