West Virginia Code of State Rules Agency 120 - Economic Development Grant Committee
West Virginia Code of State Rules – Agency 120: Economic Development Grant Committee
contains the regulations governing the West Virginia Economic Development Grant Committee, which oversees the review and approval of grant applications for major economic development projects funded by state bonds or other sources.
🔹 Overview of Agency 120: Economic Development Grant Committee
This committee was created under West Virginia Code §29-22-18a in connection with the Video Lottery Act, which allowed certain proceeds to be used for economic development through grants. The Committee manages:
Evaluation of large-scale economic development project proposals
Disbursement of funds via bonds issued by the Economic Development Authority (EDA)
Oversight of compliance and performance standards tied to grant awards
📘 Likely Rule Series Under Agency 120
| Rule Series | Subject |
|---|---|
| 120-01 | Application Procedures – How and when to submit grant proposals |
| 120-02 | Project Evaluation Criteria – Economic impact, job creation, public benefit, and readiness |
| 120-03 | Grant Disbursement Rules – Timelines, match requirements, reporting duties |
| 120-04 | Compliance and Oversight – Monitoring performance, clawback provisions, and audits |
(Note: These specific rule numbers are representative. Exact titles may vary slightly in the current WV Code of State Rules.)
🏗️ Project Types Commonly Supported
Large-scale commercial developments (e.g., retail, tourism, hospitality)
Infrastructure and site preparation for new business investment
Projects with significant job creation and regional economic impact
🏛️ Legal Authority
Statutory Authority: WV Code §29-22-18a
Grants administered via: The West Virginia Economic Development Authority (EDA)
The Grant Committee acts independently to vet applications before EDA disburses bond-backed funds
📌 Key Grant Requirements (per enabling laws/rules)
A project must demonstrate:
Substantial public benefit
Long-term economic sustainability
Ability to match funds or attract private investment
Applications often require:
Feasibility studies
Evidence of financing
Job impact forecasts
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