The awarding authority shall include provisions in the contract with a recipient of economic development financial assistance for a threshold project that (1) require the recipient to use the assistance only for the purposes approved by the authority and (2) establish remedies in the event that the recipient does not use such assistance for such purposes. Such remedies may include, but shall not be limited to, liquidated damages. In the event the recipient breaches the contract by spending such financial assistance in a manner which violates the contract, the awarding authority shall seek enforcement of such remedies and provide no further financial assistance to the recipient until the breach is resolved.
(P.A. 94-231, S. 6, 9.)
History: P.A. 94-231 effective October 1, 1994, and applicable to applications for economic development financial assistance submitted on or after said date.
Structure Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 588u - Financial Assistance: General Provisions
Section 32-450. - Definitions.
Section 32-451. - Public policy objectives for threshold projects.
Section 32-452. - Information required for threshold projects.
Section 32-453. - Additional criteria for award of financial assistance.
Section 32-456. - Logs of pending requests for assistance.
Section 32-457. - Confidential or proprietary information or trade secrets.
Section 32-458. - Liabilities of applicants for financial assistance.
Section 32-459. - Return or use of unused grant awards.
Section 32-462a. - Authorization for financial assistance to Torrington Development Corporation.
Section 32-462b. - Authorization for financial assistance to the Steel Point project in Bridgeport.
Section 32-479. - Development of goals, objectives and outcome measures. Annual reports.
Section 32-480. - Encouragement of utilization of high performance work practices.