South Dakota Administrative Code

Rule 68:02:02:31 Default. 68:02:02:31. Default. If the borrower violates any of the terms of the loan agreement, the other loan documents, this chapter, or other applicable law, the board may declare the loan in default. Upon default, the board may do one or more of the following…

Rule 68:02:02:32 Delegation of administrative functions. 68:02:02:32. Delegation of administrative functions. The GOED shall perform the administrative functions of the creation, processing, and review of loan applications; the preparation and negotiation of loan agreements; the …

Rule 68:02:02:33 Official forms. 68:02:02:33. Official forms. The board may from time-to-time establish official forms of loan documents, including a loan agreement, promissory note, mortgage, security agreement, employment agreement, and such other documents, certifications, and…

Rule 68:02:02:34 Conflict of interest. 68:02:02:34. Conflict of interest. No member of the board or GOED staff may participate in or vote upon a decision of the board relating to an application or loan servicing action relating to a borrower in which that individual has a direct …

Rule 68:02:02:35 Confidentiality. 68:02:02:35. Confidentiality. The board and GOED shall, to the extent it constitutes or contains trade secrets or commercial or financial information relating to the operations of an applicant or borrower, maintain as confidential any documents, …

Rule 68:02:02:36 Pre-existing loans. 68:02:02:36. Pre-existing loans. Any loan made prior to September 13, 2007, shall be administered based upon the law in effect at the time the loan was approved by the board. Source: 34 SDR 68, effective September 13, 2007. General Authority: …

Rule 68:02:07:01 Definitions. 68:02:07:01. Definitions. Terms defined in SDCL 1-16G-56 have the same meaning in this chapter. In addition, terms used in this chapter mean: (1) "Applicant," any person that has completed an application for a reinvestment payment from the reinvestme…

Rule 68:02:07:02 Eligibility. 68:02:07:02. Eligibility. If the project costs for a new and expanded facility exceed the amounts specified in SDCL 1-16G-57, a person may apply for a reinvestment payment pursuant to this chapter. The person shall: (1) Timely file an application wit…

Rule 68:02:07:03 Reinvestment payment. 68:02:07:03. Reinvestment payment. The board may approve a reinvestment payment pursuant to SDCL 1-16G-59 as it deems appropriate based on the criteria set forth in this chapter. Source: 39 SDR 221, effective July 1, 2013. General Authority:…

Rule 68:02:07:04 Criteria. 68:02:07:04. Criteria. When making a decision on an application, the board shall, in addition to the factors required by SDCL 1-16G-59, consider the following: (1) Economic impact of primary jobs created or retained by the project; (2) Net economic effe…

Rule 68:02:07:05 Board action on application. 68:02:07:05. Board action on application. After GOED has received the completed application, the applicant may make a written request to GOED for the board to take action on the application. If requested by the applicant, the fact tha…

Rule 68:02:07:06 Acceptance and permit. 68:02:07:06. Acceptance and permit. Within 90 days of board approval of the application, the applicant shall accept the approval in writing or the approval is void. At the time of acceptance, the applicant shall either show it has complied …

Rule 68:02:07:07 Conditions of reinvestment payment. 68:02:07:07. Conditions of reinvestment payment. At the time the board takes action on an application, the board may impose requirements relating to employment, including the number of jobs created and the wages and benefits pa…

Rule 68:02:07:08 Application for modification. 68:02:07:08. Application for modification. If after receiving board approval of its application, a material change occurs in the information contained in the approved application, the applicant may apply to modify its approved applic…

Rule 68:02:07:09 Time restrictions on applicant. 68:02:07:09. Time restrictions on applicant. The construction date must be no later than six months after receiving a permit from GOED, however, the board may extend the time for the construction date at the time the board approves…

Rule 68:02:07:10 Affidavit for reinvestment payment. 68:02:07:10. Affidavit for reinvestment payment. The affidavit required by SDCL 1-16G-61 shall be made in the form prescribed by the commissioner and shall include a statement that the project, as completed, substantially confo…

