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'1 <br /> I <br /> I <br /> <br /> I <br /> I <br />'1 <br /> <br />I <br />I <br />I <br /> <br />%/15/84 [REVISOR ] RJ$/SB CCPJ4F2317 <br /> <br />economic development shall administer the economic recovery <br />9rant pro, ram as a ~art of the small cities development program. <br /> Subd. 2. [ECONOMIC RECOVERY GRANT DEFINED.] ~Economic <br />recovery grant' means an agreement between the state and an <br /> <br />eligible recipient through which the state provides money to <br />carry out specified programs, servicesr or activities designed <br />to create new emplo2~nentf maintain existing employment, increase . <br />the local tax base, or otherwise increase economic activity in a <br /> <br />9 community, <br />10 Subd. 3. [GRANT EVALUATION.] The division of community, <br />11 development in the department shall accep.t~ review, and evaluate <br />12 applications for grants to local units of government made in <br />13 accordance with rules adopted for economic development grants in <br />14 the small cities devel, opment program. Applications recommended <br />15 for fundinqr including recommended grant awards, shall be <br />16 submitted by the division to.the c. ommissioner for approval. <br />17 Subd. 4. [GRANT LIMITS.] An economic recovery grant may <br />18 not be approved for an amount over $506,000. The division may <br />19 recommend less funding than requested if, in the opinion of the <br />20 division, the amount requested is more than is necessary to meet <br />21 the applicant's needs. If the amount of the 9rant is reduced~ <br />22 the rb~sons for the reduction shall be given to the applicant. <br />23 The Dortion of an economic recover~ ~rant that exceeds $100,000 <br />24 must be repaid to the state when it is repaid to t. he local <br />25 communitl~ or recognized Indian tribal government by the person <br />26 or entity to which it ~as loaned blt the local community or <br />27 Indian tribal government. Mone~ repaid to the state is <br />28 appropriated to the commissioner of energy and economic <br />29 development for the purpose of making additional economic <br />30 recovery grants. <br />31 Sec. 109. Minnesota Statutes 1982, section 116J.88, is <br />32 amended by adding a -~ubdivi. sion to read: <br />33 Subd. da. [WASTE TIR~ RECYCLINO LOAN.] "Waste tire <br />34 ,recycling loan" means a loan to a business to ~inance <br />35 acquis.ition of land, buildings, or equipment~ installation of <br />36 equipment, construction of buildings, and capital improvements <br /> <br />91 <br /> <br /> <br />