(1) The Oregon Infrastructure Finance Authority may make grants, as funds are available, to any port formed under ORS Chapter 777 or 778 for:

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(a) A planning project conducted under ORS § 285A.627 or any other planning project necessary for improving the port’s capability to carry out its authorized functions and activities relating to trade and commerce; or

(b) A marketing project necessary for improving the port’s capability to carry out its authorized functions and activities relating to trade and commerce.

(2) Any port may file with the authority an application for a grant from the Port Planning and Marketing Fund to finance a specific planning project or marketing project.

(3) An application under this section shall be filed in such a manner and contain or be accompanied by such information as the authority may prescribe.

(4) Upon receipt of an application, the authority shall determine whether the planning project or marketing project is eligible for funding under ORS § 285A.654 to 285A.660. If the authority determines that the project is not eligible, it shall within 60 days:

(a) Reject the application; or

(b) Require the applicant to submit additional information as may be necessary.

(5) The authority may approve a grant for a planning project or a marketing project described in an application filed under this section if, after investigation, the authority finds that:

(a) The project meets the standards and criteria established by the authority for grant financing from the Port Planning and Marketing Fund; and

(b) Moneys in the Port Planning and Marketing Fund are or will be available for the project.

(6) Grants to ports under ORS § 285A.654 to 285A.660 shall not exceed $50,000 and shall not exceed 75 percent of the total cost of the project.

(7) The authority shall not fund any program that subsidizes regular port operating expenses.

(8) In lieu of all or part of the grant financing approved under ORS § 285A.654 to 285A.660 for a planning or marketing project, the authority may purchase goods or services to assist a port in implementing a project. [Formerly 285.857; 2001 c.883 § 7b; 2003 c.802 § 155; 2007 c.804 § 27; 2009 c.830 § 36]