Adm 93.16(1)(1) An eligible local government that is awarded CDBG Housing or Economic Development funds, whether individually, as part of a regional group of such local governments, and whether directly or indirectly through a sub-grant recipient, may retain program income from all grants awarded to establish and capitalize a revolving loan fund to promote further housing or economic development activities as authorized by the Housing and Community Development Act of 1974. Any fund administered by a sub-grantee shall be subject to the limitations set forth in section 105 (a) (15) of the Community Development Act of 1974. A local government or regional group that establishes a revolving loan fund under this section shall further administer and use the fund in accordance with all applicable requirements established by the federal government and the department, and shall require the same of any fund administered by a sub-grantee. Adm 93.16(2)(2) Any local government, regional group, or sub-grantee administering a revolving loan fund shall report to the department on the use of such a fund as prescribed by the department. The department may establish a maximum amount of program income that may be retained in any revolving loan fund, and may establish a maximum amount of time for which funds may be held without use, either as a separate or as a combined limitation. Any amount of program income in excess of the maximum amount or time established by the department shall be immediately remitted to the department by the local government, regional group, or sub-grantee. Adm 93.16 HistoryHistory: EmR1309: emerg. cr. eff. 7-1-13; CR 13-069: cr. Register April 2014 No. 700, eff. 5-1-14. Adm 93.17Adm 93.17 Public facilities economic development program. Adm 93.17(1)(1) The department may award a grant to an eligible local government under the public facilities economic development program following consideration of some or all of the following: Adm 93.17(1)(c)(c) All sources of project financing will be committed prior to the disbursement of the grant. Adm 93.17(1)(e)(e) The project will likely retain or create jobs in this state. Adm 93.17(1)(f)(f) The local government will use the CDBG funds for one of the following purposes: Adm 93.17(1)(f)1.1. A public facilities project or other public infrastructure improvements to facilitate a business’s efforts to engage in job creation or retention activities under 24 CFR 570.483 (b) (4) designed to benefit low and moderate income persons. Adm 93.17(1)(g)(g) The local government will contribute at least 25% of the total cost of the project from funding sources other than grants from the federal and state government, subject to s. Adm 93.09 (1) (b). Adm 93.17(2)(2) When making a determination under sub. (1), the department shall consider all of the following: Adm 93.17(2)(a)(a) The extent of poverty and unemployment and other economic factors in the area of the project. Adm 93.17(2)(b)(b) The prospects for new investment and economic development in the area. Adm 93.17(2)(c)(c) The amount of investment that is likely to result from the project. Adm 93.17(2)(d)(d) The number of full-time jobs that are likely to be created or retained. Adm 93.17(2)(f)(f) The amount of wages and benefits to be provided by the business that will create or retain the full-time jobs. Adm 93.17(2)(g)(g) Whether the award will provide the business with an unreasonable competitive advantage over other similar Wisconsin businesses in the vicinity of the project. Adm 93.17(2)(h)(h) Whether the project will involve the relocation of a business and displacement of jobs from one municipality in Wisconsin to another municipality in Wisconsin. Adm 93.17(2)(i)(i) Whether the project will result in redevelopment of a brownfield site. Adm 93.17(2)(j)(j) Whether the project will result in the elimination of slum or blight. Adm 93.17 HistoryHistory: EmR1309: emerg. cr. eff. 7-1-13; CR 13-069: cr. Register April 2014 No. 700, eff. 5-1-14. Adm 93.18Adm 93.18 Job creation and retention requirements.