Page:United States Statutes at Large Volume 122.djvu/1215

 12 2 STA T . 11 9 2 PUBLIC LA W 11 0– 2 34—M A Y 22, 200 8‘ ‘ (F)demonstra tea hi stor y, or in v o l ve or g ani z ations w ith a history, o f s uc cessful leveraging of ca p ital for eco - nomic development and pu b lic purposes ‘‘( G ) address gaps in e x isting basic services, including technology, within a region; ‘‘( H ) address economic diversification, including agri- cultural and non-agriculturally based economies, within a regional framewor k ‘‘( I ) improve the overall q uality of life in the region; ‘‘( J ) enhance the potential to expand economic develop- ment successes across diverse stakeholder groups within the region; ‘‘( K ) include an effective working relationship with 1 or more institutions of higher education, tribally controlled colleges or universities, or tribal technical institutions; ‘‘( L ) help to meet the other regional competitiveness needs identified by a R egional B oard; or ‘‘( M ) protect and promote rural heritage . ‘‘(f) USE S. — ‘‘(1) LE V E RAG E.— A Regional Board shall prioritize pro j ects and initiatives carried out using funds from a regional innova- tion grant provided under this section, based in part on the degree to which members of the Regional Board are able to leverage additional funds for the implementation of the projects. ‘‘( 2 ) PU R PO SES.—A Regional Board may use a regional innovation grant— ‘‘(A) to support the development of critical infrastruc- ture (including technology deployment and services) nec- essary to facilitate the competitiveness of a region; ‘‘(B) to provide assistance to entities within the region that provide essential public and community services; ‘‘( C ) to enhance the value-added production, marketing, and use of agricultural and natural resources within the region, including activities relating to renewable and alter- native energy production and usage; ‘‘( D ) to assist with entrepreneurship, job training, workforce development, housing, educational, or other quality of life services or needs, relating to the development and maintenance of strong local and regional economies; ‘‘( E ) to assist in the development of unique new collaborations that link public, private, and philanthropic resources, including community foundations; ‘‘(F) to provide support for business and entrepre- neurial investment, strategy, expansion, and development, including feasibility strategies, technical assistance, peer networks, business development funds, and other activities to strengthen the economic competitiveness of the region; ‘‘(G) to provide matching funds to enable community foundations located within the region to build endowments which provide permanent philanthropic resources to imple- ment a regional investment strategy; and ‘‘(H) to preserve and promote rural heritage. ‘‘( 3 ) AVA IL A B ILI TY O F FU ND S.— T he funds made available to a Regional Board or any other eligible grantee through a regional innovation grant shall remain available for the 7 - year period beginning on the date on which the award is provided, on the condition that the Regional Board or other

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