§ 63N-4-504 — Requirements for awarding a working hubs grant.

(1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the office shall make rules establishing the eligibility and reporting criteria for an entity to receive a grant under this part, including:
(1)(a) the form and process of submitting an application to the office for a grant;
(1)(b) which entities are eligible to apply for a grant;
(1)(c) the method and formula for determining grant amounts; and
(1)(d) the reporting requirements of grant recipients.
(2) In determining the award of a grant, the office may prioritize projects:
(2)(a) that will serve underprivileged or underserved communities, including communities with high unemployment or low median incomes;
(2)(b) where an applicant demonstrates comprehensive planning of the project but has limited access to financial resources, including financial resources from local or county government; and
(2)(c) that maximize economic development opportunities in collaboration with the economic development needs or plans of an educational institution, a county, and a municipality.
(3) Subject to legislative appropriation, a grant may only be awarded by the executive director.
(4) A grant may only be awarded under this part:
(4)(a) if the grant recipient agrees to provide any combination of funds, land, buildings, or in-kind work in an amount equal to at least 25% of the grant;
(4)(b) if the grant recipient agrees not to use grant money for the ongoing operation or maintenance of a coworking and innovation center; and
(4)(c) in an amount no more than $500,000 to a grant applicant.

Legislative History

Amended by Chapter 506, 2024 General Session