Ala. Admin. Code r. 281-6-2-.07 - Partial Funding Of Projects

Current through Register Vol. 40, No. 6, March 31, 2022

Each application filed by a local economic development organization shall include a certification of the amount of organization funding available 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 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.

Notes

Ala. Admin. Code r. 281-6-2-.07
Adopted by Alabama Administrative Monthly Volume XXXV, Issue No. 05, February 28, 2017, eff. 3/19/2017.

Author: Department of Commerce

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

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