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Oregon Revised Statutes Title 26A. Economic Development § 285B.637

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) The Oregon Business Development Department shall establish and administer the Oregon Industrial Site Readiness Assessment Program. The purpose of the program is to provide grants on a competitive basis from funds that are available in the Oregon Industrial Site Readiness Assessment Program Fund established in ORS 285B.640, to:

(a) Public owners of regionally significant industrial sites or public entities that have entered into development agreements or other agreements with private owners with respect to regionally significant industrial sites, to perform due diligence assessments, define development-related constraints and create detailed development plans to move the site toward a state of market-readiness; and

(b) Public owners of regionally significant industrial sites or public entities that have entered into development agreements or other agreements with private owners with respect to regionally significant industrial sites, acting on behalf of regions for the purposes of performing regional industrial land inventories and prioritizing sites for due diligence assessment and site preparation assistance.

(2) In each fiscal year of a biennium:

(a) Eighty percent of all moneys available for making grants under this section is reserved for grants to be made pursuant to subsection (1)(a) of this section; and

(b) Twenty percent of all moneys available for making grants under this section is reserved for grants to be made pursuant to subsection (1)(b) of this section.

(3) The department may prioritize grants to be made under this section based on established targets for regional allocations.

(4) Public owners of regionally significant industrial sites or public entities that have entered into development agreements or other agreements with private owners with respect to regionally significant industrial sites may apply to participate in the program by submitting an application in writing in a form prescribed by the department by rule.

(5) The department shall establish by rule criteria and standards for successful applicants under the program. At a minimum, the applicant must demonstrate that:

(a) For grants made under subsection (1)(a) of this section:

(A) The applicant has obtained a willing property owner;

(B) The applicant has received the support of the region in which the regionally significant industrial site is located, or the regionally significant industrial site is located in an area that has been designated a regionally significant industrial area as defined in ORS 197.722;

(C) The regionally significant industrial site is not currently market-ready and has not been certified by the department as ready for development within six months or less as of the date on which the application is submitted; and

(D) The applicant can provide matching funds in an amount to be determined by the department.

(b) For grants made under subsection (1)(b) of this section:

(A) The applicant is committed and has the ability to perform regional industrial land inventories for a specific region;

(B) The applicant is committed and has the ability to prioritize regionally significant industrial sites in a region for due diligence assessment and site preparation funding; and

(C) The applicant can provide matching funds in an amount to be determined by the department.

(6) Grants made under subsection (1)(a) of this section may not exceed $100,000 per site. Grants made under subsection (1)(b) of this section may not exceed $50,000 per region.

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Cite this article: FindLaw.com - Oregon Revised Statutes Title 26A. Economic Development § 285B.637 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-26a-economic-development/or-rev-st-sect-285b-637/

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