(a) A Recipient of Investment Assistance awarded on or after the date of enactment of section 216 of PWEDA for a Project located in an EDA-funded Economic Development District may, at the discretion of the Assistant Secretary, receive a planning performance award in an amount not to exceed five percent of the amount of the applicable Investment award if EDA determines before closeout of the Project that:
- (1) The Recipient, through the Project, actively participated in the economic development activities of the District;
- (2) The Project demonstrated exceptional fulfillment of one or more components of, and is otherwise in accordance with, the applicable CEDS, including any job creation or job retention requirements; and
- (3) The Recipient demonstrated exceptional collaboration with Federal, State, and local economic development entities throughout the development of the Project.
- (b) The Recipient shall use the planning performance award to increase, up to 100 percent, the Federal share of the cost of a Project under this chapter.
- (c) The applicable FFO may set forth additional requirements, qualifications and guidelines for planning performance awards.
[71 FR 56675, Sept. 27, 2006, as amended at 73 FR 62869, Oct. 22, 2008; 79 FR 76136, Dec. 19, 2014]