Ga. Comp. R. & Regs. R. 413-3-.06 - Eligible Activities

Eligible uses of funds provided under the Business Growth Fund include those activities and the provision of facilities and services as described in O.C.G.A. § 50-34-1et seq.

Eligible uses of funds for this category shall include, but are not limited to:

1. Public Land and Building Acquisition, Site Development, Construction, Improvement or Modification;

a) For siting and/or improving publicly owned infrastructure,

b) For publicly owned industrial and technology parks, and airports,

c) For publicly owned improvements for tourism development.

2. Public Infrastructure Improvements;

a) Publicly owned water and/or sewer facilities and improvements,

b) Publicly owned improvements for pollution control,

c) Publicly owned railroad spurs,

d) Publicly owned road improvements,

e) Drainage improvements on public rights of way,

f) Site preparation on publicly owned land,

g) Publicly owned telecommunications assets.

3. Acquisition, Improvement or Modification of Publicly Owned Machinery and Equipment, including plans and specifications for such machinery and equipment. 4. Acquisition, Improvement or Modification of Publicly Owned/ Privately Leased Fixed Assets (sites and buildings) and/or Machinery and Equipment, including plans and specifications for such machinery and equipment.

It is important to note that the proposed use of Business Growth Fund monies will dictate whether the funds can simply be granted to the applicant, or whether they will be granted to the applicant but require a lease agreement. In general, public acquisition or improvements of public facilities and infrastructure can be paid for by the applicant with Business Growth Fund monies and do not have to be leased to a subrecipient through a development authority. Where Business Growth Fund monies are expended for the public acquisition and/or improvement of privately used land, buildings, machinery and equipment, or other private assets, the assets must be owned or controlled by the applicant and leased or subleased to the private user.

The Authority may also require the applicant to recapture some or all of the Business Growth Fund assistance if ownership of project assets is transferred to an entity other than the applicant. The Authority also reserves the right to establish criteria for the recapture of grant funds upon transfer of project assets to an entity other than the applicant or upon any event that violates state law, the public purpose of the grant program, or any of the grant conditions. All recaptured funds must be returned to the Authority, unless otherwise specified by the Authority.

Notes

Ga. Comp. R. & Regs. R. 413-3-.06

O.C.G.A. Sec. 50-34-1et seq.

Original grant description entitled "Eligible Activities" submitted August 30, 2001.