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The Oregon Administrative Rules contain OARs filed through June 15, 2014
 
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OREGON BUSINESS DEVELOPMENT DEPARTMENT

 

DIVISION 90

STRATEGIC RESERVE FUND

123-090-0000

Purpose

The Strategic Reserve Fund was established by the Oregon Legislative Assembly to support economic and community development in Oregon. Particular emphasis shall be placed on investments that assist communities, businesses or industries with cost effective projects that assist the creation, expansion, and preservation of traded sector industries of Oregon, and that encourage diversification and preservation of regional economies.

Stat. Auth.: ORS 285A.075
Stats. Implemented: ORS 285B.266
Hist.: EDD 26-1988(Temp), f. & cert. ef. 7-13-88; EDD 29-1988, f. & cert. ef. 8-30-88; EDD 7-2000, f. & cert. ef. 4-11-00; EDD 29-2009, f. 12-31-09, cert. ef. 1-1-10

123-090-0010

Definitions

For the purposes of these rules additional definitions may be found in Procedural Rules, OAR 123-001. For purposes of this division of administrative rules, unless the context demands otherwise:

(1) "Administrative Expenses" mean any agency expenditures included under the classifications of expenditures, except categories of debt service and special payments, which are prepared and prescribed for purposes of agency budget-making and accounting.

(2) "Community" means an area or a locality in which the body of inhabitants has common economic or employment interests. The term is not limited to a city, county or other political subdivision and need not, but may be, limited by political boundaries.

(3) "Fund" means the Strategic Reserve Fund established by ORS 285B.266.

(4) "Debt Retirement" means payment in full of the balance owed on the principal of a loan.

(5) "Debt Service" means the interest and charges currently payable on a debt, including principal payments.

(6) "Rural Area" means an area located entirely outside of the acknowledged Portland Metropolitan Area Regional Urban Growth Boundary and the acknowledged urban growth boundaries of the cities of 30,000 or more in population, including Albany, Bend, Corvallis, Eugene, Springfield, Salem, Keizer or Medford.

Stat. Auth.: ORS 285A.075
Stats. Implemented: ORS 285B.266
Hist.: EDD 26-1988(Temp), f. & cert. ef. 7-13-88; EDD 29-1988, f. & cert. ef. 8-30-88; EDD 6-1990(Temp), f. & cert. ef. 3-15-90; EDD 20-1990(Temp), f. & cert. ef. 6-28-90; EDD 23-1990, f. & cert. ef. 8-17-90; EDD 7-2000, f. & cert. ef. 4-11-00; EDD 29-2009, f. 12-31-09, cert. ef. 1-1-10

123-090-0020

Funding Eligibility

The Strategic Reserve Fund may be used to finance economic and community development projects that:

(1) Are reasonably expected to result in new jobs, job retention, or higher incomes for Oregonians;

(2) Provide assistance to businesses that are considering starting in, expanding in, or relocating to Oregon. Assistance will be reserved for projects that result in a significant long-term economic benefit for residents of the county in which the project will be located; or

(3) Serve as a catalyst for additional economic and community development benefits, or that will result in improved utilization of existing Oregon resources.

Stat. Auth.: ORS 285A.075
Stats. Implemented: ORS 285B.266
Hist.: EDD 26-1988(Temp), f. & cert. ef. 7-13-88; EDD 29-1988, f. & cert. ef. 8-30-88; EDD 7-2000, f. & cert. ef. 4-11-00

123-090-0030

Ineligible Expenditures

Strategic Reserve Funds will not be used to assist:

(1) Relocation of a business from one part of the state to another, except for businesses that would otherwise relocate outside Oregon. This restriction may be waived if the Director finds there is good and sufficient reason.

(2) The retirement or service of debt for any public or private entity; or

(3) The Department with any administrative expenses without legislative authorization.

Stat. Auth.: ORS 285A.075
Stats. Implemented: ORS 285B.266
Hist.: EDD 26-1988(Temp), f. & cert. ef. 7-13-88; EDD 29-1988, f. & cert. ef. 8-30-88; EDD 6-1990(Temp), f. & cert. ef. 3-15-90; EDD 20-1990(Temp), f. & cert. ef. 6-28-90; EDD 23-1990, f. & cert. ef. 8-17-90; EDD 7-2000, f. & cert. ef. 4-11-00; EDD 29-2009, f. 12-31-09, cert. ef. 1-1-10

123-090-0040

Director's Review

(1) Projects shall not be funded by the Fund unless the Director finds that:

(a) The Project is or will be supported by the maximum feasible amount of local and private financial participation;

(b) The Project will produce significant long-term, regional or statewide economic impacts;

(c) The Project will not require continuing state subsidies;

(d) The Project does not supplant private investment or duplicate or undermine similar efforts; and,

(e) The Project meets, or can be reasonably expected to meet, at least one of the following criteria:

(A) The Project uses existing human and natural resources to harness Oregon's economic comparative advantage;

(B) The Project promotes economic and community recovery in Rural or Distressed areas, or among populations suffering economic hardship;

(C) The Project creates, or leads to the creation or retention of jobs of higher income for Oregonians;

(D) The Project promotes the development of new national and international markets for goods and services produced in Oregon; or,

(2) If the Project affects land use, it must satisfy the applicable requirements of OAR chapter 123, division 8 of this Department.

(3) Funding decisions shall be made by either the Governor or the Director.

Stat. Auth.: ORS 285A.075
Stats. Implemented: ORS 285B.266
Hist.: EDD 26-1988(Temp), f. & cert. ef. 7-13-88; EDD 29-1988, f. & cert. ef. 8-30-88; EDD 20-1990(Temp), f. & cert. ef. 6-28-90; EDD 23-1990, f. & cert. ef. 8-17-90; EDD 7-2000, f. & cert. ef. 4-11-00; EDD 29-2009, f. 12-31-09, cert. ef. 1-1-10

123-090-0050

First Source Hiring

Any firm receiving an award of more than $100,000 through the Strategic Reserve Fund shall enter into a first source agreement in accordance with division 70 of this chapter of administrative rules.

Stat. Auth.: ORS 285A.075
Stats. Implemented: ORS 285B.266
Hist.: EDD 7-2000, f. & cert. ef. 4-11-00; EDD 7-2007, f. & cert. ef. 8-30-07; OBDD 3-2011, f. 6-30-11, cert. ef. 7-1-11

123-090-0060

Waivers

The Director may waive non-statutory requirements of this division of administrative rules if the project demonstrates a contribution to state job strategies consistent with the purpose of the Strategic Reserve Fund. Projects that improve the economic condition of a Rural or Distressed Area, or further global competitiveness of Oregon firms may receive special consideration by the Director.

Stat. Auth.: ORS 285A.075(5) & 285A.110
Stats. Implemented: ORS 285B.266
Hist.: EDD 7-2000, f. & cert. ef. 4-11-00; EDD 29-2009, f. 12-31-09, cert. ef. 1-1-10

The official copy of an Oregon Administrative Rule is contained in the Administrative Order filed at the Archives Division, 800 Summer St. NE, Salem, Oregon 97310. Any discrepancies with the published version are satisfied in favor of the Administrative Order. The Oregon Administrative Rules and the Oregon Bulletin are copyrighted by the Oregon Secretary of State. Terms and Conditions of Use

Oregon Secretary of State • 136 State Capitol • Salem, OR 97310-0722
Phone: (503) 986-1523 • Fax: (503) 986-1616 • oregon.sos@state.or.us

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