Kan. Admin. Regs. § 110-13-4 - Regional business development funds; eligible projects
(a) Each
regional foundation shall administer a regional business development fund.
(b) The sums generated by
contributions to each regional business development fund shall be allocated
according to the following provisions:
(1) No
less than 60 percent may be allocated for job creation or retention.
(2) A maximum of 10 percent may be allocated
towards the administrative cost of overseeing the project.
(3) The remaining funds may be allocated
towards other eligible activities in a manner that fits the region's priorities
and needs.
(c)
Contributions to the fund shall be utilized by the regional foundation for one
or more of the following projects:
(1)
Business start-ups;
(2) business
expansion;
(3) business retention;
(4) business support services;
(5) regional leadership
development;
(6) technology
improvements; and
(7)
administrative services.
(d) All interest generated on idle funds
administered for this program by the regional foundation shall be used by the
foundation's board in a manner not inconsistent with this regulation.
(e) Any regional foundation may
exceed the maximum percentages allowed for one or more eligible projects with
the prior approval of the secretary.
Notes
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