Sec. 15. (a) An eligible regional economic acceleration and development organization may submit an application to the corporation for a grant or loan from the fund.

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Terms Used In Indiana Code 5-28-41-15

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • eligible regional economic acceleration and development organization: means :

    Indiana Code 5-28-41-2

  • fund: refers to the READI fund established by section 7 of this chapter. See Indiana Code 5-28-41-3
  • regional economic acceleration and development strategy: refers to :

    Indiana Code 5-28-41-6

     (b) An application for a grant or loan from the fund must be made on an application form prescribed by the board.

     (c) An applicant shall provide all information required by this chapter.

     (d) All applications for a grant or loan from the fund must include a regional economic acceleration and development strategy that complies with the requirements of a policy established under section 16 of this chapter and contain at least the following:

(1) A comprehensive development plan and timeline.

(2) A detailed financial analysis that includes the commitment of resources and a return on investment analysis.

(3) A demonstration of the expected impact of the grant or loan on the region and state.

(4) Any other information the board considers appropriate.

     (e) An applicant for a grant or loan from the fund may request that information that may be excepted from disclosure under IC 5-14-3 that is submitted by the applicant be kept confidential.

As added by P.L.165-2021, SEC.64.

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