La. Admin. Code tit. 19 § III-2507

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-2507 - Qualified Expenditures

A. REDO's shall only use grant funds to pay for qualified expenditures related to the furtherance of economic development within the region it represents.

B. Qualified expenditures are limited to site development costs for publicly owned property or other property to the extent allowable under Article VII, Section 14 of the Constitution of Louisiana and other applicable state law, as approved in writing by LED.

1. Grant awards for development of other property, in proportion to awards for development of publicly owned property, may be limited by the secretary if determined to be in the best interests of the state.

2. Reimbursement of funds expended on other property is contingent upon written evidence being provided to LED that such development costs are allowable under Article VII, Section 14 of the Constitution and any other applicable state law. Such evidence may include but not be limited to a final judicial determination from a court of competent jurisdiction.

C. Eligible site development costs may include but not be limited to the following:

1. studies;

2. surveys;

3. development of plans and specifications;

4. real estate services and transactions, such as option agreements, rights of first refusal and infrastructure improvements may be considered qualified expenditures if they further attributes of the site as a developable property and adequate supporting documentation is submitted to LED. LED will evaluate submissions on a case by case basis, but would consider the following to be examples of improvements:

a. the construction of water, sewer or rail lines, roads or the development of rights of way.

b. the removal of an existing structure;

5. due diligence;

6. remediation;

7. wetland delineation;

8. professional services for architectural, engineering, legal, construction, and financial services related to site development.

D. Ineligible site development costs may include but not be limited to the following:

1. salaries, wages or benefits;

2. travel expenses incurred by REDO officers, employees or contractors;

3. alcohol;

4. land, building, offices, equipment, or vehicles used primarily for the administrative operations of the REDO.

La. Admin. Code tit. 19, § III-2507

Promulgated by the Department of Economic Development, Office of Business Development, LR 491031 (6/1/2023).

AUTHORITY NOTE: Promulgated in accordance with. R.S. 39:1481 et seq.