Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part V - Office of the Secretary › Chapter 2 - Governor's Economic Development Rapid Response Program › Section V-215 - General Award Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. In
				the event the secretary and the governor determine, in their discretion, that
				the award would be appropriate, an award agreement resulting from the expedited
				procedures for the award shall demonstrate the intent and commitments of the
				company, the public entity, and LED to enter into an award agreement consistent
				with the Constitution and laws of the state of Louisiana and with these rules.
1. An award agreement will be executed
				between LED and the award recipient, and may include as a party the public
				entity through which the funding is to be administered. The award agreement
				will specify the amount of the grant or loan award or loan guaranty, the terms
				and conditions of the award, the performance objectives expected of the company
				and/or the public entity, and the compliance requirements to be enforced in
				exchange for state financial assistance, including, but not limited to, the
				company's commitments and time lines as to the number of jobs to be created
				and/or retained and their compensation and payroll levels, and commitments and
				time lines for investment. Under the agreement, the public entity or LED will
				oversee the progress of the project. LED will disburse funds to the public
				entity and/or company in a manner determined by LED, and there shall be
				appropriate securitization of the award in a manner consistent with normal
				commercial practices.
2. Eligible
				project costs may include an advance of funds to provide the necessary
				commitment that will, in the opinion of the secretary, or LED and the governor,
				provide for the project and may include matters that in whole or in part
				provide for engineering and architectural expenses; costs associated with site,
				building and/or office space acquisition and/or leasing; site preparation
				costs; construction expenses; building materials; office expenses including
				furniture, fixtures, computers, consumables, transportation equipment, rolling
				stock or equipment; relocation or moving expenses; real estate fees,
				commissions, compensation or associated costs; training expenses, including
				pre-employment training, assessments, classroom training, on-the-job training,
				and other justifiable training expenses; and any other justifiable costs.
				Commitment to funding of these costs may be made, provided that the entity
				receiving these funds shall comply with the public bid laws to the extent that
				such laws are applicable.
3.
				Project costs ineligible for award funds include, but are not limited to,
				matters such as the refinancing of existing debt, public or private, and
				expenses already approved for funding through the General Appropriations Bill,
				or for cash approved through the Capital Outlay Bill, or approved for funding
				through the state's capital outlay process for which the Division of
				Administration and the Bond Commission have already approved a line of credit
				and the sale of bonds.
4. The
				secretary, or LED and/or the governor, may limit the amount of awards under
				this program to effect the best allocation of resources based upon the number
				of projects requiring funding and the availability of program funds.
5. Award funds will be available to the
				public entity and/or company on an as-needed reimbursement basis following
				submission to LED of required documentation (cost reports, and any supporting
				documentation, if requested by LED) as set forth in the award agreement between
				the parties.
6. Award funds will
				not be available for disbursement until:
a.
				the LED and the award recipient(s) have entered into an award agreement that is
				in fulfillment of these rules and is in accordance with the representations
				made by the applicant(s) for the award; and
b. confirmation is received that all closing
				conditions specified in the award agreement and any other necessary
				preconditions to the funding of the award or the implementation of the project
				have been satisfied.
7.
				The award recipient shall be required to submit progress reports, describing
				the progress toward the performance objectives specified in the award
				agreement. Progress reports shall include a review and certification of the
				company's hiring records and the extent of the company's compliance with
				contract employment commitments, including number of jobs created and/or
				retained, and the compensation or payroll levels achieved and maintained.
				Copies of the company's Louisiana Department of Labor (LDOL) ES-4 Forms
				("Quarterly Report of Wages Paid") filed by the company may be required to be
				submitted with periodic progress reports, cost reports, or as otherwise
				requested by LED to support the company's reported progress toward the
				achievement of performance objectives, employment and compensation or payroll
				level requirements. Further, either LED or the public entity (if a party to the
				award agreement) shall oversee the timely submission of reporting requirements
				of the company to LED.
8. In the
				event a party to the award agreement fails to meet its performance objectives
				as specified in its award agreement with LED, LED shall retain the rights to
				withhold award funds, modify the terms and conditions of the award, and to
				reclaim disbursed funds from the company and/or public entity in an amount
				commensurate with the scope of the unmet performance objectives and the
				foregone benefits to the state or as may be otherwise provided by the award
				agreement between the parties.
9.
				In the event an applicant or other person is reasonably believed to have filed
				a false statement in its application or in a progress report or other filing,
				the LED shall immediately notify the District Attorney of the Parish of East
				Baton Rouge and may also notify any other appropriate law enforcement personnel
				so that an investigation may be undertaken with respect to the application of
				state funds to the project.
10. LED
				shall retain the right to require and/or conduct financial and performance
				audits of a company, the public entity and/or project, including all relevant
				records, accounts and documents of the company and the public entity.