Rules and Regulations of the State of Georgia
 

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<xmp>.</xmp> <form name="form1" method="post" action="110-25-1?urlRedirected=yes&amp;data=admin&amp;lookingfor=110-25-1" id="form1"> <input type="hidden" name="__VIEWSTATE" id="__VIEWSTATE" value="/wEPDwUKLTY5ODkwOTM2Nw8WAh4Ec3BhbQIJFgJmD2QWAgIFDw8WAh4EVGV4dAUFMSArIDhkZGSYdGchgw7NwTk2wBoq2g1NK/iNcQ==" /> <input type="hidden" name="__VIEWSTATEGENERATOR" id="__VIEWSTATEGENERATOR" value="EEBB6393" /> <input type="hidden" name="__EVENTVALIDATION" id="__EVENTVALIDATION" value="/wEWCALtvMykBwLniKOhBALV5cpNAoa5iIEFAoznisYGAsrv5u0MAsrv4u0MAsrv3u0MuqC/93pxP8cZBe6ScdL8WSNlE+E=" /> <div class='popup'> <div class='cnt223'> <div style="margin-bottom:6px;"> <img alt="Rules and Regulations of the State of Georgia" src="/images/new.gif"/> </div> <div class="header"> Terms and Conditions of Agreement for Access to Rules and Regulations of the State of Georgia Website </div> <div class="scroll"> <p>(Note: certain features of this site have been disabled for the general public to prevent digital piracy. If you are an entitled government entity pursuant the Georgia Administrative Procedures Act, <a target="_new" href="http://links.casemakerlegal.com/states/GA/books/Code_of_Georgia/browse?ci=25id=gasos&amp;codesec=50-13-7&amp;title=50&amp;#50-13-7(d)">O.C.G.A.§ 50-13-7(d)</a> contact the State of Georgia's Administrative Procedures Division at 678-364-3785 to enable these features for your location.)</p> <p>To access this website, you must agree to the following: </p> <p> These terms of use are a contract between you and/or your employer (if any), and Lawriter, LLC. </p> <p> You agree that you will not copy, print, or download anything from this website for any commercial use. </p> <p> You agree not to use any web crawler, scraper, or other robot or automated program or device to obtain data from the website.</p> <p> You agree that you will not sell, will not license, and will not otherwise make available in exchange for anything of value, anything that you download, print, or copy from this site.</p> <p> You agree that you will not copy, print, or download any portion of the regulations posted on this site exceeding a single chapter of regulations for sale, license, or other transfer to a third party, except that you may quote a reasonable portion of the regulations in the course of rendering professional advice.</p> <p> If you violate this agreement, or if you access or use this website in violation of this agreement, you agree that Lawriter will suffer damages of at least $20,000. </p> <p> THIS WEBSITE AND ITS CONTENT ARE PROVIDED "AS IS." 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If you are an entitled government entity pursuant the Georgia Administrative Procedures Act, <a target="_new" href="http://links.casemakerlegal.com/states/GA/books/Code_of_Georgia/browse?ci=25id=gasos&amp;codesec=50-13-7&amp;title=50&amp;#50-13-7(d)">O.C.G.A.§ 50-13-7(d)</a> contact the State of Georgia's Administrative Procedures Division at 678-364-3785 to enable these features for your location.)</p> <p>To access this website, you must agree to the following: </p> <p> These terms of use are a contract between you and/or your employer (if any), and Lawriter, LLC. </p> <p> You agree not to use any web crawler, scraper, or other robot or automated program or device to obtain data from the website. </p> <p> You agree that you will not sell or license anything that you download, print, or copy from this website.</p> <p> THIS WEBSITE AND ITS CONTENT ARE PROVIDED "AS IS." 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Laws Act #395 (HB 84). The Board of the Georgia Department of Community Affairs ("the Department") through its resolution adopted on August 3, 2005, approved the adoption of regulations which will guide the Facilities Fund's operation.</P> <h2><a href="/GAC/110-25-1-.02" name="110-25-1-.02" title="110-25-1-.02">Rule 110-25-1-.02 Definitions</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.02(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The definitions for purposes of this regulation are identical in all respects to the terms defined in O.C.G.A. Sections <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=50-8-2&amp;title=50#" target="_newtab">50-8-2</a> and <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=50-26-4&amp;title=50#" target="_newtab">50-26-4</a>, as well as the following:</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.02(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"><B>Life-science company.</B> Life-sciences companies use biological processes to solve problems and make useful products for the improvement of health care (human and animal), food and agriculture, aquaculture, forestry, industrial production (such as chemicals, textiles, plastics, pulp and paper), energy production, environmental management (such as remediation and natural resource recovery) and national defense. Also included are companies that make the tools (from synthetic DNA and protein products to computer hardware and software) that support life-sciences industry research and development and the materials and systems for manufacture of life-sciences products. <P>Companies should be creating commercially promising technologies and higher quality jobs.