(a) The department shall ensure potential applicants have access to instructions that allow them to successfully qualify for the economic development set aside. The department shall ensure that it can respond to requests for grants as rapidly as possible. Once an economic development project award is approved by the director, a contract shall be executed and funds made available as soon as possible.
(b) Any program income received by a city or county grantee or its subrecipients, or any loan repayments made by a beneficiary to a grantee, shall be utilized by the city or county grantee for an activity currently eligible under federal law and regulations, provided that the department determines that the beneficiary or grantee has complied reasonably with the terms and conditions described in the contract between the grantee and the department.
(Amended by Stats. 2017, Ch. 96, Sec. 12. (SB 106) Effective July 21, 2017.)
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