Section 125.153. Authorization of development fund grants in the amount of

$250,000 or more.

    (1) For applications for development fund grants in    the    amount of

$250,000 or more, the authority shall review each analysis and recommendation presented and, if it determines that the application meets the requirements of the act and these  rules  and  is  consistent  with  the authority's evaluation factors, by resolution, it may authorize a development fund grant to the applicant in an amount not to exceed the net costs  to  the applicant of the planned activities.

(2)       The resolution of the authority shall include all of the following determ- inations by the authority:

(a)     The applicant is an applicant authorized by the act to receive  a development fund grant.

(b)    The applicant shall use grant funds in planning for or implementing any activi- ties permitted in the act.

(c)     The applicant is reasonably expected to  be  able  to  successfully imple-ment the proposal.

(d)       The application satisfies the evaluation factors and criteria adopted by the authority.

(3)      The resolution may include conditions which the authority considers appro- priate with respect to the use and disbursement of the development fund grant. The authority may require repayment of these grants.

History: 1979 AC; 1986 AACS; 1998-2000 AACS.