{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-2104","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-2104","heading":"Application form - Approval - Conditions of grant -","body":"Maximum amount - Matching funds - Time limit for completion of\n\nprojects.\n\nA. Communities making application for a grant from the\n\nIndustrial Facilities Development Fund shall use a form to be\n\nprescribed by the Oklahoma Department of Commerce.\n\nB. The Department shall have a period of sixty (60) days from\n\nthe date an application is received in order to evaluate the\n\napplication and to inform the applicant whether the application has\n\nbeen approved or rejected. If the application is rejected, the\n\nDepartment shall state the reason for the rejection.\n\nC. 1. Upon approval of an application, the Department shall\n\ncause the amount of the grant to be paid to the applicant. All\n\ngrants made pursuant to this act shall be paid to the community and\n\nshall not be paid directly to the legal entity engaged in the\n\nmanufacturing activity.\n\n2. The grant may only be used for the development,\n\nconstruction, or improvement of that portion of the project that\n\nwill be owned by the community or a public trust of which the\n\ncommunity is the beneficiary. Provided, however, the community or\n\nthe public trust, as the case may be, may enter into a lease\n\nagreement with an establishment for long-term usage of any portion\n\nof the project funded through a grant made pursuant to this act.\n\nD. No community shall be eligible for an award of a grant in\n\nexcess of One Hundred Fifty Thousand Dollars ($150,000.00) in any\n\none (1) fiscal year.\n\nE. The community making application for a grant shall\n\ndemonstrate in the application either that the community has already\n\nacquired at least twenty-five percent (25%) of the funds required\n\nfor the total project cost or that a legally enforceable commitment\n\nexists as of the application date which will result in the receipt\n\nof at least twenty-five percent (25%) of the funds required for the\n\ntotal project cost within ninety (90) days from the date the\n\napplication is received.\n\nF. Any project for which a grant is provided from the\n\nIndustrial Facilities Development Fund shall be completed within six\n\n(6) months from the date the grant is paid to the applicant pursuant\n\nto this section. If an industrial facility has not been completed\n\nwithin the time period prescribed by this subsection, the grant paid\n\nto the applicant shall be repaid to the Department and shall be\n\nredeposited into the Industrial Facilities Development Fund.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ae4106d0886a0d728f0bb1ec5d84d36bad76f603ea4b392ec39eeb4da3e7163f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-2103","next":"us-ok/okla.-stat.-tit.-62-62-2105"},"notice":"GroundRules: Original legal text. Not legal advice."}