94- 457 C.M.R. ch. 322, § 4

Current through 2024-51, December 18, 2024

Section 457-322-4 - APPLICATION PROCEDURE

1. The grant applicant shall complete and return to the Authority by a date specified by the Authority a Food Processing Grant application, including supporting schedules. No application will be approved unless the Chief Executive Officer determines that the application is complete, and the borrower is eligible on the date due. The Authority may extend the date or reopen application submissions should extra funds remain.

2. The Authority will prioritize applications from eligible applicants based on the following:

A. The economic feasibility and viability of the project;

B. The likely benefit of the grant to the financial success of the business;

C. The likely benefit of the grant toward the goal of creating and/or retaining Maine jobs;

D. The likely benefit to areas of the state having high rates of unemployment;

E. Highest priority shall be given to projects that:

(1) seek to redevelop recently closed facilities and lead to the re-employment of workers recently laid off as a result of such closures;

(2) are likely to benefit more than one enterprise;

(3) are likely to have a positive regional impact;

(4) contribute additional resources to the project.

3. The Authority will issue a commitment for grants to all approved applicants for which there are sufficient funds. The Authority may award an applicant a grant amount less than the original amount requested.

94- 457 C.M.R. ch. 322, § 4