Economic Development

The maximum amount of RAIL grant funds that may be provided for any one project is $250,000. Notes 6 Miss. Code. R. 1-8.10 Miss. Code Ann. § 57-44-7 (Supp. 2008)

The State will release RAIL funds on a reimbursement basis for approved eligible costs of the project as incurred. The Applicant shall certify to MDA during construction that the expenses were incurred and were in accordance with the plans approved by MDA. Funds will be released …

Funds provided under RAIL are subject to audit by the State Department of Audit. Notes 6 Miss. Code. R. 1-8.12 Miss. Code Ann. § 57-44-7 (Supp. 2008)

The governing authority of a municipality or county must submit the application for assistance. The municipality or county may use the RAIL funds to provide loans to railroad corporations for freight rail service projects. Projects which are eligible for assistance must be for fr…

A. Construction costs (including reasonable and customary site work for buildings, right-of-ways, easements, etc.). B. Up to eight percent (8%) of the principal loan amount for design work, i.e., engineer or architect. Engineering and/or architectural costs above 8% will be paid …

A. The Applicant must be an incorporated municipality or a county. B. The Applicant may not purchase an existing building or facility for more than the appraised value. C. The Applicant may not acquire buildings or facilities from individuals, companies, or corporations with RAIL…

A. The Applicant's certified public accountant, auditor or fiscal officer must verify on official letterhead that the financials reflect the Applicant's ability to repay the loan. The verification must include the source of repayment, i.e., surcharge or other verifiable means of …

The cumulative maximum loan amount for any eligible local unit of government during a calendar year is $1,000,000. The terms of any loan must be reasonable, and shall not exceed 15 years. The loan amount allowed will be determined by the Applicant's ability to repay the loan with…

Local governments which fail to meet repayment obligations shall cause all or part of their sales tax allocation and/or homestead exemption reimbursement to be withheld and may be subject to other penalties. If the project has not begun within 90 days following loan approval, the…

Each month, invoices will be sent to communities with an active RAIL loan status. Payments are due on the first of each month. Failure to submit timely payments may result in the following procedures: A. If a community is 60 days delinquent, CSD may issue a letter stating the cat…

Projects that are eligible for assistance must be for freight rail service projects relating to the upgrading of railroad grade crossings. Only projects approved by the Mississippi Department of Transportation ("MDOT") shall be eligible for RAIL grants. The project approval proce…

The Advantage Mississippi Initiative was outlined and developed by Governor Ronnie Musgrove and enacted into law in August of 2000. The Advantage Mississippi Initiative is a blueprint to expand prosperity throughout our entire State. This Initiative includes not only new business…

The maximum amount of ACE funds, which may be provided for any one project, is $150,000. In most circumstances the Local Sponsor will be required to expend local funds before the State injects any proceeds into the project. Notes 6 Miss. Code. R. 1-9.10 Miss. Code Ann. § 57-1-16 …

A Grant Agreement will be executed between the Local Sponsor and MDA. The Grant Agreement cannot be executed until all required conditions in these guidelines have been met and all documentation received. Notes 6 Miss. Code. R. 1-9.11 Miss. Code Ann. § 57-1-16 (Rev. 2008)

MDA will release Ace funds on a reimbursement basis for approved eligible costs of the project as incurred. Funds will be released upon receipt of the Ace Form of Requisition and supporting documentation from the Local Sponsor. Funds may not be drawn down more frequently than mon…

Funds provided under Ace are subject to audit by the State Department of Audit. Notes 6 Miss. Code. R. 1-9.13 Miss. Code Ann. § 57-1-16 (Rev. 2008)

These guidelines may be amended by MDA at any time. MDA, in its discretion, may temporarily waive any requirement of the guidelines to the extent that the result of such waiver is to promote the public purpose of the Act and is not prohibited by State law. Notes 6 Miss. Code. R. …

Applications for assistance must be submitted by public or private nonprofit local economic development entities, including, but not limited to, chambers of commerce, local authorities, commissions or other entities created by local and private legislation or districts created pu…

Projects, which are eligible for assistance, must be related to the construction, renovation, or expansion of a new or expanded industry. Examples include construction of infrastructure, moving costs and other "transitional" costs. Notes 6 Miss. Code. R. 1-9.3 Miss. Code Ann. § 5…

Ace funds may not be used for working capital nor to provide funds related to a gaming enterprise. Notes 6 Miss. Code. R. 1-9.4 Miss. Code Ann. § 57-1-16 (Rev. 2008)

Eligible Projects should benefit the following types of industries: A. Manufacturing and processings B. Large distribution facility; C. Service support to agriculture, aquaculture, and mariculture; D. Service support to manufacturing and processings E. Telecommunications and data…

To be eligible for grants through the Ace Fund, a business or industry project must be classified as an "extraordinary economic development opportunity" and demonstrate that the business or industry is at an economic disadvantage by locating or expanding in the designated locatio…

An "extraordinary economic development opportunity" is defined as follows: New Jobs or Capital Investment Tier Three Counties 50 1,000,000 Tier One and Two Counties 100 2,000,000 Economic disadvantage may be determined by locating in a tier three county, or by proving that capita…