</P> </td> </tr> </table> <h2><a href="/GAC/110-25-1-.03" name="110-25-1-.03" title="110-25-1-.03">Rule 110-25-1-.03 Purpose</a></h2> <P>The purpose of the Life Sciences Facilities Fund (the "Facilities Fund") is to serve as an incentive program to provide low-cost loan assistance for the purchase of fixed assets to eligible applicants that are being considered as a relocation or expansion site for a life-science company targeted by Georgia. The Facilities Fund is intended to be used as an incentive when needed to retain or recruit life-science companies in and to Georgia, or to fill a financing gap that is unmet by the private sector (including angel investors, venture capital, traditional commercial financing, developer financing, etc.) and when the health, welfare and economic security of the citizens of the state are promoted through the recruitment, development and retention of life-sciences companies that are creating higher quality jobs, making private investment in Georgia and creating marketable products.</P> <h2><a href="/GAC/110-25-1-.04" name="110-25-1-.04" title="110-25-1-.04">Rule 110-25-1-.04 Eligible Applicants</a></h2> <P>Eligible applicants and recipients of funds awarded under this program shall include, but not be limited to, general-purpose local governments (municipalities and counties), and component units of local governments and/or local government authorities and joint or multi-county development authorities. All local government units that are party to an application must be in compliance, where applicable, with the requirements regarding comprehensive planning (O.C.G.A. §§ <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=50-8-1&amp;title=50&amp;getbrowsepage=yes#" target="_newtab">50-8-1</a><I>et seq.</I>), report of local government finances (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-81-8&amp;title=36#36-81-8(b)" target="_newtab">36-81-8(b)</a>), local service delivery strategies (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-70-1&amp;title=36&amp;getbrowsepage=yes#" target="_newtab">36-70-1</a><I>et seq.</I>), government management indicators survey (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-81-8&amp;title=36#36-81-8(h)" target="_newtab">36-81-8(h)</a>), report of registered authority finances (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-81-8&amp;title=36#" target="_newtab">36-81-8</a>), and local government authorities registration (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-80-8&amp;title=36&amp;getbrowsepage=yes#" target="_newtab">36-80-8</a><I>et seq.</I>).</P> <h2><a href="/GAC/110-25-1-.05" name="110-25-1-.05" title="110-25-1-.05">Rule 110-25-1-.05 Fund Availability</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.05(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Funds appropriated or otherwise made available to the Department will be made available to eligible applicants for projects when a life-sciences company cannot locate or expand without special financial assistance.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.05(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> In addition to funds appropriated by the Legislature, additional funds may come from program income such as principal and interest on the LSFF loans or REBA loans that were designated for use by life-science companies. Program income may be used for future LSFF loans or to cover the Department's costs in managing the Facilities Fund.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.05(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Loans will be closed in either DCA's name or by the Georgia Housing and Finance Authority (or a subsidiary corporation thereof). Loans may be made to a development authority which will in turn loan the funds to the sub-recipient business, or loans may be made directly to the sub-recipient business.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.05(4)">(4)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Loans are not limited in amount, although generally the loan amount will not be more than 25% of the fixed-asset needs of the company's Georgia location. A recommended loan amount should be included in a letter of support from a state agency or organization whose statutory powers and duties include community and economic development or the enhancement of Georgia's technology sectors. (See Section <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=110-25-1.08&amp;title=110#110-25-1.08(3)" target="_newtab">110-25-1.08(3)</a>below.) Final approval of loan amounts is at the discretion of the Department.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.05(5)">(5)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The criteria in these rulesare designed to assist the Department in making its decision and only constitute minimum standards. Additional factors may be considered depending on the nature of particular projects and their relative merit compared to competing proposals, and depending on the availability of funding at the time of application.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.05(6)">(6)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The Department will establish and announce funding availability. Applications will be accepted throughout the fiscal year and will be reviewed based upon the criteria in Rules <a title="110-25-1-.08" href="110-25-1-.08">110-25-1-.08</a> and .09.