[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR308.2]

[Page 633]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 308_PERFORMANCE INCENTIVES--Table of Contents
 
Sec.  308.2  Performance awards.

    (a) A Recipient of Investment Assistance under parts 305 or 307 of 
this chapter may receive a performance award in connection with an 
Investment made on or after the date of enactment of section 215 of 
PWEDA in an amount not to exceed ten (10) percent of the amount of the 
Investment award.
    (b) To receive a performance award, a Recipient must demonstrate 
Project performance in one (1) or more of the areas listed in this 
paragraph, weighted at the discretion of the Assistant Secretary:
    (1) Meet or exceed the Recipient's projection of jobs created;
    (2) Meet or exceed the Recipient's projection of private sector 
capital invested;
    (3) Meet or exceed target dates for Project start and completion 
stated at the time of Investment approval;
    (4) Fulfill the proposal evaluation criteria set forth in Sec.  
301.8 of this chapter; or
    (5) Demonstrate other unique Project performance characteristics as 
determined by the Assistant Secretary.
    (c) A Recipient may receive a performance award no later than three 
(3) years following the Project's closeout.
    (d) A performance award may fund up to one hundred (100) percent of 
the cost of an eligible Project or any other authorized activity under 
PWEDA. For the purpose of meeting the non-Federal share requirement of 
PWEDA or any other statute, the amount of a performance award shall be 
treated as non-Federal funds.
    (e) The applicable FFO will set forth the requirements, 
qualifications, guidelines and procedures for performance awards to be 
made during the applicable fiscal year, with all performance awards 
being subject to the availability of funds.

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