Minn. R. agency 139, ch. 4370, pt. 4370.0050

Current through Register Vol. 49, No. 24, December 9, 2024

Part 4370.0050 - APPLICATION PROCESS AND REQUIREMENTS FOR SELECTION OF REGIONAL ORGANIZATIONS TO RECEIVE CHALLENGE GRANTS

Subpart 1.Eligibility requirements.

An eligible applicant must be a nonprofit corporation that can demonstrate the authority and ability to establish and administer a revolving loan fund, to initiate and implement economic development within its funding region, to be familiar with other available public and private funding sources and economic development programs, and to analyze projects to objectively review loan requests. Subject to the approval of the commissioner, an applicant may contract with other entities that have the technical skills to provide the specific services that fulfill this requirement.

An eligible applicant must demonstrate that its board of directors includes citizens who are experienced in rural development, has representatives of the regional development commissions (when applicable), and has directors representative of the geographic areas in the funding region.

Subp. 2.Process for submitting application.

The commissioner shall give notice of the period during which applications will be accepted. The notice must be published in the State Register at least 30 days before the closing date.

Subp. 3.Contents of application.

The application must be in a form prescribed by the commissioner and must include:

A. an assurance signed by the regional organization's chair that the applicant will comply with all applicable state and federal laws and requirements;

B. a resolution passed by the applicant's board of directors approving the submission of an application and authorizing execution of the grant agreement if funds are made available;

C. documentation of an applicant's eligibility; and

D. any additional information that the commissioner requests as necessary to clarify and evaluate the application.

Subp. 4.Evaluation and approval of applications.

Applicants that meet the eligibility requirements will be evaluated in the following two areas:

(1) their ability to provide a nonpublic direct dollar match to the challenge grant award, and

(2) their ability to implement requirements of the challenge grant program (including cooperation with other rural development organizations in carrying out the challenge grant program to promote rural development and provide technical assistance).

Minn. R. agency 139, ch. 4370, pt. 4370.0050

13 SR 130; L 1996 c 369 s 12

Statutory Authority: MS s 116N.08