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.05(7)">(7)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Eligible applicants must apply for assistance under this program in a format and manner described by the Department. Application manuals and guidelines may be obtained from the Department or its website: <P>Georgia Department of Community Affairs</P> <P>Life-Sciences Facilities Fund</P> <P>60 Executive Park South, NE</P> <P>Atlanta, Georgia 30329 (404) 679-4940</P> <P><a class="LinkOut" href="http://www.dca.state.ga.us" target="_blank">www.dca.state.ga.us</a></P> </td> </tr> </table> <h2><a href="/GAC/110-25-1-.06" name="110-25-1-.06" title="110-25-1-.06">Rule 110-25-1-.06 Eligible Activities</a></h2> <P>Loan funds may be used only for privately owned or publicly owned/privately leased fixed assets (i.e. land, buildings, leasehold improvements or machinery and equipment). Transactions may require the participation of a local-government development authority as a conduit for the loan funds.</P> <h2><a href="/GAC/110-25-1-.07" name="110-25-1-.07" title="110-25-1-.07">Rule 110-25-1-.07 Loan Terms</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.07(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Terms for the Loans, including interest rate, amortization, loan fees, collateral and other consideration, will be determined during the underwriting process based upon the nature of the assets financed, the needs of the sub-recipient business and the risk associated with the project. In general, funds will either be loaned directly to the subrecipient business or transferred to recipient local governments or authorities with conditions that determine the terms and covenants required in the loan to the sub-recipient business, including eligible uses, collateral requirements, and private-investment and job-creation commitments.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.07(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Generally, loans will be secured, at a minimum, by the assets to be financed, (e.g., via a UCC security interest, a leasehold deed to secure debt) and with other security (e.g. corporate guarantees) on an as-needed basis. The interest rates on the loans will generally be below market-rate financing as an incentive to move the project forward and to improve the company's cash flow; interest payments may be deferred until the end of the loan term.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.07(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If funds are passed through a local government authority, then that entity shall reimburse the total amount of the loan funds to the Department; provided, however, that the reimbursement obligation shall generally be limited to payments made by the Company under the loan. Reimbursement by the recipient shall be made in periodic payments in amounts equivalent to payments made by the Company under the loan, less any fees that might be agreed upon in writing between the recipient and the Department.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.07(4)">(4)</a></td> <td valign="top" style="text-align:left" class="leftalign"> All loan repayments, including interest, fees and principal repayments, shall be recaptured by DCA in the LSFF program fund to be reloaned to future eligible borrowers and to cover administrative costs of the program.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.07(5)">(5)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Generally, the terms of the loan shall contain at least one "triggering event" that will require the acceleration of the term of the loan. For example, a loan with a term of ten years may be accelerated to a three-year term in the event that the sub-recipient Company is acquired, has an initial public offering, or receives regulatory approval from a governing agency (e.g., the FDA or USDA).</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.07(6)">(6)</a></td> <td valign="top" style="text-align:left" class="leftalign"> In most cases, loans will contain terms requiring immediate and full repayment of the Loan balance if the company moves its operations out of Georgia, closes the LSFF-funded facility, is sold or liquidated. The Department also reserves the right to establish criteria for the recapture of loan funds upon transfer of project assets to an entity other than the sub-recipient business or upon any event that violates state law, the public purpose of the loan program, any of the loan conditions, or any intergovernmental contract provision. All recaptured funds must be returned to the Department unless otherwise specified by the Department.</td> </tr> </table> <h2><a href="/GAC/110-25-1-.08" name="110-25-1-.08" title="110-25-1-.08">Rule 110-25-1-.08 Threshold Requirements</a></h2> <P>(Application must meet all threshold requirements in order to be considered):</P> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.08(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The application is from an eligible applicant;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.08(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The proposed sub-recipient business is a life-sciences company;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.08(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> A letter of support and recommendation has been issued by a state agency or organization whose statutory or organizational 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;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.08(4)">(4)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The proposed use of funds is 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 and sub-recipient's enabling legislation and authority or corporate charter; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.08(5)">(5)</a></td> <td valign="top" style="text-align:left" class="leftalign"> 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. <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-70-1&amp;title=36&amp;getbrowsepage=yes#" target="_newtab">36-70-1</a><I>et seq.