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8.99.301    DEFINITIONS

 

(1) The following definitions apply to this sub-chapter:

(a) "Applicant" means a private, nonprofit corporation that applies for certification as a CRDC by the department through a competitive process;

(b) "Assistance grant" means funds awarded by the department to a CRDC for administering economic development programs consistent with strategic plans adopted by a CRDC;

(c) "Business recruitment program" means the marketing of a community to businesses in specific industries best suited for a community;

(d) "Business retention and expansion program" means the assessment of the assets and opportunities of individual companies through periodic surveys, interviews and visitations to establish relationships and early warning systems to flag at-risk businesses that require assistance, and to ensure that public programs meet local business needs;

(e) "Certification" means the criteria and process by which an organization obtains certification for a period not to exceed seven years, annually maintains certification as a CRDC, and becomes eligible to participate in the certified regional development corporation program and to receive an assistance grant;

(f) "Certified regional development corporation (CRDC) " means a private, nonprofit corporation that has been certified by the department through a competitive process to manage and administer funds and programs for the department on a regional basis;

(g) "Community" means a county, an incorporated city or town, or an Indian reservation;

(h) "Council" means the economic development advisory council provided for in 2-15-1820, MCA;

(i) "Department" means the department of commerce provided for in 2-15-1801, MCA;

(j) "Local and regional planning" means a long-range planning process that encourages citizens to develop a mission statement, goals, strategies and actions used to prioritize the efforts of citizens and communities and guide the development of the economy of a region or a portion of a region;

(k) "Program" means the certified regional development corporation program provided for in 90-1-116, MCA;

(l) "Region" means one of not more than 12 service regions.  At a minimum, a service region must include two counties in their entirety;

(m) "Revolving loan fund" means a self-sustaining loan program that provides debt financing to eligible businesses to sustain or develop a region's economy; and

(n) "Technical assistance" means business-related assistance in a one-to-one setting.

History: Sec. 90-1-116, MCA; IMP, Sec. 90-1-116, MCA; NEW, 2003 MAR p. 2425, Eff. 10/31/03.

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