(a) Application for grant award.

1. (1) An Arkansas cultural institution, as defined in 13 CAR § 63-103, may apply for a grant from the Arkansas Cultural Institution Trust Fund.
2. (2) The guidelines and access to the online application will be available on the Division of Arkansas Heritage website under Division of Arkansas Heritage grants at https://www.arkansasheritage.com/available-grants/division-of-arkansas-heritage-grants.
3. (3) The application will request that the applicants provide detailed information regarding the project, and applicants will be allowed to submit documents and pictures to support their applications.

(b) Review of applications by Arkansas Cultural Institutions Trust Fund Review Committee.

1. (1) The applications for grants from the fund will be reviewed by the Arkansas Cultural Institutions Trust Fund Review Committee.
2. (2) The committee will be created by the Secretary of the Department of Parks, Heritage, and Tourism in accordance with Arkansas Code § 13-8-304.

3. (3) The committee will include three (3) members, including:

   1. (A) The Director of the Division of Arkansas Heritage;
   2. (B) The Director of the Tourism Division; and
   3. (C) A director of an accredited museum within the Division of Arkansas Heritage.

(c) Factors considered by the committee.

1. (1) In evaluating applications, the committee will evaluate the application and consider the following factors:

   1. (A) The estimated economic and tourism impact of the project;
   2. (B) Availability of other project funding sources; and
   3. (C) Overall cost of the project.
2. (2) In evaluating the application, the total project cost should be a minimum of seven million dollars ($7,000,000).

3. (3) The committee will consider the economic impact of the project, including the impact upon the region where the cultural institution is located, including, but not limited to:

   1. (A) Tax revenue generated by the project;
   2. (B) Number of visitors;
   3. (C) Jobs and business creation;
   4. (D) Impact on existing businesses; and
   5. (E) Overall tourism impact.
4. (4) The committee can consider other factors in addition to the above referenced factors.
5. (5) As part of the application process, applicants will be allowed to submit documents and pictures to support their application.

(d) Criteria for distribution of funds. The criteria for the distribution of grant funds will include, without limitation, the following factors:

1. (1) Estimated economic and tourism impact of the project;
2. (2) Availability of other project funding sources; and
3. (3) Overall project cost.