</I></td> </tr> </table> <h2><a href="/GAC/110-25-1-.09" name="110-25-1-.09" title="110-25-1-.09">Rule 110-25-1-.09 Review of Applications</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> All applications that meet the Threshold Requirements outlined in Section <a title="110-25-1-.08" href="110-25-1-.08">110-25-1-.08</a> will be reviewed to determine the merit of the applications and the proposed use of funds. Applicants and potential borrowers should follow the detailed guidelines set forth in the application package, paying special attention to the requirements for supporting documentation and the narrative description. Applications will be rated according to a point system with the maximum number of points available to an application being set at 500. In order to be funded, an application must receive a minimum score of 300 points. For all applications, the rating criteria may award up to 100 bonus points for projects that meet the bonus criteria outlined in Section <a title="110-25-1-.09(5)" href="110-25-1-.09#110-25-1-.09(5)">110-25-1-.09(5)</a>. Applications will be reviewed based upon enhancement of economic development opportunities and the project's contribution to the development of the State's life-sciences industry, including job creation, private investment and the creation of marketable products. The rating criteria are outlined below.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"><B>Project Feasibility </B>(<I>160 Points Maximum)</I><P>Applications will be awarded "feasibility" points according to the following scale: poor: 0.0 points; below average: 40.0 points; average: 80.0 points; good: 120.0 points; excellent: 160 points. In order to determine where on the feasibility scale a project ranks the following criteria, at a minimum, will be analyzed:</P> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)">A)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The proposed project and activities are clearly described and documented, and the responsibilities for carrying out each activity are clearly ascribed to a participating entity and each entity has firmly committed in writing to carry out its part. Project narrative (or some other document such as a business plan to be included with the application) should describe: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)i)">i)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's background, history and mission, including how long the principals have been involved, how the work has been funded thus far, and what has been accomplished in the last twelve months; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)ii)">ii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> qualifications of key management and scientific personnel; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)iii)">iii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the need or problem that the company's product addresses and the current state of available options to meet that need or problem (i.e., the market for the company's product including competition); </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)iv)">iv)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's proposed technology or product; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)v)">v)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the competitive advantage of the company's technology or product; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)vi)">vi)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the technical, scientific and commercial milestones for the company, at least through commercialization of a product; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)vii)">vii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the status of the company's intellectual property and whether the company has an established intellectual-property policy; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)A)viii)">viii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> any regulatory approvals that the company must obtain; and ix) the proposed costs for the project and the status of all funding sources.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)">B)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Underwriting analysis has determined that: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)i)">i)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's capitalization plan is sound and access to capital to sustain operations appears to be available; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)ii)">ii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the near-term commercialization potential is good and reasonably estimated; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)iii)">iii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's performance and standing is secure in the following areas: capital management, debt capacity, management character/experience, economic and market conditions; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)iv)">iv)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's proposed development or business plan uses reasonable assumptions; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)v)">v)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's