560.602(1) (1) A statement of the department's economic development policy that is consistent and coordinated with economic development policies expressed in the statutes and established by other state agencies.

560.602(5) (5) Provisions for the development of a biennial plan for awarding grants and loans under this subchapter, before the commencement of each odd-numbered fiscal year, and for the submission of the biennial plan to the governor and the chief clerk of each house of the legislature for distribution to the appropriate standing committees under s. 13.172 (3).

560.602 History History: 1991 a. 269.

560.605 560.605  Grant and loan criteria; generally.

560.605(1) (1) The board may award a grant or loan under s. 560.61 upon the receipt and consideration of an application by an eligible recipient for a project under ss. 560.62 to 560.66, if the board determines all of the following:

560.605(1)(a) (a) The project serves a public purpose.

560.605(1)(b) (b) The project will retain or increase employment in this state.

560.605(1)(c) (c) The project is not likely to occur without the grant or loan.

560.605(1)(d) (d) Financing is unavailable from any other source on reasonably equivalent terms.

560.605(1)(e) (e) Except as provided in s. 560.68 (6), the eligible recipient receiving the grant or loan will contribute, from funds not provided by this state, not less than 25% of the cost of the project.

560.605(1)(f) (f) The project meets all criteria set forth in s. 560.62, 560.63, 560.65 or 560.66, whichever is appropriate.

560.605(1)(g) (g) Funds from the grant or loan under s. 560.62, 560.63, 560.65 or 560.66 will not be used to pay overhead costs, except as provided in s. 560.65 (1m) (b), or to replace funds from any other source.

560.605(1)(h) (h) The project will not displace any workers in this state.

560.605(1)(i) (i) The eligible recipient has not received a grant under s. 560.25.

560.605(1)(p) (p) For an ethanol production facility on which construction begins after July 27, 2005, a competitive bidding process is used for the construction of the ethanol production facility.

560.605(2) (2) The board shall consider all of the following before awarding a grant or loan to an eligible recipient for a project under s. 560.62, 560.63 or 560.66:

560.605(2)(a) (a) The extent to which the project will retain or increase employment in this state.

560.605(2)(b) (b) The extent to which the project will contribute to the economic growth of this state and the well-being of the residents of this state.

560.605(2)(c) (c) Whether the project will be located in an area of high unemployment or low average income.

560.605(2)(d) (d) The financial soundness of the business.

560.605(2)(e) (e) The intention of the eligible recipient to repay the grant or loan.

560.605(2)(f) (f) Whether the project will be located in a targeted area.

560.605(2m) (2m) When considering whether a project under s. 560.62, 560.63 or 560.66 will be located in a targeted area, the board shall consider all of the following:

560.605(2m)(a) (a) Whether the area has high unemployment.

560.605(2m)(b) (b) Whether the area has a low median household income.

560.605(2m)(c) (c) Whether there is a high percentage of households in the area receiving aid to families with dependent children under s. 49.19.

560.605(2m)(d) (d) Whether there has been a significant decline in the population in the area.

560.605(2m)(e) (e) Whether property values in the area have been declining.

560.605(2m)(f) (f) Whether a significant number of workers in the area have been permanently laid off by their employers or whether public notice has been given by an employer of either a plant closing or a substantial reduction in work force that will result in a significant number of workers in the area being laid off permanently.