Rule 68:02:07:11 Payment. 68:02:07:11. Payment. Within 90 days of receiving the completed affidavit for reinvestment payment and a determination by GOED that all terms and conditions imposed pursuant to this chapter have been met, GOED shall tender the reinvestment payment to the…

Rule 68:02:07:12 Delegation of administrative functions. 68:02:07:12. Delegation of administrative functions. The GOED shall perform the administrative functions of the creation, processing, and review of reinvestment payment applications; the creation, processing, and review of …

Rule 68:02:07:13 Access and reporting. 68:02:07:13. Access and reporting. An applicant shall grant GOED reasonable access to the project and to applicant's records, and provide such information, documentation and reports as GOED may require, for the purpose of determining complia…

Rule 68:02:07:14 Default. 68:02:07:14. Default. Any of the following constitutes a default upon the condition of a reinvestment payment: (1) If the person filing the affidavit for reinvestment payment knowingly makes any material false statement or report in the affidavit for rei…

Rule 68:02:07:15 Remedies. 68:02:07:15. Remedies. If there is a default pursuant to § 68:02:07:14 as determined by the board, within thirty days of written demand from the board, the project owner shall repay to GOED the reinvestment payment disbursed to the project owner. In add…

Rule 68:02:07:16 Conflicts of interest. 68:02:07:16. Conflicts of interest. No member of the board or the GOED staff may participate in or vote upon a decision of the board concerning an application relating to a project in which that member has a direct personal or financial int…

Rule 68:02:08:01 Definitions. 68:02:08:01. Definitions. Terms used in this chapter mean: (1) "Applicant," any nonprofit development corporation, tribal government, or any municipality, county, or other political subdivision of this state that has completed an application for an e…

Rule 68:02:08:02 Eligibility and permitted uses. 68:02:08:02. Eligibility and permitted uses. Any nonprofit development corporation, tribal government, or any municipality, county, or other political subdivision of this state may apply for an economic development partnership gran…

Rule 68:02:08:03 Application. 68:02:08:03. Application. Each application shall be made on the form prescribed by the commissioner, be signed by a duly authorized representative of the applicant, and submitted to GOED. The application shall be executed under penalties of perjury. …

Rule 68:02:08:04 Application periods. 68:02:08:04. Application periods. The board shall consider applications on a quarterly basis. Any application received by July 31st shall be considered by the board at the board's September meeting; any application received by October 31st sh…

Rule 68:02:08:05 Economic development partnership grant award. 68:02:08:05. Economic development partnership grant award. The board may award an economic development partnership grant as it deems appropriate based on the criteria set forth in this chapter. Source: 39 SDR 221, eff…

Rule 68:02:08:06 Criteria. 68:02:08:06. Criteria. When making a decision on an application, the board shall consider the character, experience, management record, and background of the applicant and the likelihood the grant award will result in: (1) High quality employment opport…

Rule 68:02:08:07 Conditions of economic development partnership grant. 68:02:08:07. Conditions of economic development partnership grant. The board may place conditions on any economic development partnership grant issued under this chapter in order to ensure substantial conformi…

Rule 68:02:08:08 Payment. 68:02:08:08. Payment. GOED shall tender payment of any economic development partnership grant awarded under this chapter within 30 days of the applicant providing the documentation required by GOED to establish it has complied with the terms and conditio…

Rule 68:02:08:09 Delegation of administrative functions. 68:02:08:09. Delegation of administrative functions. The GOED shall perform the administrative functions of the creation, processing, and review of economic development partnership applications; the creation, processing, an…

Rule 68:02:08:10 Access and reporting. 68:02:08:10. Access and reporting. An applicant shall grant GOED reasonable access to the applicant's records, and provide such information, documentation and reports as GOED may require, for the purpose of determining compliance with the co…

Rule 68:02:08:11 Default. 68:02:08:11. Default. Any of the following constitutes a default upon the conditions of an economic development partnership grant: (1) If the applicant knowingly makes any material false statement or report in the application; (2) Failure to secure the r…

Rule 68:02:08:12 Remedies. 68:02:08:12. Remedies. If there is a default pursuant to § 68:02:08:11 as determined by the board, within thirty days of written demand from the board, the applicant shall repay to GOED the economic development partnership grant disbursed to the applica…

