Source: https://www.law.cornell.edu/cfr/text/13/301.4
Timestamp: 2017-06-29 14:18:57
Document Index: 14684486

Matched Legal Cases: ['art 301', '§ 301', '§ 301', 'art 303', 'art 303', 'art 303', 'art 306', 'art 306', 'arts 305', '§ 308', '§ 308', 'art 301', 'arts 300']

13 CFR 301.4 - Investment rates. | US Law | LII / Legal Information Institute
CFR › Title 13 › Chapter III › Part 301 › Subpart D › Section 301.4 13 CFR 301.4 - Investment rates.
§ 301.4 Investment rates.
(a)Minimum Investment Rate. There is no minimum Investment Rate for a Project.
(b)Maximum Investment Rate - (1)General rule. Except as otherwise provided by this paragraph (b) or paragraph (c) of this section, the maximum EDA Investment Rate for all Projects shall be determined in accordance with Table 1 in paragraph (b)(1)(ii) of this section. The maximum EDA Investment Rate shall not exceed the sum of 50 percent, plus up to an additional 30 percent based on the relative needs of the Region in which the Project is located, as determined by EDA.
(A)Relative needs. In determining the relative needs of the Region in which the Project is located, EDA will prioritize allocations of its Investment Assistance to ensure that the level of economic distress of a Region, rather than a preference for a specific geographic area or a specific type of economic distress, is the primary factor in allocating its Investment Assistance. In making this determination, EDA will take into consideration the following measures of economic distress:
(1) The severity of the unemployment rate and the duration of the unemployment in the Region;
(2) The per capita income levels and the extent of underemployment in the Region;
(3) The outmigration of population and the extent to which such outmigration is causing economic injury in the Region; and
(4) Such other factors as EDA deems relevant in determining the relative needs of the Region in which the Project is located.
(B) A Project is eligible for the maximum allowable Investment Rate as determined by EDA between the time EDA receives the application for Investment Assistance and the time that EDA awards Investment Assistance to the Project; however, the burden is on the Eligible Applicant to establish the relative needs of the Region in which the Project is located.
(ii)Table 1. Table 1 of this paragraph sets forth the maximum allowable Investment Rate for Projects located in Regions subject to certain levels of economic distress. In cases where Table 1 produces divergent results (i.e., where Table 1 produces more than one maximum allowable Investment Rate based on the Region's levels of economic distress), the higher Investment Rate produced by Table 1 shall be the maximum allowable Investment Rate for the Project.
Projects located in regions in which:
(A) The 24-month unemployment rate is at least 225% of the national average; or
(B) The per capita income is not more than 50% of the national average
(C) The 24-month unemployment rate is at least 200% of the national average; or
(D) The per capita income is not more than 60% of the national average
(E) The 24-month unemployment rate is at least 175% of the national average; or
(F) The per capita income is not more than 65% of the national average
(G) The 24-month unemployment rate is at least one percentage point greater than the national average; or
(H) The per capita income is not more than 80% of the national average
(2)Projects subject to a Special Need. EDA shall determine the maximum allowable Investment Rate for Projects subject to a Special Need (as determined by EDA pursuant to § 301.3(a)(1)(iii)) based on the actual or threatened overall economic situation of the Region in which the Project is located. However, unless the Project is eligible for a higher Investment Rate pursuant to paragraph (b)(5) of this section, the maximum allowable Investment Rate for any Project subject to a Special Need shall be 80 percent.
(3)Projects under part 303.
(i) The minimum Investment Rate for Projects under part 303 of this chapter shall be 50 percent.
(ii) Except as otherwise provided in paragraph (b)(3)(iii) of this section or in paragraph (b)(5) of this section, the maximum allowable Investment Rate for Projects under part 303 of this chapter shall be the maximum allowable Investment Rate set forth in Table 1 for the most economically distressed county or other equivalent political unit (e.g., parish) within the Region. The maximum allowable Investment Rate shall not exceed 80 percent.
(iii) In compelling circumstances, the Assistant Secretary may waive the application of the first sentence in paragraph (b)(3)(ii) of this section.
