Each application filed by a local economic development organization shall include a certification of the amount of organization funding available, including the source of funding, to complete the project should taxpayer funding not materialize. Each Growing Alabama Funding Agreement shall include an agreement by the local economic development organization to fully fund the project once an agreed amount of cash contributions from taxpayers is received. For the avoidance of doubt, a local economic development organization may specify in the application that no organization funding is available for the project, in which case the project must be fully funded by cash contributions from taxpayers prior to proceeding.

Author: Department of Commerce

Statutory Authority: Code of Ala. 1975. §40-18-415(f).

History: New Rule: Filed February 2, 2017; effective March 19, 2017. Amended: Published October 31, 2025; effective December 15, 2025.