Oregon Business Development Department
Chapter 123
Division 16
BUSINESS RETENTION FUND
123-016-0040
Application and Award Approval
(1) An eligible recipient, as listed in 123-016-0020(1), shall make application for business retention services to the department on a form prescribed and provided by the department.
(2) All applications shall be reviewed by the department. The department may also designate an advisory committee to review applications and make recommendations to the department.
(3) The department may request any additional information, such as an assessment or an appraisal, or may recommend a modification to the application in order to make a final determination on an award for business retention services from the Fund.
(4) Prior to making an award from the Fund for a for-profit business firm described in OAR 123-016-0020, the department will make a determination that business retention services are likely to result in retaining a viable operation.
(5) Prior to making an award from the Fund for a closed facility or for a facility that houses a business which has announced its closure, the department must determine:
(a) There is a reasonable probability of restarting or converting the facility; and
(b) The business retention services will include consideration of reemploying or continuing the employment of that facility's former or existing labor force.
(6) In making a determination on an award from the Fund, the department shall give preference to businesses, facilities that are closed, or facilities housing businesses which have announced their closure which are located in a distressed area as designated under OAR 123-024.
(7) The department shall either approve or deny an application.
Statutory/Other Authority: ORS 285A.075
Statutes/Other Implemented: ORS 285A.224
History:
EDD 12-2009, f. & cert. ef. 10-1-09
Reverted to EDD 13-1988, f. 5-24-88 (and corrected 5-27-88), cert. ef. 5-27-88
EDD 19-2008(Temp), f. 6-9-08 cert. ef. 6-10-08 thru 11-15-08
EDD 13-1988, f. 5-24-88 (and corrected 5-27-88), cert. ef. 5-27-88
EDD 4-1987(Temp), f. & ef. 10-1-87
EDD 10-1985(Temp), f. 11-7-85, ef. 10-22-85