§ 1053. Contracts for rural area revitalization projects. 1. The\ncorporation may, in the name of the state, enter into contracts with\nqualified applicants for the performance of rural area revitalization\nprojects.\n 2. The corporation may enter into a contract pursuant to this section\nonly if he determines that:\n (a) the region to be served is a portion of the rural area of the\nstate which is in need of revitalization and can benefit from a program\ncarried out by one or more locally based groups.\n (b) the applicant organization, or any predecessor organization, has\nhad appropriate experience in community preservation activities; that it\nhas, or shows that it can acquire, the capability and expertise to\nundertake successfully the proposed project; and that it is managed and\ndirected by persons representative of the region within which it\noperates.\n (c) the project or projects, alone or in combination with other\nproposed activities of the applicant or others, will be likely to\ncontribute in a significant way towards the revitalization and general\ncommunity renewal of the region.\n 3. Each contract pursuant to this section shall provide for payment by\nthe corporation for the activities to be carried out pursuant to the\ncontract. Such payment shall be based on the projected costs of such\nactivities and the other sources of funding which may be available to\nthe applicant (including, if applicable, funding pursuant to article\nseventeen of this chapter) from any source. Up to ten percent of the\nprogram or project cost may be used for the qualified applicant's\noperating expenses including expenses related to organization operating\nsupport and administration of the contract. The total state payment\npursuant to any one contract shall not exceed two hundred thousand\ndollars.\n 4. The contract shall provide for completion of the project within a\nreasonable period, as specified therein, which shall not in any event\nexceed two years from its commencement.\n 5. For any application for such a contract under this article, the\ncorporation shall provide the applicant with a list of conditions that\nmust be met prior to entering into a contract pursuant to this article.\nWithin fifteen working days of receipt by the corporation of all\ndocuments in satisfaction of the list, the corporation shall notify the\napplicant of the sufficiency or insufficiency of the documents. After\nsatisfaction by the applicant of all conditions required by the\ncorporation prior to entering into a contract the corporation shall\nenter into the contract within forty-five working days of satisfaction\nof such conditions.\n
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