(4)Projects under part 306. Except as otherwise provided in paragraph (b)(5) of this section, the maximum allowable Investment Rate for Projects under part 306 of this chapter shall generally be determined based on the relative needs (as determined under paragraph (b)(1) of this section) of the Region which the Project will serve. As specified in section 204(c)(3) of PWEDA, the Assistant Secretary has the discretion to establish a maximum Investment Rate of up to 100 percent where the Project:
(5)Special Projects. Table 2 of this paragraph sets forth the maximum allowable Investment Rate for certain special Projects as follows:
Projects that involve broad Regional planning and coordination with other entities outside the Eligible Applicant's political jurisdiction or area of authority, under special circumstances determined by EDA, and Projects that effectively leverage other Federal Agency resources
Projects of Indian Tribes
Projects for which EDA receives appropriations under section 703 of PWEDA (
42 U.S.C. 3233
) and Projects to address and implement post-disaster economic recovery efforts in Presidentially Declared Disaster areas in a timely manner
Projects of States or political subdivisions of States that the Assistant Secretary determines have exhausted their effective taxing and borrowing capacity, or Projects of non-profit organizations that the Assistant Secretary determines have exhausted their effective borrowing capacity
Projects under parts 305 or 307 that receive performance awards pursuant to § 308.2 of this chapter
Projects located in a District that receive planning performance awards pursuant to § 308.3 of this chapter
(c) Federal Funding Opportunity announcements may provide additional Investment Rate criteria and standards to ensure that the level of economic distress of a Region, rather than a preference for a geographic area or a specific type of economic distress, is the primary factor in allocating Investment Assistance.
[ 71 FR 56675, Sept. 27, 2006, as amended at 73 FR 62865, Oct. 22, 2008; 75 FR 4262, Jan. 27, 2010; 79 FR 76125, Dec. 19, 2014]
Title 13 published on 04-May-2017 03:04The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 13 CFR Part 301 after this date.2016-11-14; vol. 81 # 219 - Monday, November 14, 201681 FR 79394 - Webinar on Notice of Proposed Rulemaking, Revolving Loan Fund Program Changes and General Updates to PWEDA Regulations
2014-12-19; vol. 79 # 244 - Friday, December 19, 201479 FR 76108 - Economic Development Administration Regulatory Revision
2012-02-08; vol. 77 # 26 - Wednesday, February 8, 201277 FR 6517 - Economic Development Administration Regulatory Revision; Comment Period Extension
typeregulations.gov FR Doc.2012-2743 RIN0610-XA08 Docket No.120202093-2093-01 DEPARTMENT OF COMMERCE, Economic Development Administration Notice of proposed rulemaking; extension of comment period. Comments must be received or postmarked if submitting by mail no later than 5 p.m Eastern Time on February 15, 2012. 13 CFR Parts 300, 301, 302, 303, 304, 305, 306, 307, 308, 310, 311, and 314 SummaryOn December 7, 2011, the Department of Commerce&apos;s Economic Development Administration (EDA) published a notice of proposed rulemaking (NPRM) in the Federal Register proposing and requesting public input on changes to EDA&apos;s operating regulations (76 FR 76492). EDA originally requested comments on the NPRM by February 6, 2012. From January 24, 2012 through February 1, 2012, EDA&apos;s Web site experienced technical difficulties, and the online feature for submitting comments on this rulemaking through EDA&apos;s Web site was unavailable. Although the other methods for submitting comments—the Federal eRulemaking Portal and regular mail to EDA&apos;s office—remained available during this period, EDA wants to ensure stakeholders have the maximum amount of time and optimal access to provide EDA with comments on its proposed regulatory changes. Therefore, EDA publishes this notice to extend the deadline for submitting comments on the December 7, 2011 NPRM to February 15, 2012.
13 CFR 306.3 — Application Requirements.
13 CFR 303.3 — Application Requirements and Evaluation Criteria.
13 CFR 305.3 — Application Requirements.
13 CFR 306.6 — Application Requirements.
13 CFR 307.18 — Addition of Lending Areas; Consolidation and Merger of RLFs.
13 CFR 308.1 — Use of Funds in Projects Constructed Under Projected Cost.