1 Del. Admin. Code § 403-4.0

Current through Reigster Vol. 28, No. 6, December 1, 2024

Section 403-4.0 - Procedures

4.1 In the event of any Council vacancy, Members will encourage the Governor to fill such a vacancy promptly.

4.2 The Council will, consistent with the provisions of 29 Del.C. Ch. 100 and 8DE Admin. C.1500, make certain information contained in a company's application available to the public upon written request.

4.3 The Council will, when practicable, schedule and locate meetings of the Council in a way that achieves geographic balance and centrality.

4.4 Any substantive changes made to any agreement or contract excluding any agreement contract or associated document related to any conduit bond issued by DEDA, after initial review by the Council shall be resubmitted to the Council for additional review and recommendation.

4.5 DEDO will organize and provide orientation for all new Council Members . The orientation will include:

4.5.1 the responsibilities of Council Members and DEDO staff;

4.5.2 discussion of applicable state law/regulations; and

4.5.3 a briefing by the staff of the Delaware Public Integrity Commission on matters, including but not limited to, rules of conduct, conflict of interest, and public disclosure.

4.6 The Council will, consistent with the State Employees', Officers' and Officials Code of Conduct, 29 Del.C. Ch. 58, encourage Members to identify prospective companies and business development opportunities to DEDO.

4.7 DEDO shall present an annual operating budget report to the Council for comment and review.

4.8 Any public disclosure of funding by DEDO, prior to approval by the Council by DEDO shall include a disclaimer which indicates that such funding is subject to review and recommendation of the Council.

4.9 DEDO shall provide an annual Portfolio Report to the Council for review, which shall include, but not be limited to, compliance with benchmark employment levels and repayment status for outstanding loans made by DEDA.

4.10 Council shall review any Strategic Fund loan or grant in which the applicant has not entered into a contract with DEDA within one year of approval.

4.11 DEDO staff will provide information to the Council on return on investment, gross State product and personal income tax data related to each Project where such information is used to determine the value of the Project in the Application Evaluation Report.

4.12 DEDO shall present biannual Strategic Fund cash management reports to the Council which shall include, but not be limited to total Strategic Funds balances, amounts encumbered (and corresponding dates of encumbrances), Strategic funds committed to future Projects and available Strategic Fund balances.

1 Del. Admin. Code § 403-4.0

11 DE Reg. 927 (01/01/08)
17 DE Reg. 90(7/1/2013) (Final)