(1) Regional investment strategies shall serve as a basis for state financial assistance to projects or activities to meet regional and rural economic development priorities. Each group of counties that forms a region shall submit a regional investment strategy that at a minimum shall include the following elements:
(a) An identification of short-term and long-term regional economic development priorities;
(b) An analysis of the unique or significant resources that provide the foundation for the regional investment strategy;
(c) An analysis of barriers to implementation of the regional investment strategy and an identification of the means to overcome those barriers;
(d) A rural action plan;
(e) A long-term plan to implement the regional investment strategy, including necessary actions by:
(A) Local governments;
(B) The private sector;
(C) State government; and
(D) Federal government;
(f) A six-year investment strategy that describes projects or activities to be undertaken or funded by the state from lottery proceeds and other sources. For a region that has a recognized regional partnership under ORS 285B.236, the projects or activities may include investment of all or part of the moneys received by the region from the Regional Investment Fund to provide moneys for the administration or financing of long-term or future economic development projects or activities;
(g) A plan for involvement of disadvantaged and minority groups in the region;
(h) Performance measurements for meeting the objective set forth in ORS 285B.236 (2). Each region shall develop an evaluation plan, as part of its regional investment strategy, for measuring and monitoring regional investment strategy performance. The evaluation plan shall include regional benchmarks for monitoring achievement of the regional investment strategies and priorities. When regional benchmarks are established, regional performance measures shall be determined after negotiation between the regional board and the Oregon Economic and Community Development Commission. The regional performance measures shall include goals for:
(A) Projected long-term and short-term job creation and retention activities, including the number of jobs created and retained and wage levels;
(B) Leveraging long-term investments; and
(C) Maximizing moneys leveraged with short-term investments;
(i) Periodic submission by the regional board of performance reports, in a form prescribed by the Economic and Community Development Department for regional investment strategies, to the county governing bodies in the region, the Oregon Economic and Community Development Commission and the Legislative Assembly; and
(j) An overall management plan and project or activity implementation strategy that demonstrates that a region has the capacity to allocate resources and insures that such resources are effectively used.
(2) Each regional board shall include a rural set aside consistent with the purposes and objectives of the Regional Investment Fund described in subsection (1)(f) of this section.
(3) In each biennium, a regional board may dedicate all or a portion of the moneys distributed to the board from the Regional Investment Fund for technical assistance and staff support for updating the regional investment strategy and for developing programs and projects. The regional board shall determine the amount of moneys dedicated to such purposes. [Formerly 285.637; 1999 c.509 §50; 2001 c.552 §2; 2003 c.773 §19; 2007 c.804 §64]
Section: Previous 285B.209 285B.212 285B.215 285B.218 285B.230 285B.233 285B.236 285B.239 285B.242 285B.245 285B.248 285B.251 285B.254 285B.257 285B.260 NextLast modified: August 7, 2008