13:16-7 - Applications for and approval of grants to economic development agencies
13:16-7.Ā Applications for and approval of grants to economic development agencies
The commissioner is hereby authorized to make grants to recognized economicĀ development agencies, to assist such agencies in the financing of theirĀ operational costs for the purposes of making studies, surveys and investigations, the compilation of data and statistics and in the carrying out of planning and promotional programs:Ā Provided, that, before any such grant may be made:
(a) The economic development agency shall have made application to the commissioner for such grant, and shall have therein set forth the studies proposed to be made, the statistics, data and surveys proposed to be completed,Ā and the program proposed to be undertaken for the purpose of encouraging andĀ stimulating economic development in the county, municipality or region.Ā TheĀ application shall further state, under oath or affirmation, with evidenceĀ thereof satisfactory to the commissioner, the amount of funds held by,Ā committed or subscribed to the economic development agency for application toĀ the purposes herein described and the amount of the grant for which applicationĀ is made;Ā and
(b) The commissioner, after review of the application, if satisfied that theĀ program of the economic development agency appears to be in accord with theĀ purposes of this act, shall authorize the making of a matching grant to suchĀ economic development agency, not to exceed 50% of the funds allocated by theĀ agency to the program described in its application.
L.1966, c. 130, s. 7.
Ā
The commissioner is hereby authorized to make grants to recognized economicĀ development agencies, to assist such agencies in the financing of theirĀ operational costs for the purposes of making studies, surveys and investigations, the compilation of data and statistics and in the carrying out of planning and promotional programs:Ā Provided, that, before any such grant may be made:
(a) The economic development agency shall have made application to the commissioner for such grant, and shall have therein set forth the studies proposed to be made, the statistics, data and surveys proposed to be completed,Ā and the program proposed to be undertaken for the purpose of encouraging andĀ stimulating economic development in the county, municipality or region.Ā TheĀ application shall further state, under oath or affirmation, with evidenceĀ thereof satisfactory to the commissioner, the amount of funds held by,Ā committed or subscribed to the economic development agency for application toĀ the purposes herein described and the amount of the grant for which applicationĀ is made;Ā and
(b) The commissioner, after review of the application, if satisfied that theĀ program of the economic development agency appears to be in accord with theĀ purposes of this act, shall authorize the making of a matching grant to suchĀ economic development agency, not to exceed 50% of the funds allocated by theĀ agency to the program described in its application.
L.1966, c. 130, s. 7.
Ā