Rule 68:02:08:13 Conflicts of interest. 68:02:08:13. Conflicts of interest. No member of the board or the GOED staff may participate in or vote upon a decision of the board concerning an application in which that member has a direct personal or financial interest. Source: 39 SDR …

Rule 68:02:09:01 Definitions. 68:02:09:01. Definitions. Terms used in this chapter mean: (1) "Applicant," any political subdivision of this state, tribal government, or local economic development corporation that has completed an application for a local infrastructure improvement…

Rule 68:02:09:02 Eligibility and permitted uses.. 68:02:09:02. Eligibility and permitted uses. Any political subdivision of this state, tribal government, or local development corporation may apply for a local infrastructure improvement grant pursuant to this chapter for the purp…

Rule 68:02:09:03 Application. 68:02:09:03. Application. Each application shall be made on the form prescribed by the commissioner, be signed by a duly authorized representative of the applicant, and submitted to GOED. The application shall be executed under penalties of perjury. …

Rule 68:02:09:04 Application periods. 68:02:09:04. Application periods. Except as otherwise directed by the board, the board shall consider applications on a quarterly basis. Any application received by July 31st shall be considered by the board at the board's September meeting; …

Rule 68:02:09:05 Local infrastructure improvement grant award. 68:02:09:05. Local infrastructure improvement grant award. The board may award a local infrastructure improvement grant as it deems appropriate based on the criteria set forth in this chapter. Source: 39 SDR 221, effe…

Rule 68:02:09:06 Criteria. 68:02:09:06. Criteria. When making a decision on an application, the board shall consult with appropriate state agencies to evaluate the feasibility and merits of the proposed infrastructure improvements, consider the economic impact of the economic dev…

Rule 68:02:09:07 Conditions of local infrastructure improvement grant. 68:02:09:07. Conditions of local infrastructure improvement grant. The board may place conditions on any local infrastructure improvement grant issued under this chapter in order to ensure substantial conformi…

Rule 68:02:09:08 Payment. 68:02:09:08. Payment. GOED shall tender payment of any local infrastructure improvement grant awarded under this chapter within 30 days of the applicant providing the documentation required by GOED to establish it has complied with the terms and conditio…

Rule 68:02:09:09 Delegation of administrative functions. 68:02:09:09. Delegation of administrative functions. The GOED shall perform the administrative functions of the creation, processing, and review of local infrastructure improvement applications; the creation, processing, an…

Rule 68:02:09:10 Access and reporting. 68:02:09:10. Access and reporting. An applicant shall grant GOED reasonable access to the project and the applicant's records, and provide such information, documentation and reports as GOED may require, for the purpose of determining compli…

Rule 68:02:09:11 Default. 68:02:09:11. Default. Any of the following constitutes a default upon the conditions of a local infrastructure improvement grant: (1) If the applicant knowingly makes any material false statement or report in the application; (2) Failure to adhere to the…

Rule 68:02:09:12 Remedies. 68:02:09:12. Remedies. If there is a default pursuant to § 68:02:09:11 as determined by the board, within thirty days of written demand from the board, the applicant shall repay to GOED the local infrastructure improvement grant disbursed to the applica…

Rule 68:02:09:13 Conflicts of interest. 68:02:09:13. Conflicts of interest. No member of the board or the GOED staff may participate in or vote upon a decision of the board concerning an application in which that member has a direct personal or financial interest. Source: 39 SDR …

Rule 68:02:10:01 Definitions. 68:02:10:01. Definitions. Terms used in this chapter mean: (1) "Applicant," any person that has completed a REDI fund grant application; (2) "Board," the Board of Economic Development; (3) "Commissioner," the commissioner of the Governor's Office of …

Rule 68:02:10:02 Eligibility. 68:02:10:02. Eligibility. A person may apply for a South Dakota Jobs grant pursuant to this chapter for a project as defined in § 68:02:10:01(10). The person shall: (1) Timely file an application with GOED as required by § 68:02:10:03; (2) Request th…