Utah Admin. Code R357-11-11 - Recapture
(1) In order to receive grant funding under
these provisions, an applicant must commit to maintain a manufacturing location
or service location in the State of Utah for at least five years from the date
that the grant award letter is issued.
(2) Maintaining a manufacturing and service
location means that the applicant will perform at least 51% percent of the
grant activities listed above in the State of Utah, will exploit the technology
into a commercial project in Utah and will maintain working operations in the
State for at least five years from the date the grant award letter is
issued.
(3) If the applicant fails
to maintain a manufacturing a service location in Utah for at least five years
from the date the grant award letter is issued, the entire grant amount may be
subject to recapture.
(4) A
repayment by an applicant shall be prorated based on the number of full years
the applicant operated in the state from the date of the awarded
grant.
(5) Should an applicant fail
to comply with the requirements to maintain a manufacturing and service
location in Utah for the purpose of exploiting the new technology that is the
subject of the grant, the Office will issue a Notice of Agency Action for
Recapture.
(6) The Notice of Agency
Action shall contain the grounds for recapture, and the prorated amount of the
recapture, if any.
Notes
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