Subdivision 1. Eligible applicants. Any person, political subdivision, or port authority, that owns a commercial navigation facility, may apply to the commissioner for assistance under this chapter.
Subd. 2. Types of assistance. The commissioner may make loans to an eligible applicant if the commissioner determines that the project submitted by the applicant for assistance will serve either or both of the purposes stated in section 457A.02, subdivision 1, clauses (1) and (2). The commissioner may make grants, or a combination of grants and loans, to an eligible applicant if the commissioner determines that the project submitted by the applicant for assistance will serve either or both of the purposes stated in section 457A.02, subdivision 1, clauses (1) and (2), and will also enhance economic development in and around the commercial navigation facility being assisted.
Subd. 3. State participation; limitations. The commissioner may not provide any assistance under this chapter for more than 80 percent of the nonfederal share of any project. Assistance provided under this chapter may not be used to match any other state funds. The commissioner shall not assume continuing funding responsibility for any commercial navigation facility project.
1991 c 298 art 3 s 3; 1995 c 265 art 2 s 31