Section 63N-4-504 - Requirements for awarding a working hubs grant(1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the office shall make rules establishing the eligibility and reporting criteria for an entity to receive a grant under this part, including: (a) the form and process of submitting an application to the office for a grant;(b) which entities are eligible to apply for a grant;(c) the method and formula for determining grant amounts; and(d) the reporting requirements of grant recipients.(2) In determining the award of a grant, the office may prioritize projects: (a) that will serve underprivileged or underserved communities, including communities with high unemployment or low median incomes;(b) where an applicant demonstrates comprehensive planning of the project but has limited access to financial resources, including financial resources from local or county government; and(c) that maximize economic development opportunities in collaboration with the economic development needs or plans of an educational institution, a county, and a municipality.(3) Subject to legislative appropriation, a grant may only be awarded by the executive director.(4) A grant may only be awarded under this part:(a) if the grant recipient agrees to provide any combination of funds, land, buildings, or in-kind work in an amount equal to at least 25% of the grant;(b) if the grant recipient agrees not to use grant money for the ongoing operation or maintenance of a coworking and innovation center; and(c) in an amount no more than $500,000 to a grant applicant.Amended by Chapter 506, 2024 General Session ,§ 65, eff. 5/1/2024.Added by Chapter 467, 2019 General Session ,§ 4, eff. 5/14/2019.