development team (principals, officers, production and scientific leaders, developers, contractors, etc.) is committed and has a successful record in the proposed or a similar industry; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)vi)">vi)</a></td> <td valign="top" style="text-align:left" class="leftalign"> for real-estate projects, does the proposed development team have a successful record of accomplishment? The team may include the following: developer, contractor, architect, leasing agent, property manager, syndicator, construction manager, interim and permanent lenders; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)vii)">vii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the proposed business plan, marketing strategy and proforma are realistic; and </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)B)viii)">viii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company will be able to repay the loan.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)">C)</a></td> <td valign="top" style="text-align:left" class="leftalign"> When requested by the Department or the Georgia Department of Economic Development, Scientific vetting, as supported by a report from the Board of Regents, the Georgia Research Alliance or a similarly capable entity, has determined that: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)i)">i)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company has a sound scientific and technical base; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)ii)">ii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's product or service can reasonably be expected to develop a competitive position in the marketplace; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)iii)">iii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company's regulatory strategy is sound; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)iv)">iv)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the intellectual property of the company is strong; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)v)">v)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company has a reasonable timeline for research and development, raising capital, applicable regulatory approvals, commercialization of products, etc.; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)vi)">vi)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company has plans for manufacturing and marketing its product, whether in-house or with a partner; and </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)C)vii)">vii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> the company has a reasonable likelihood of obtaining regulatory approval (e.g., FDA, USDA) of its products (as applicable).</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)D)">D)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Project costs are verified through original source documents, architectural and engineering reports, or certified appraisals.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)">E)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Project readiness concerns are addressed (as applicable): <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)i)">i)</a></td> <td valign="top" style="text-align:left" class="leftalign"> engineering/architectural/environmental reports are complete; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)ii)">ii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> infrastructure/utility access issues; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)iii)">iii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> specific job and investment commitments have been made; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)iv)">iv)</a></td> <td valign="top" style="text-align:left" class="leftalign"> commitments to fund operations/maintenance, etc.; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)v)">v)</a></td> <td valign="top" style="text-align:left" class="leftalign"> other public and private sector investors are committed and ready to invest; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)vi)">vi)</a></td> <td valign="top" style="text-align:left" class="leftalign"> all needed real property is acquired or under option; </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)vii)">vii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> environmental, regulatory and liability concerns addressed (phase 1, government permits, etc.); </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)E)viii)">viii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> administrative capacity is adequate.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(2)F)">F)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Applicant certifies that project complies (or will comply) with all applicable federal, state, and local law and regulations.