Planning performance awards

Source Credit

(a) In general
The Secretary may make a planning performance award in connection with a grant made, on or after October 27, 2004, to an eligible recipient for a project under this subchapter located in an economic development district.
(b) Eligibility
The Secretary may make a planning performance award to an eligible recipient under subsection (a) in connection with a grant for a project if the Secretary determines before closeout of the project that—
(1) the recipient actively participated in the economic development activities of the economic development district in which the project is located;
(2) the project is consistent with the comprehensive economic development strategy of the district;
(3) the recipient worked with Federal, State, and local economic development entities throughout the development of the project; and
(4) the project was completed in accordance with the comprehensive economic development strategy of the district.
(c) Maximum amount
The amount of a planning performance award made under subsection (a) in connection with a grant may not exceed 5 percent of the amount of the grant.
(d) Use of awards
A recipient of a planning performance award under subsection (a) shall use the award to increase the Federal share of the cost of a project under this subchapter.
(e) Federal share
Notwithstanding section 3144 of this title, the funds of a planning performance award may be used to pay up to 100 percent of the cost of a project under this subchapter.
(f) Funding
The Secretary shall use any amounts made available for economic development assistance programs to carry out this section.

History

(Pub. L. 89–136, title II, §216, as added Pub. L. 108–373, title II, §211(a), Oct. 27, 2004, 118 Stat. 1765.)