1. A. Applicants must submit their completed application and proposal to the secretary of DED. Submitted applications will be reviewed and evaluated by DED staff. Input may be required from the applicant and other state agencies as needed in order to:

   1. 1. evaluate the strategic importance of the project to the economic well-being of the state and region;
   2. 2. determine whether the project's funding requirements are best met by the proposed award;
   3. 3. validate the information presented;
   4. 4. determine the overall feasibility of the applicant's plan.

2. B. Upon determination that an application meets the eligibility criteria for this program and is deemed to be beneficial to the well-being of the state, DED staff will then make a recommendation to the secretary. If the secretary finds the application complies with the requirements of this program, he may approve the application for funding.

   1. 1. No funds spent on the project prior to the secretary's approval will be considered eligible project costs.
   2. 2. The secretary will issue a Letter of Commitment to the applicant within five working days of the application review and approval.
   3. 3. The final 10 percent of the award amount will not be paid until DED staff reviews the deliverables of the grant agreement to assure that all work has been completed.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:2341 et seq.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of the Secretary, LR 25:241 (February 1999).