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"><B>Program Strategy </B>(<I>120 Points Maximum </I>) <P>Applications will be awarded "Strategy" points according to the following scale: poor: 0.0 points; below average: 30 points; average: 60 points; good: 90 points; excellent: 120 points. In order to determine where on the strategy scale a project ranks the following criteria, at a minimum, will be analyzed:</P> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)A)">A)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The proposed project will result in the enhancement of Georgia's life-sciences industry and the State's innovation economy;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)B)">B)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The proposed project will benefit from and/or enhance the state's research institutions;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)C)">C)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The proposed project is likely to lead to indirect local, regional or statewide impact by: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)C)i)">i)</a></td> <td valign="top" style="text-align:left" class="leftalign"> attracting related development/investment;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)C)ii)">ii) </a></td> <td valign="top" style="text-align:left" class="leftalign"> supporting/enhancing local or regional development strategies and priorities; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)C)iii)">iii)</a></td> <td valign="top" style="text-align:left" class="leftalign"> fostering partnerships between the private sub-recipient and Georgia's research universities, state colleges, or other Georgia businesses;</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)D)">D)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Financial and programmatic alternatives have been considered for the proposed project and eliminated;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)E)">E)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The project represents an innovative approach to the development and retention of employment opportunities in Georgia's life-sciences industry;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(3)F)">F)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The project has local support as evidenced by resolutions from the local government (City or County) and the local development authority that will be the conduit for the loan funds, if applicable.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)">(4)</a></td> <td valign="top" style="text-align:left" class="leftalign"><B>Project Impact </B>(<I>120 Points Maximum)</I><P>Applications will be awarded "Impact" points according to the following scale: poor: 0.0 points; below average: 30.0 points; average: 60.0 points; good: 90 points; excellent: 120 points. In order to determine where on the impact scale a project ranks the following criteria, at a minimum, will be analyzed:</P> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)A)">A)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The number and quality of jobs to be created or retained including workforce enhancement through higher-than-average wages, job training, skill upgrades, education, etc.;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)B)">B)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The amount of DCA and other state assistance per job created or retained;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)C)">C)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Amount of private leverage represents at least a 3-to-1 match of the Facilities Fund loan amount (any investments made in the company more than six months prior to submission of the Facilities Fund application, or issuance of pre-agreement cost approval, may not be counted toward the 3-to-1 match requirement);</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)D)">D)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The amount of public leverage;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)E)">E)</a></td> <td valign="top" style="text-align:left" class="leftalign"> New/retained taxes;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)F)">F)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Improved regional or state competitiveness;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)G)">G)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Potential secondary benefits; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(4)H)">H)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The diversification of local, regional or state economies through support of the life-sciences industry.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(5)">(5)</a></td> <td valign="top" style="text-align:left" class="leftalign"><B>Bonus Points </B>(<I>100 Points Maximum</I>) Applications may be awarded bonus points based upon a project's demonstration of exceptional benefits or partnerships such as: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(5)a)">a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Significant job-creation committed;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(5)b)">b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> An active partnership with a State research institution or success in a Georgia incubator;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(5)c)">c)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Serious potential for significant future investment in Georgia such as the location of a future manufacturing facility; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(5)d)">d) </a></td> <td valign="top" style="text-align:left" class="leftalign"> Significant and quantifiable regional cooperation or impact as evidenced by multi-jurisdictional cooperation through project ownership or a revenue- and cost-sharing agreement or other intergovernmental agreement that evidences significant cooperation between two or more counties.