[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR308.3]

[Page 502]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 308--REQUIREMENTS FOR ECONOMIC ADJUSTMENT GRANTS--Table of Contents
 
                           Subpart A--General
 
Sec. 308.3  Use of Economic Adjustment grants.

    (a) Grants may be used to pay for developing a strategy to alleviate 
long-term economic deterioration or a sudden and severe economic 
dislocation, or to pay for a project in implementation of such a 
strategy.
    (1) Strategy grants may support developing, updating, or refining a 
strategy.
    (2) Implementation grants support activities identified in an EDA-
approved strategy. Specific activities may be funded as separate grants 
or as multiple elements of a single grant. Examples of implementation 
activities include:
    (i) Infrastructure improvements, such as site acquisition, site 
preparation, construction, rehabilitation and/or equipping of 
facilities;
    (ii) Provision of business or infrastructure financing through the 
funding of locally administered Revolving Loan Funds (RLFs), which may 
include interest rate buy downs;
    (iii) Market or industry research and analysis;
    (iv) Technical assistance, including organizational development such 
as business networking, restructuring or improving the delivery of 
business services, or feasibility studies;
    (v) Public services;
    (vi) Training (provided that it does not duplicate Department of 
Labor, Department of Education or other Federally-supported training 
programs), and
    (vii) Other activities as justified by the strategy which meet 
statutory and regulatory requirements.
    (b) Economic Adjustment grants may be spent directly by the grantee 
or redistributed to other entities.
    (1) Redistribution in the form of grants may only be to eligible 
recipients of grants under part 308.
    (2) Redistribution in the form of loans, loan guarantees, or 
equivalent assistance may be to public or private entities, including 
private for-profit entities.

[64 FR 5429, Feb. 3, 1999, as amended at 65 FR 2532, Jan. 18, 2000]