LAC 13:III.503. Definitions

Applicant―the sponsoring Louisiana port authority requesting financial assistance from DED under this program. Award―funding approved under this program for eligible applicants. Awardee―an applicant receiving an award under this program. Capital Projects―include any port infrastructure development project including land acquisition and attendant development costs. Cash―any asset on the port's records used for the project. Land's value will be determined by its appraised value. DED―Louisiana Department of Economic Development. In-Kind―any service, land or equipment, related to the project, donated to a port outside its legal entity. Intermodal Infrastructure Development―refers to the provision of highway, rail, water or air access; and internal trans-loading or distribution facilities to property owned and maintained by a local port authority. Program―the Port Development Program. Project Priority List―a list of projects proposed by eligible applicants ranked for program funding by the Department of Economic Development. Secretary―the Secretary of the Department of Economic Development.