Ala. Admin. Code r. 305-5-5-.09

Current through Register Vol. 43, No. 1, October 31, 2024

Section 305-5-5-.09 - Criteria For Funding Capital Outlay And Operational Grants

Funding decisions on applications for funding capital outlay and operational grants will be made by the Committee based on the criteria listed below:

(1) Purpose or mission of incubator.

(2) Match:

(a) Amount of match

(b) Percent of match relative to total project cost

(c) Certainty of match

(d) Nature of match.

(3) Suitability of community for incubator:

(a) Critical mass based on factors listed below:

1. Population base

2. Proximity of technical assistance

3. Base of potential entrepreneurs

4. Leadership potential/community support

(b) Relationship to other communities in incubator network if part of network.

(4) Suitability of building:

(a) Location

(b) Characteristics of building:

1. Size

2. Structural soundness

3. Internal configuration/layout

4. Quality of space

5. Adaptability of building

6. Cost

7. Other characteristics.

(5) Services being provided or to be provided to clients:

(a) Type of services to be provided

(b) Quality of services

(c) Suitability of services

(d) Expected cost of operation.

(6) Technical assistance and consulting services:

(a) Type of assistance provided or to be provided tenants

(b) Quality of assistance provided or to be provided tenants:

1. Background of provider/resume'

2. Proximity of provider

3. Expected cost of assistance

(c) Appropriateness of technical assistance and consulting services to be provided.

(7) Appropriateness of operational policies:

(a) Business plan for incubator

(b) Entrance policies for incubator:

1. Business plan for applicants

2. Method of determining:

(i) Viability of business concept

(ii) Viability of marketing strategy

(iii) Soundness of principals:

(I) Financial history

(II) Business history

(c) Level of subsidy to be provided tenants:

1. Basis for determination

(d) Graduation policies:

1. Time frame

2. Profitability and soundness of company

3. Exceptional cases

4. Other.

(8) Nature of policy making board of incubator:

(a) Make-up of board

(b) By-laws

(c) How elected or appointed

(d) Conflict of interest provisions.

(9) Reasons capital outlay assistance is needed:

(a) Type of capital outlays to be made

(b) Purpose of outlay

(c) Reasons outlay is needed

(d) Expected result of outlay:

1. Jobs

2. Operating efficiency

3. Effectiveness of incubator

4. Cash flow of incubator

5. Other.

(10) Reasons operational assistance is needed:

(a) Type of operational assistance needed

(b) Purpose of operational expenditures

(c) Reasons assistance is needed

(d) Expected result of operational assistance:

1. Additional jobs

2. Operational efficiency

3. Effectiveness of incubator

4. Cash flow of incubator

5. Other.

Authors: Don Reid and Harris Cooper

Ala. Admin. Code r. 305-5-5-.09

New Rule: Filed November 29, 1993; Effective January 3, 1994.

Statutory Authority:Code of Ala. 1975, 1993 Ala. Acts 543.