R856-1-8. Grant Amount, Award, and Required Contract

  (1) USTAR will have the discretion to determine the maximum amount of funding that may be awarded for each round of TAP based on available funds and quality of applicant pool.

  (2) USTAR reserves the right to award funding for any application in full or in part, to request additional information, or to reject any or all applications based on the eligibility and evaluation criteria set forth in these rules and according to the judgment and discretion of USTAR and the governing authority.

  (3) Upon award of the TAP grant, and prior to any disbursement of funds, Company must enter into a written agreement with USTAR governing the use of TAP grant funding.

  (4) Unless addressed in the terms and conditions of the written agreement between company and USTAR, the following provisions shall apply:

  (a) company must remain a Utah-based company for at least five years from initial disbursement of TAP funding;

  (b) company may not use TAP grant funding to provide a primary benefit to any state other than Utah; and,

  (c) for all other eligibility requirements, company must maintain eligibility status for the TAP program until the project is complete, all milestones have been met, final dispersant of funding has been made, and first year reporting has been completed.

  (5) Violations of Section R856-1-8(4) may result in the forfeiture of grant funding and may require repayment all or a portion of funds received as part of the TAP grant.