Virginia Administrative Code › Title 13 - HOUSING › Agency 5 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Chapter 112 - ENTERPRISE ZONE GRANT PROGRAM REGULATION › Part V - Procedures for Qualifying for Real Property Investment Grant › Section 13VAC5-112-380 - Application submittal and processing

Current through Register Vol. 40, No. 24, July 15, 2024
A. In order to claim the grant an application
				  must be submitted to the department on prescribed forms. Applicants shall
				  provide other documents as prescribed by the department.
B. Local zone administrators must verify that
				  the location of the building or facility is in the enterprise zone in a manner
				  prescribed by the department.
C.
				  The accuracy and validity of information provided in such applications,
				  including that related to qualified real property investments are to be
				  attested to by an independent certified public accountant licensed in Virginia
				  through an agreed-upon procedures engagement conducted in accordance with
				  current attestation standards established by the American Institute of
				  Certified Public Accountants, using procedures provided by the department as
				  assurance that the firm has met the criteria for qualification prescribed in
				  this section.
D. In order to
				  request real property investment grants, zone investors shall submit the
				  application form, final attestation report, and all required documentation to
				  the department by no later than April 1 of the calendar year subsequent to the
				  qualification year.
E. If the
				  April 1 due date falls on a weekend or holiday, applications are due the next
				  business day.
F. Applications
				  submitted by April 1 without the required attestation report shall be
				  considered late applications and processed according to subsection H of this
				  section.
G. The department shall
				  notify zone investors in writing of any incomplete or missing required
				  documentation or request written clarification from the business firms on
				  information provided by no later than May 15. Zone investors must respond to
				  any unresolved issues by no later than June 1. If the department does not meet
				  its May 15 date for notification, then businesses must respond to any
				  unresolved issues within 10 calendar days of the actual notification.
H. Any applications with the
				  required final attestation report and required documentation submitted after
				  the April 1 due date but before May 15 of the calendar year subsequent to the
				  qualification year will be held until the department determines that funds
				  remain and it will not have to prorate grant awards. At such time, the
				  department will review and process such applications and any applications
				  pursuant to subsection F of this section on a first-come first served basis.
I. The department shall award real
				  property investment grants and notify all applicants by June 30 as to the
				  amount of the grant they shall receive.
J. Applications must be received by the
				  department, as specified by the department, no later than the date specified in
				  this section.
K. Applicants may
				  only apply for grants that they are otherwise eligible to claim for such
				  calendar year, subject to the limitations provided by 13VAC5-112-400.
Statutory Authority: § 59.1-541 of the Code of
						Virginia.