(a) (1) A local economic development organization which owns a site may apply to the Department of Commerce for funding to solve an inadequacy involving the site. The application by the local economic development organization shall include at least one of the following:
a. If there is a pending expression of interest about the site from an industry or business, a list of the site preparation or public infrastructure work needed to make the site acceptable to the industry or business.
b. If the site has been offered to one or more industries or businesses but the offer did not result in the industry or business locating on the site, a list of the site preparation or public infrastructure work which, if it had been completed, would have made the site acceptable to the industries or businesses.
c. If the site is an industrial or research park which needs connections to interstates, highways, roadways, rail systems, or sewer, fiber, electrical, gas, or water infrastructure, a list of the site preparation or infrastructure work needed.
d. Capital improvements or economic development activities at an inland port or intermodal facility, as such terms are defined herein; provided that the application is accompanied by an economic impact report on such improvements or activities.
1. The term capital improvements shall mean construction and rehabilitation expenses of a capital nature at an inland port or intermodal facility, the dredging of waterways in the immediate vicinity of an inland port, and the expansion of onsite storage facilities at an inland port or intermodal facility.
2. The term economic development activities shall mean activities and initiatives which enhance the use of, and flow of goods through, an inland port or intermodal facility.
3. The term inland port means any port on a navigable river away from traditional land, air, and coastal borders.
4. The term intermodal facility means any facility which interconnects two or more different modes of air, rail, or road traffic serving multiple customers, and which involves storage facilities.
(2) An economic development organization may apply to the Department of Commerce for funding to undertake any of the following issues:
a. A marketing program to encourage persons trained in fields related to science, technology, engineering, or mathematics to remain in Alabama; provided that the application is accompanied by an economic impact report on such program;
b. The creation, operation, or support of an accelerator program for technology companies, as described in Section 40-18-376.3(c)(2); provided that the application is accompanied by an economic impact report on such program; or
c. The construction, maintenance, promotion, operation, management, leasing, and subleasing of an agricultural center which includes a multi-use facility and related commercial and non-commercial structures for livestock, equestrian, small animal shows and events, spectator events, trade shows, educational conferences, agricultural and agricultural-related industries, educational, demonstrational or training purposes, educational and training conferences or events, recreational vehicle rallies, recreational vehicle multi-day parking, hosting of corporate and non-corporate organization meetings, use as fair grounds, operation of retail activities, and other events and facilities expected to draw participants and spectators from states located across the southeastern United States, with a projected total annual economic impact upon completion of all phases of the agricultural center at least $35,000,000 and with the related and supporting infrastructure and facilities having a projected capital expenditure upon completion of all phases of the agricultural center of at least $100,000,000; provided that the application is accompanied by an economic impact report on the agricultural center.
(b) For any site preparation or public infrastructure work provided in subdivision (a)(1), the application shall include quotes for the completion of such work, following compliance with the procedures set forth by the Department of Economic and Community Affairs, as if the organization were disbursing state funds received from such department.
(c) The application provided in paragraph a. or b. of subdivision (1) of subsection (a) shall include an estimate of the number of jobs, wages, and capital investment which would have been undertaken by the industries or businesses referred to in paragraph a. or b. of subdivision (1) of subsection (a).
(d) The application provided in subsection (a) shall include proof that the economic development organization has in full force and effect a conflict of interest policy consistent with that found in the instructions to Form 1023 issued by the Internal Revenue Service.
(e) The application provided in subsection (a) shall include a notarized affirmation by an officer of the economic development organization that the submission of the application did not violate the conflict of interest policy referred to in subsection (d).
Last modified: May 3, 2021