Administrative Rules of Montana › Department 8 - COMMERCE › Chapter 8.99 - MONTANA OFFICE OF TOURISM AND BUSINESS DEVELOPMENT DIVISION › Subchapter 8.99.3 - Certified Regional Development Corporation Program › Rule 8.99.302 - CERTIFICATION OF REGIONAL DEVELOPMENT CORPORATIONS

Current through Register Vol. 13, July 5, 2024
(1) The following information shall be
				presented to the department by applicants that seek certification as a CRDC:
(a) an outline of the region the applicant is
				proposing to represent that includes a description of the communities, economy,
				demographics, and culture;
(b)
				evidence the applicant is a nonprofit corporation organized under applicable
				state and federal laws;
(c) a
				staffing plan that includes current job titles, job descriptions, and
				qualifications of primary personnel. At a minimum, the applicant is required to
				provide 4,160 hours of staff time annually to economic development activities,
				which must include at least 2,080 hours of professional economic development
				staff time.The applicant shall include a hiring plan or a contracting plan in
				meeting this requirement. For the purpose of this rule, economic development
				activities means work in the development and management of revolving loan
				funds, business technical assistance, state and federal grants and programs,
				local and regional planning, business retention and expansion programs, and
				business recruitment programs all directly related to regional strategic
				plans;
(d) documentation of the
				composition of board(s) of directors;
(e) evidence of financial stability that
				includes:
(i) a copy of the most recent
				audited or professionally reviewed financial statements of the applicant,
				including a supplemental schedule or other detailed information to specifically
				disclose the financial condition and results of operations of the
				applicant;
(ii) a proposed budget
				for the applicant that includes sources and uses of funds; and
(iii) any other information deemed necessary
				by the department to evaluate the financial stability of the
				applicant;
(f) evidence
				of matching funds, including those from local governments, in the ratio of $1
				for every $1 of assistance grants requested:
(i) matching funds for assistance grants
				shall be provided through existing or new cash from the applicant's
				administrative budget;
(ii) the
				assistance grant awarded may not displace existing funds in the applicant's
				administrative budget; and
(iii)
				any other information deemed necessary by the department to document the amount
				and source of matching funds;
(g) a plan based upon a comprehensive
				economic development strategic plan model for encouraging and organizing full
				participation in regional economic development activities, meetings, and
				projects in the region;
(h)
				evidence of written, broad-based support from the region;
(i) a plan for the development and
				publication of a five year strategic plan for the region;
(j) a plan for delivery of, and evidence of
				the ability to administer a revolving loan fund. To meet a minimum application
				threshold, the applicant shall include pertinent experience in the management
				of a revolving loan fund;
(k) a
				plan for delivery of, and evidence of the ability to provide business technical
				assistance. To meet a minimum application threshold, the applicant shall
				include pertinent experience in providing business technical
				assistance;
(l) evidence of the
				ability to apply for, facilitate, and manage state and federal grant and loan
				programs, in particular, department loan and grant programs;
(m) a plan for delivery of, and evidence of
				the ability to perform local and regional planning. To meet a minimum
				application threshold, the applicant shall include pertinent experience in
				local and regional planning;
(n) a
				plan for performance of a business retention and expansion program
				(optional);
(o) a plan for
				performance of a business recruitment program (optional); and
(p) any other information deemed necessary by
				the department for a complete review of an applicant's proposal for
				certification as a CRDC.