The following guidelines are designed to assist applicants in submitting complete OneGeorgia EDGE Fund applications that meet the intent of the program. For further information about program intent, eligible activities and the rating and selection process, please read the EDGE Fund regulations and the application forms included with this application guidelines. Note that these guidelines are not meant to duplicate in their entirety the EDGE Fund regulations; rather, these guidelines are designed to highlight important program requirements and emphasize critical steps in the application process.
Guidelines for All EDGE Fund Applicants
- Please follow all application instructions and fill out all forms as completely as possible.
- Note that the application form may include an application checklist for Authority use. The checklist will assist the applicant in preparing as complete an application as possible. For any item requested in the application supporting documentation will strengthen the application, and, if not provided, may be requested by the reviewer if deemed necessary to arrive at a recommendation.
- All EDGE Fund applications must include a letter of support from a state agency whose statutory powers and duties include community and economic development, stating that the proposed project needs EDGE Fund assistance and will (if funded) develop, promote and/or retain trade, commerce, industry and employment opportunities within the state and promote the general welfare of the state.
- The EDGE Fund is designed to be a flexible economic development tool; however, resources for the program are limited. All applicants are urged to consider using EDGE Fund monies only when other funding is not available or not sufficient to address project needs. When other funding is available, whether public or private, the other available funding should be used to the maximum extent feasible. All potential applicants should seek the advice of the Authority prior to submitting an EDGE Fund application. If the Authority has advised a potential applicant to pursue another source of funding, the Authority will not consider an EDGE Fund application for the same project.
- All applicants should carefully read the EDGE Fund Regulations and the Statement of General Conditions. In addition to the Statement of Conditions, a grant award may be subject to additional special conditions at the discretion of the Authority. All grant recipients are subject to audit by the Department of Audits and to audit and monitoring by the Authority or its agents, in addition to being required to include EDGE Fund monies in their annual independent financial audit.
- The initiation of project activities prior to grant award could endanger EDGE Fund funding. While the EDGE Fund is flexible, initiation of project activities prior to grant award may indicate that EDGE Fund monies are not needed. Please check with the Authority as soon as it appears that such a situation may occur.
- All attached budget forms identify sources and uses of funds. The proposed specific use of EDGE Fund monies should be clearly identified as well as the use of other funds. All sources of funds should be identified. Sources of funds must equal uses. Prior to drawdown of funds or upon audit or monitoring of the EDGE Fund project, documentation will be required showing how EDGE Fund and other project funds have been spent. This information could include documentation of public ownership of project assets, invoices, or other evidence showing that EDGE Fund monies have been used as proposed.
- Eligible activities are listed in the EDGE Fund Regulations that are part of this guide. Generally, activities are eligible if they are listed in the regulations and if they assist an eligible applicant in carrying out its responsibilities under state law. Nonetheless, if activities other than public infrastructure are being planned, please contact the Authority to verify that proposed activities are eligible. Note that private ownership of project assets is not eligible under the EDGE Fund. (See the Regulations and Statement of Conditions for further information.) Generally, the Authority will require that the applicant’s leases of project assets to private users be of at least ten years duration. Copies of lease agreements must be submitted to the Authority for review prior to grant award or drawdown of funds.
- In general, no person who is an elected or appointed official, employee, agent, consultant, officer or any person serving in a similar capacity with any participating public agency who exercise or have exercised any functions or responsibilities with respect to any EDGE Fund activities may benefit from an EDGE Fund project. Those persons who are in a position to participate in a decision-making process or gain inside information regarding EDGE Fund proposed or related activities, who may obtain a personal, financial interest, or benefit from the project or have any interest in any contract, subcontract or agreement with respect to any EDGE Fund project are also prohibited from benefiting from the project. The prohibitions against benefiting from an EDGE Fund project would apply to the covered individuals or those with whom they have family or business ties, for one (1) year following their tenure in the covered position.
- Under certain circumstances, other funds may be used on an interim basis to finance a project for which EDGE Fund monies are being sought. EDGE Fund monies, if approved, may then be used to fund the project on a permanent basis. Nonetheless, all EDGE Fund requirements must be met, and the applicant must demonstrate that EDGE Fund monies are necessary to the project. In addition, the grantee will be required to document the source and use of all funds used in the project, including interim funds. All EDGE Fund applications must include information about any interim financing to allow the Authority to determine the eligibility of the proposed interim financing arrangements.
- Awards will be committed to competitive, time-sensitive projects when location decisions are pending. The Authority may deny approval of an application when the application is received after the company/project has, verbally or in writing, selected a location or made a commitment to a community.
- The Authority may establish other guidelines or requirements in order to further the purposes of the EDGE Fund.
- A public benefit analysis must accompany an application. The LOCI Level II analysis that can be performed by the Georgia Tech Economic Development Institute will generally satisfy EDGE Fund requirements for projects involving leasebacks to private businesses. Generally, assumptions in the analysis must include a reasonable discount rate and a time frame of ten years. Contact the nearest Georgia Tech Regional Office that serves your county or call the Authority for assistance. The Authority may need to help determine the applicable units of local government that should be included in the analysis. Applications should also include a schedule of projected State Income Taxes/Payments for the first 10 years and projected State Income Taxes from Payroll for the first 10 years of the project.
- For projects involving the location or expansion of a business, a local development authority will need to pass an inducement resolution in order to allow the project to proceed. The Authority requires the inducement resolution whether or not other project funds include bond financing. The inducement resolution should accompany the EDGE Fund application. Please contact the Authority for a copy of a sample inducement resolution that includes the necessary language.