Rule 413-5-1-.08 - Threshold Requirements(Application must meet all threshold requirements in order to be rated):
(1) The application is from an eligible applicant;(2) The project takes place within a rural county or a county with less than 500,000 total population that shares a border with a rural county which has endorsed the project and also demonstrates sufficient quantifiable public benefit (as defined in Section 413-5-1-.09(7)) to the rural county to qualify as a regional application;(3) The proposed sub-recipient business is an emerging or development-stage company in a strategic industry;(4) Each loan application must include a letter of support and recommendation from a state agency or organization whose statutory powers and duties include community and economic development or the enhancement of Georgia's technology sectors, stating that the proposed project needs the Loan Fund's loan assistance and will (if funded) develop, promote, and/or retain trade, commerce, industry and employment opportunities within the state's strategic industries and promote the general welfare of the state.(5) The proposed use of funds are for eligible activities and will be carried out in a manner consistent with the state constitution, state law and in accordance with the applicant's (or sub-recipient's) enabling legislation and authority; and(6) The proposed activities are consistent with local and regional plans developed under the provisions of the Georgia Planning Act and the Service Delivery Strategies developed in accordance with O.C.G.A. 36-70-1et seq.Ga. Comp. R. & Regs. R. 413-5-1-.08
O.C.G.A. Sec. 50-34-1et seq.
Original grant description entitled "Threshold Requirements" submitted June 27, 2005.