The Arizona Recoverable Grant Agreement (AREA) is a contractual funding arrangement provided by the state of Arizona to support various economic development projects. This agreement is designed to promote job creation, economic growth, and attract investments in key sectors of Arizona's economy. The main objective of the Arizona Recoverable Grant Agreement is to provide financial assistance to businesses to support their expansion or relocation projects within the state. These grants are typically awarded to companies that demonstrate the potential to create a significant number of high-quality jobs, contribute to the state's tax base, and advance Arizona's strategic economic development goals. The Arizona Recoverable Grant Agreement operates on a repayable basis, meaning that the awarded funds are expected to be repaid over time. However, the repayment terms are often flexible and may be linked to the achievement of agreed-upon performance milestones or economic indicators. This approach allows the state to recycle the funds received from successful projects and reinvest them in new economic development initiatives. There are several types of Arizona Recoverable Grant Agreements that cater to different types of businesses and economic development opportunities: 1. Job Training Grant Agreement: This agreement focuses on workforce development by providing funds to businesses for the training and upskilling of their employees. It aims to enhance the competitiveness of Arizona's workforce and create a more skilled labor pool. 2. Innovation Grant Agreement: This agreement targets businesses involved in research, development, and innovation activities. It aims to support projects that foster technological advancements, promote innovation-driven entrepreneurship, and strengthen Arizona's position as a hub for cutting-edge industries. 3. Infrastructure Grant Agreement: This agreement aims to improve and expand Arizona's infrastructure to attract new businesses and facilitate economic growth. Funding is provided to support projects related to transportation, utilities, broadband connectivity, and other public infrastructure enhancements. 4. Small Business Grant Agreement: This agreement specifically caters to small and medium-sized enterprises (SMEs) that demonstrate growth potential. It provides financial assistance to help these businesses expand their operations, develop new products or services, and foster job creation at a local level. In summary, the Arizona Recoverable Grant Agreement is a versatile funding mechanism that offers support to a wide range of businesses and economic development initiatives in Arizona. Whether it is job creation, innovation, infrastructure, or small business growth, AREA aims to fuel the state's economic prosperity and foster a favorable business environment.
Arizona Recoverable Grant Agreement
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How to fill out Arizona Recoverable Grant Agreement?
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2. $500,000 for each licensee. F. The liability of the fund for the acts of a licensed loan originator is terminated on the issuance of orders authorizing payments from the fund in an aggregate amount as prescribed by subsection E of this section.
The Recovery Fund is a form of financial protection provided by licensed Arizona residential contractors to residential homeowners. The Recovery Fund is governed by statute and available only to claimants who own and occupy, or intend to occupy, residential property.
Recoverable grant capital can serve the same purpose for a nonprofit organization. For example ? if a nonprofit is working to test a new, unproven solution to address climate change, they need access to patient risk capital to help them innovate and try new ways to address the problem.
Administrative Procedure for Recovery The claim must be filed within the relevant two-year statute of limitations, which is within two years after all proceedings, reviews and appeals connected with the Registrar's final order terminate per A.R.S. § 32-1133.01(G).
1. Thirty thousand dollars for each transaction, regardless of the number of persons aggrieved or the number of licensees or parcels of real estate involved. 2. Ninety thousand dollars for each licensee.
Recoverable grants are different from loans in that they are forgivable. Grantors may consider forgiving repayment under extraordinary circumstances, and in Echoing Green's case, are not repayable unless the recipient company is financially successful.
The maximum amount that can be claimed from Florida's Real Estate Recovery Fund is $50,000 per single transaction. An injured party can claim a maximum of $150,000 for multiple transactions; they can claim the unsatisfied portion of a judgment, whichever amount is less.
In addition to standard terms describing grant amounts and purposes, agreements also include provisions regarding intellectual property rights, reporting requirements, and indemnification, among other subjects. Special provisions are included that deal with international philanthropy.