General Grant Terms

General Grant Terms. A. The program intent is to stimulate growth and economic development through rail transportation infrastructure in the State. B. The amount of each grant awarded will be based on the applicant’s ability to participate in the project, the degree of need for the improvements, the lack of availability of other funding sources, the timeframe required to perform the improvements, the economic impact of the project on the community, and other criteria MDA develops. C. Each application will be evaluated on its own merit to meet the intent of the program. D. Each applicant must certify that they will perform standard maintenance and continue operations with reasonable customer pricing for a minimum of three years after the project is completed. E. In the event that the line is sold during the first three (3) years after the date of the final disbursement, the grant must be repaid to the State. F. A minimum match of 50%is required for Class 1 lines, and a 25% match is required for all other lines. G. Failure to comply with Grant terms may result in repayment of grant funds. H. A deadline for applications will be published by MDA each calendar year. Miss. Code Ann. §57-46-1 (Rev. 2014).