Rule 6-9-2.16 - Funding GuidelinesAll projects receiving a grant must adhere to the following rules before requests for payment can be processed and payment can be made:
A. The applicant must have a current W-9 form with a Federal Tax ID Number on file at MDA and must be registered as a vendor in the State of Mississippi's MAGIC system and in Paymode.B. The applicant must list the project name (as listed on the grant application form) and the grant fund number (as listed in the grant agreement) in all correspondence regarding an approved project.C. A copy of vendor invoices and a copy of proof of payment to vendors must be provided with requests for payment, along with a request for payment form. (Examples of proof of payment include canceled checks, bank statements, vendor receipts, etc.)D. MDA may conduct a final site inspection prior to final grant closeout.E. The applicant must return a complete, final report to MDA's Business Incentives Division no later than 90 days from the project completion date.F. Grant recipients must provide MDA with access to all studies, reports, documents, and/or plans developed as a result of or in conjunction with MDA grant funds.G. Grant recipients must commit to updating MDA's Sites and Buildings database to reflect the improvements at the site that benefited from grant assistance and any due diligence updates made with grant assistance.H. Grant recipients must agree to repay grant funds received if the site being developed or acquired is developed for any purpose other than industrial development within five (5) years of final grant disbursement.I. Grant recipients must agree to requesting written permission from MDA to transfer the developed or acquired site to private ownership if the site is selected for an economic development project.J. Grant recipients must agree to maintain the site so that it presents well to prospective businesses and remains a competitive site for economic development for a period of five (5) years from the date of final disbursement. If a site developed or acquired with Select Sites grant funds is not maintained for at least five (5) years after final grant disbursement, the recipient may be required to repay grant funds.Miss. Code Ann. § 57-1-701