RS 39:1484

A regional economic development organization may use grant funds only for qualified expenditures tied to economic development in its region, and it may not use awarded funds for salaries, travel, alcohol, or administrative property and equipment.

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Jurisdiction: United States — Louisiana
Instrument: Act or statute
Version: Undated source snapshot
Language: en
Official source: View official record ↗

grant funding use site development costs

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39:1484
RS 39:1484
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AI-assisted research summary: A regional economic development organization may use grant funds only for qualified expenditures tied to economic development in its region, and it may not use awarded funds for salaries, travel, alcohol, or administrative property and equipment.

§1484. Qualified expenditures A. A regional economic development organization shall only utilize grant funds to pay for qualified expenditures related to the furtherance of economic development within the region it represents. Qualified expenditures are limited to site development costs for publicly owned property or other property to the extent allowable under Article VII, Section 14 of the Constitution of Louisiana and other applicable state law. B. Site development costs include but are not limited to costs incurred for the following: (1) Studies. (2) Surveys. (3) Development of plans and specifications. (4) Entering into option agreements. (5) Infrastructure improvements. (6) Due diligence. (7) Remediation. (8) Wetland delineation. (9) Professional services for architectural, engineering, legal, construction, and financial services related to site development. C. Without limiting the provisions of Subsections A and B of this Section, a regional economic development organization shall not utilize any monies awarded pursuant to the provisions of this Chapter for any of the following: (1) Salaries, wages, or benefits. (2) Travel expenses incurred by the regional economic development organization's officers, employees, or contractors. (3) Alcohol. (4) Land, buildings, offices, equipment, or vehicles used primarily for the administrative operations of the regional economic development organization. Acts 2022, No. 556, §1, eff. June 17, 2022.

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RS 39:1484

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