A local public or private fund, or in-kind match, is strongly encouraged. Notes 6 Miss. Code. R. 1-9.8 Miss. Code Ann. § 57-1-16 (Rev. 2008)

The application submitted by a Local Sponsor must include: A. The purpose of the proposed grant including a list of proposed expenditures and the cost of each. B. The estimated cost of the total project, a description of the Local Sponsor's investment in the project, and all publ…

A. The Mississippi Gulf Coast Restoration Fund (GCRF) Grant Program administered by the Mississippi Development Authority (MDA), is designed for making grants to finance projects to promote economic growth in the Gulf Coast region as defined by the federal RESTORE Act, or twenty-…

Grant Agreements executed by MDA shall have provisions for the repayment of funds by eligible applicants if the grant provided by MDA was based upon fraudulent information provided by the applicant or the applicant fails to meet performance metric requirements as described in the…

Applications for funding under Section 7 of the Act must be submitted to MDA via web portal prior to the application deadline each year. The web portal will be made available on MDA's website (www.mississippi.org) and will clearly state the application portal submission dates. Su…

The portal application will include the following: A. The name, address, and contact information of the applicant and the benefiting entity, if different; B. A detailed description of the project and a narrative explaining how the project relates to the statutory priorities of th…

Following the closure of the web portal, MDA will review, compile and score all applications and attachments submitted through the portal. MDA will provide all project information to the GCRF Advisory Board for its review and will take its recommendations on projects prior to MDA…

Upon GCRF funds being appropriated by the legislature, MDA will request project information for all appropriated projects. Once a completed project information packet is received and approved by MDA, a binding grant agreement will be executed between the Mississippi Development A…

All contracts and purchases must be made in accordance with normal bid and purchase laws of a local unit of government or other public entity if the grant is for a public purpose. Notes 6 Miss. Code. R. 11-1.15 Miss. Code Ann. § 57-119-1, et seq. Adopted 2/24/2019 Amended 11/4/20…

MDA encourages the maximum opportunity for increased participation by minority and women-owned business enterprises in the procurement of goods and services. MDA's Minority Business Division and the Mississippi Procurement Technical Center can assist with minority and women-owned…

A. All funds awarded must be spent for improvements within the scope of the project description as stated in the project information packet. B. MDA will reimburse applicants for eligible costs incurred for the project. C. All funded projects are required to begin within 12 months…

A. MDA must approve any request for a grant agreement amendment, modification, or extension. GCRF grant recipients must submit correspondence and documentation associated with the request, signed under the original signature of the chief elected official, appointed executive offi…

To comply with the Act's reporting requirements, GCRF grant recipients must submit a Quarterly Report to MDA no later than January 15th, April 15th, July 15th and October 15th of every year. MDA will provide the Quarterly Report form. The failure to submit Quarterly Report will r…

Eligible applicants include, but are not limited to, local units of government, nongovernmental organizations, institutions of higher learning, community colleges, public schools, ports, airports, public-private partnerships, private for-profit entities, private nonprofit entitie…

A. Funds provided under the GCRF are subject to audit by the Mississippi State Auditor's office. Additionally, MDA will also monitor all projects to ensure compliance with the original application submitted. All recipients must comply with requests from MDA regarding information …

A. The close-out process encompasses a series of activities to verify that GCRF funds have been properly spent and that all GCRF administrative actions and all required work on the project has been completed in a timely and acceptable manner. B. The close-out process should begin…

Maintaining an efficient filing system is critical to the administration and monitoring of a GCRF grant. A successful monitoring experience hinges on the quality with which the recipient maintains its filing system and the ease of obtaining information from those files. When esta…

These guidelines may be amended by MDA at any time. MDA, at its discretion, may temporarily waive any requirement of the guidelines to the extent that the result of such waiver is to promote the public purpose of the Act and is not prohibited by State Law. Program Contacts. With …

The intent of the Act is to stimulate growth and economic development in Pearl River, Stone, George, Jackson, Harrison, and Hancock counties. The GCRF Grant program is designed to support projects that will impact the competitiveness of these coastal counties and have a significa…

MDA, with advice from the Gulf Coast Restoration Fund Advisory Board, shall review, compile, and score all timely received applications submitted under Section 7 of the Act and shall present the applications and its recommendations for assistance to individual projects under Sect…

GCRF assistance may not be used to finance one hundred percent (100%) of the cost of any project; however, this limitation shall not apply to projects for public schools. All applicants, excluding public schools must provide a match of at least twenty percent (20%) of the total p…

MDA reserves the right to recover from applicants and recipients of GCRF funds a portion of the costs associated with administering assistance provided under the Act. Notes 6 Miss. Code. R. 11-1.6 Miss. Code Ann. § 57-119-1, et seq. Adopted 2/24/2019 Amended 11/4/2022

GCRF funds may pay for professional services (architectural/engineering fees, feasibility studies, geotechnical, permitting), property acquisition services (appraisal fees, land surveys), legal fees, loan fees, project management, advertising, marketing and PR fees; however, the …

All business applicants must be licensed to do business in the State by the Secretary of State's Office, as required by state statute. Notes 6 Miss. Code. R. 11-1.8 Miss. Code Ann. § 57-119-1, et seq. Adopted 2/24/2019 Amended 11/4/2022