Ga. Comp. R. & Regs. R. 110-25-1-.10 - Awarding of Funds
(1) Once selected for funding, awarded funds
will be made available by the Department through an award contract
incorporating by reference the approved final application and adding general
conditions plus special conditions as necessary. Such special conditions shall
include the terms and conditions of the loan to the sub-recipient
business.
(2) Because of the
limited amount of funds available, the Department may also award an amount less
than the amount requested in the application. Applicants will have thirty (30)
days from the date of award to accept any special conditions and/or the reduced
award amount. If the applicant fails to accept the special conditions or lower
award amount within the required period, the Department may unilaterally
withdraw the award.
(3) The
Department will prepare loan documents in consultation with the recipient's and
company's attorneys.
(4) As part of
the award conditions, the recipient must provide progress reports on the impact
and performance of the project as required by the Department.
Notes
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