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(6)">(6)</a></td> <td valign="top" style="text-align:left" class="leftalign"><B>Proprietary information:</B><P>Georgia Law requires that "All public records of an agency as defined in subsection (a) of this Code section, except those which by order of a court of this state or by law are prohibited or specifically exempted from being open to inspection by the general public, shall be open for a personal inspection by any citizen of this state at a reasonable time and place; and those in charge of such records shall not refuse this privilege to any citizen" (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=50-18-70&amp;title=50#50-18-70(b)" target="_newtab">50-18-70(b)</a>). This means that past and current records on Facilities Fund projects and applications are required to be open for public inspection.</P> <P>However, certain proprietary information which is required to be included in an application and must be supplied by a business or developer in order to receive funds and which by law are prohibited or specifically exempted from being open to inspection by the general public (for example, information that constitutes a "trade secret" (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=10-1-740&amp;title=10&amp;getbrowsepage=yes#" target="_newtab">10-1-740</a><I>et seq.</I>; 16-8-13(a)(4)) is exempt from disclosure under O.C.G.A. section <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=50-18-70&amp;title=50#" target="_newtab">50-18-70</a>. Any information an applicant or sub-recipient business believes is exempt from disclosure must be clearly identified as such.</P> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.09(7)">(7)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The criteria in this rule (110-25-1) are designed to assist the Department in making a decision and only constitute minimum standards. Additional factors may be considered depending on the nature of particular projects and their relative merit compared to competing proposals and depending on the availability of funding at the time of application. Furthermore, in its review of applications, the Department may, at its discretion, consult with other individuals or agencies, such as the Georgia Department of Economic Development, the Georgia Research Alliance or the Board of Regents and related institutions, as appropriate for receiving advice. The decisions made by the Department shall be final and conclusive.</td> </tr> </table> <h2><a href="/GAC/110-25-1-.10" name="110-25-1-.10" title="110-25-1-.10">Rule 110-25-1-.10 Awarding of Funds</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.10(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Once selected for funding, awarded funds will be made available by the Department through an award contract incorporating by reference the approved final application and adding general conditions plus special conditions as necessary. Such special conditions shall include the terms and conditions of the loan to the sub-recipient business.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.10(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Because of the limited amount of funds available, the Department may also award an amount less than the amount requested in the application. Applicants will have thirty (30) days from the date of award to accept any special conditions and/or the reduced award amount. If the applicant fails to accept the special conditions or lower award amount within the required period, the Department may unilaterally withdraw the award.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.10(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The Department will prepare loan documents in consultation with the recipient's and company's attorneys.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.10(4)">(4)</a></td> <td valign="top" style="text-align:left" class="leftalign"> As part of the award conditions, the recipient must provide progress reports on the impact and performance of the project as required by the Department.</td> </tr> </table> <h2><a href="/GAC/110-25-1-.11" name="110-25-1-.11" title="110-25-1-.11">Rule 110-25-1-.11 Statement of Conditions</a></h2> <P>In addition to the certifications made on the face of the award statement, the recipient of funds must further certify that:</P> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> No applicable state laws, rules, regulations or applicable local ordinances shall be violated in carrying out this project and expending the Department's Life Sciences Facilities Fund monies.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Recipient's internally adopted procurement procedures meet applicable state requirements and will be adhered to and documentation shall be maintained to document such adherence.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Recipient's accounting records shall be maintained in a manner consistent with generally accepted government accounting standards and the Uniform Chart of Accounts established by the Department of Community Affairs (O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-81-3&amp;title=36#" target="_newtab">36-81-3</a>).</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(4)">(4)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If the Recipient is a development authority, then the project financed in part by Loan Fund monies shall only be leased or sold or administered as provided by O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-62-7&amp;title=36#" target="_newtab">36-62-7</a>, local constitutional amendment, local law passed by the legislature, or other general enabling legislation, as applicable.