Section 154.21-015 - [Effective Until 7/1/2024] Definitions for KRS 154.21-010 to 154.21-040As used in KRS 154.21-010 to 154.21-040:
(1) "Cabinet" means the Cabinet for Economic Development;(2) "Eligible grant recipient" means a grant applicant that is a local government or an economic development authority in an economic development district in this Commonwealth that is engaged in an eligible project;(3) "Eligible project" means an economic development project with available matching funds for the project on a dollar-for-dollar basis that is either:(a) Initiated on publicly owned property; or(b) If the project's eligible use includes property acquisition or a due diligence study, then the property shall come with either a:1. Legally binding letter of intent or option for the sale to an eligible grant recipient; or2. Sale agreement for the sale to an eligible grant recipient;(4) "Eligible use" means the authorized purpose for which an awarded grant may be used depending on the source of funds from the Commonwealth. "Eligible use" may include but is not limited to expenditure in any of the following categories or some combination thereof: (b) Property acquisition;(c) Infrastructure extension or improvement;(d) Site preparation work;(e) Building construction or renovation; or(f) Road improvement; and(5) "Regional project" means an eligible project that is proposed by eligible grant recipients residing in different counties in this Commonwealth who submit a single grant application as co-applicants.Amended by 2023 Ky. Acts ch. 12,§ 3, eff. 6/28/2023.Added by 2022 Ky. Acts ch. 176,§ 2, eff. 7/13/2022.This section is set out more than once due to postponed, multiple, or conflicting amendments.