73C-23.0048, F.A.C.
73C-23.0048. Specific Requirements for Economic Development
Cite as Fla. Admin. Code r. 73C-23.0048
Prohibited Uses of Funds. Funds shall not be used for:
(1) Working capital, inventory or supplies.
(2) Grants to non-public entities.
(3) Purchasing assets from any entity if any corporate officer(s) or principal(s) of the Participating Party owns an interest in that entity.
(4) Building or developing infrastructure beyond that which is required as a prerequisite for the job creation by the Participating Party.
(5) Refinancing existing debt.
(6) Any other purpose not permissible under the Housing and Community Development Act of 1974 or any rules or guidance promulgated thereunder.
(7) Any other purpose deemed not permissible in a NOFA or in the Subgrant Agreement.