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(5)">(5)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Upon request of the Department, the Recipient shall submit copies of annual financial audits that cover all or part of the award period to the agency. These annual financial audits must be conducted in accordance with government auditing standards established by the comptroller general of the United States.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(6)">(6)</a></td> <td valign="top" style="text-align:left" class="leftalign"> No real or apparent conflict of interest shall be engaged in by any person or party (or any person or party with whom they have family or business ties) who is involved in any aspect of the Facilities Fund project. In general, no person who is an elected or appointed official, employee, agent, consultant, officer or any person serving in a similar capacity with any participating public agency that exercises or has exercised any functions or responsibilities with respect to any Facilities Fund activities can benefit from a Facilities Fund project. Those persons who are in a position to participate in a decision-making process or gain inside information regarding Facilities Fund proposed or related activities, who may obtain a personal, financial interest, or benefit from the project, or have any interest in any contract, subcontract or agreement with respect to any Facilities Fund project are also prohibited from benefiting from the project. The prohibitions against benefiting from a Facilities Fund project would apply to the covered individuals or those with whom they have family or business ties, for one year following their tenure in the covered position. <P><I>Exceptions - </I>Upon written request, the agent may grant an exception to the provisions of the above paragraph, on a case-by-case basis, before funds are expended. Exceptions can only be granted when the agent determines that the exception will serve to further the purposes of the Facilities Fund Program. To seek an exception, a written request for an exception must be submitted by the applicant to the agent which:</P> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(6)1)">1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Fully discloses the conflict or potential conflict of interest, prior to the applicant undertaking any action which results or may result in a conflict of interest, real or apparent; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(6)2)">2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Describes how the conflict of interest was publicly disclosed; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="110-25-1-.11(6)3)">3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Includes a written opinion of the applicant's attorney that the interest for which the exception is sought would not violate state or local law. <P>Should any statutory conflict-of-interest provision apply (e.g., O.C.G.A. § <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=36-62-5&amp;title=36#36-62-5(e)" target="_newtab">36-62-5(e)</a>), then evidence must be provided that the appropriate steps were followed to disclose and remedy the conflict of interest.</P> </td> </tr> </table> </td> </tr> </table> </div> </div> </HTML> </div> <div id="toc" class="sidebar noprint"> <ul id="toc-children" class="children"><li><a href="/GAC/110-25-1-.01" name="110-25-1-.01" title="110-25-1-.01">Rule 110-25-1-.01 Scope of Rule</a></li><li><a href="/GAC/110-25-1-.02" name="110-25-1-.02" title="110-25-1-.02">Rule 110-25-1-.02 Definitions</a></li><li><a href="/GAC/110-25-1-.03" name="110-25-1-.03" title="110-25-1-.03">Rule 110-25-1-.03 Purpose</a></li><li><a href="/GAC/110-25-1-.04" name="110-25-1-.04" title="110-25-1-.04">Rule 110-25-1-.04 Eligible Applicants</a></li><li><a href="/GAC/110-25-1-.05" name="110-25-1-.05" title="110-25-1-.05">Rule 110-25-1-.05 Fund Availability</a></li><li><a href="/GAC/110-25-1-.06" name="110-25-1-.06" title="110-25-1-.06">Rule 110-25-1-.06 Eligible Activities</a></li><li><a href="/GAC/110-25-1-.07" name="110-25-1-.07" title="110-25-1-.07">Rule 110-25-1-.07 Loan Terms</a></li><li><a href="/GAC/110-25-1-.08" name="110-25-1-.08" title="110-25-1-.08">Rule 110-25-1-.08 Threshold Requirements</a></li><li><a href="/GAC/110-25-1-.09" name="110-25-1-.09" title="110-25-1-.09">Rule 110-25-1-.09 Review of Applications</a></li><li><a href="/GAC/110-25-1-.10" name="110-25-1-.10" title="110-25-1-.10">Rule 110-25-1-.10 Awarding of Funds</a></li><li><a href="/GAC/110-25-1-.11" name="110-25-1-.11" title="110-25-1-.11">Rule 110-25-1-.11 Statement of Conditions</a></li></ul> </div> </div> <!--content ends here--> <div id="footer" class="noprint"><span class="footer">Copyright &copy; 2019 Lawriter LLC - All rights reserved.</span>| <a href="mailto:support@casemakerlegal.com?subject=Rules and Regulations of the State of Georgia">Email Us</a> | 844-838-0769 | <a href="http://livechat.casemakerlegal.com/client.php?locale=en" target="_blank" onclick="if(navigator.userAgent.toLowerCase().indexOf('opera') != -1 && window.event.preventDefault)window.event.preventDefault();this.newWindow = window.open('http://livechat.casemakerlegal.com/client.php?locale=en&url='+escape(document.location.href)+'&referrer='+escape(document.referrer), 'webim','toolbar=0,scrollbars=0,location=0,status=1,menubar=0,width=640,height=480,resizable=1');this.newWindow.focus();this.newWindow.opener=window;return false;">Live Chat</a> </div> </div> </body> </html>