(1) In the administration of the Government Resources Accelerating Needed Transformation Program, the department shall develop a scoring system for the project proposed by each grant applicant based on the total projected return on investment and the relative positive impact in the priority community.
(2) The scoring system shall include a:
(a) Score in each category as specified in subsection (3) of this section; and
(b) Total weighted score, which is the average of the scores in each category. (3) The scoring categories shall include but are not limited to:
(a) Projected return on investment the project will yield, which includes an assessment of the:
1. Likelihood of project completion both with the department’s funding and without;
2. Projected gross economic impact of the proposed project on the priority community;
3. Projected number of jobs created by the proposed project and subsequent impact on the priority community; and
4. Determination of the cost of the project based on the cost expended by the department if it awards the requested grant amount to the applicant; and
(b) Relative positive impact the project will have on the surrounding community.
Effective: June 29, 2023
History: Created 2023 Ky. Acts ch. 186, sec. 7, effective June 29, 2023.