Rule 126-3-01 | All Ohio Future Fund.
With respect to All Ohio future fund funds used for site development purposes, the following applies:
(A) Definitions
(1) "Agency" means an agency responsible for securing the controlling board release of appropriation from the all Ohio future fund for purposes consistent with section 126.62 of the Revised Code.
(2) "Eligible applicant" means counties, transportation improvement districts, municipalities, townships, port authorities, community improvement corporations, conservancy and park districts or other similar park authorities, land reutilization corporations, nonprofit organizations, and organizations for profit willing to develop project-ready sites to improve the economic welfare of the people of the state of Ohio.
(3) "Eligible costs" are those costs associated with infrastructure including public roadwork, water, wastewater, design and engineering, demolition, wetland mitigation, utility connection, and other one-time site enhancement.
(4) "End user" means an entity or business operation with a new project to be located and have continuing operations in Ohio.
(B) Awards from the all Ohio future fund may be made either through loans or grants, as determined in the sole discretion of the agency, in consultation with the office of budget and management.
(C) An eligible applicant is to submit the application for financial assistance from the all Ohio future fund to the agency in the manner set forth by the agency, and include all of the following information:
(1) A demonstration of the applicants ability to undertake and successfully oversee the project;
(2) Proof that both the county and local government(s) in which the project would be located support the project, evidenced in writing signed by an official with authority to bind the applicable body;
(3) For eligible applicants that are private entities, a letter of commitment or similar document signed by a unit of government in which the project would be located, demonstrating intent to work in collaboration with the applicant on the project.
Collaboration may include, but is not limited to, changing or meeting zoning requirements, achieving a proposed timeline, and developing incentives to attract an end-user.
(4) A clear definition of the scope of the project that includes:
(a) An accounting of eligible costs and total project costs;
(b) Project site capacity targets;
(c) Either how the site will attract an end-user and the type of end-user the site will attract, or an end-user that has been identified and who is likely to use the site; and
(d) Any other information required by the agency.
(D) The agency will evaluate applications and award loans or grants from the fund. The agency is to consider:
(1) The strength of expected economic impact of a project site;
(2) The local communitys ability to support the project site;
(3) The quality of expected jobs created at the project site;
(4) The importance of the project site to the regions economic development;
(5) Public ownership and local control of land to be improved; and
(6) Any other factors deemed appropriate.
(E) The agency may recapture funds disbursed from the all Ohio future fund if an end-user is not under agreement to utilize the project site within five years of disbursement of the award.
(F) The agency is to include a requirement in the award agreement that the recipient submit periodic reporting (as determined by the agency) to the agency describing the status of the project. The agency is to submit an annual report of the funded projects statuses to the office of budget and management.
(G) The repayment of a loan from the all Ohio future fund will be adequately secured by a mortgage, assignment, pledge, lien, or other interest in property provided at such level of priority as the agency may require.
Last updated February 15, 2024 at 1:45 PM