LAC 13:I.5513. LED Action—Approval or Denial Provisions

A. In the event LED determines that an applicant is eligible, funding is available, and an award would be appropriate, LED will negotiate all appropriate provisions with interested parties, and issue applicable contracts, specifying the funding amount and the terms and conditions of the award. 1. Partially forgivable loans may be awarded the discretion of LED. Forgiveness conditions include but are not limited to: Site located in a distressed community, locating entity creates ten jobs that pay at or above 150 percent of the parish average wage, and locating entity has invested an additional one billion dollars. B. In the event an application is denied, LED shall issue a written denial. C. LED reserves the right to enter into public-private partnerships if determined to be in the best interest of the State.