La. Admin. Code tit. 13 § III-107
Current through Register Vol. 50, No. 11, November 20, 2024
Section III-107 - EligibilityA. An eligible application for the award must meet the general principles set forth in Section 105 above and the criteria provided in Section 109 below; must demonstrate a need for the funding of the project consistent with these rules; and, 1. In connection with a sponsored project, the infrastructure project must be or will be owned by, and the ownership benefits or rights resulting from the infrastructure project must inure to the benefit of one of the following: a. a public or quasi-public entity; orb. a political subdivision of the state; or2. In connection with an unsponsored project, the project must be or will be owned by, and the ownership benefits or rights resulting from the project must inure to the benefit of the applicant/ company, business enterprise or awardee, which in the case of a loan award, will also be the borrower.B. A company or public entity shall be considered ineligible for this program if it has pending or outstanding claims or liabilities relative to failure or inability to pay its obligations, including state or federal taxes, a bankruptcy proceeding, or if it has pending, at the federal, state, or local level, any proceeding concerning denial or revocation of a necessary license or permit, or if the company or public entity has another contract with LED or LEDC in which the company or public entity is in default and/or is not in compliance. Should a company or a public entity, after receiving an award, fail to maintain its eligibility during the term of the award agreement, the LEDC Board, in its discretion, may terminate the agreement and the award, and may seek a refund of any or all funds previously disbursed under the agreement.C.1. Businesses not eligible for awards under this program shall include: a. retail businesses, enterprises and/or operations;b. real estate businesses, enterprises, operations and/or developments (whether commercial or residential);c. lodging or hospitality businesses, enterprises and/or operations;d. assisted living businesses, enterprises or operations, retirement communities, or nursing homes; ore. gaming or gambling businesses, enterprises and/or operations.2. This ineligibility provision shall not apply to wholesale, storage warehouse or distribution centers; catalog sales or mail-order centers; home-office headquarters or administrative office buildings; even though such facilities are related to ineligible business enterprises, provided that retail sales, hospitality services, assisted living or nursing services, and gaming activities are not provided directly and personally to individuals in any such facilities.La. Admin. Code tit. 13, § III-107
Promulgated by the Department of Economic Development, Louisiana Economic Development Corporation, LR 23:37 (January 1997), amended by the Department of Economic Development, Office of the Secretary, LR 23:1639 (December 1997), LR 25:238 (February 1999), LR 26:237 (February 2000), amended by the Department of Economic Development, Office of Business Development, Louisiana Economic Development Corporation, LR 29:861 (June 2003), LR 31:903 (April 2005), LR 35:872 (May 2009), amended by the Department of Economic Development, Office of the Secretary, Office of Business Development and the Louisiana Economic Development Corporation, LR 40:267 (February 2014).AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104, 36:108, 51:2302, 51:2312, and 51:2341, et seq.