R 125.152 Processing and evaluation of applications.

Rule 152. (1) An application for a development fund grant must be processed by the authority staff based on the authority's evaluation factors. (2) An applicant may be required to furnish to the authority staff supplementary information and amend the application so that the planned activities are fully consistent with the authority's evaluation factors. (3) Upon completion of the processing, all applications for development fund grants in the amount of $350,000.00 or more must be presented to the authority for approval, along with the authority staff’s analysis of the application and the executive director's recommendation with respect to the application subject to the terms, conditions, and requirements determined necessary by the authority. (4) If the amount of the development fund grant is less than $350,000.00, the executive director shall review the authority staff’s analysis and determine whether all of the following requirements are met: (a) The applicant is authorized by the act to receive a development fund grant. (b) The applicant will use the grant funds in planning for or implementing any activities allowed in the act. (c) The applicant is reasonably expected to successfully implement the proposal. (d) The application satisfies the evaluation factors and criteria adopted by the authority. (5) If the requirements of this subrule are met, the executive director may issue, on behalf of the authority, a commitment for a development fund grant to the applicant. The development fund grant commitment must contain terms, conditions, and requirements as determined necessary by the executive director. The authority may require repayment of these grants.