§ 30-32-5.1. Defense economy community reinvestment program.
(a) The purpose of this fund is to assist defense-dependent municipalities to develop and implement alternative economic diversification strategies that repurpose surplus defense facilities and properties. All funds appropriated for the purposes of this program are eligible to be used for matching of federal funds.
(b) The specific allocation of the funds shall be determined by the commerce corporation after consultation with the fund’s advisory board and within the following program guidelines:
(1) Eligible applicants include defense-dependent municipalities and regions and local economic development organizations located within such communities. The program shall be administered by the commerce corporation and grant awards may be provided to support community-based activities that:
(i) Assist communities in defense-dependent municipalities and regions to plan, analyze, and develop transitional strategies that maximize uses for surplus defense properties;
(ii) Diversify and further commercialize the local economy of a defense-dependent community; and
(iii) Encourage the development of public/private partnerships focused within the high-growth fields of information technology, cyber security, engineering, and advanced manufacturing.
History of Section.P.L. 2014, ch. 504, § 2; P.L. 2014, ch. 536, § 2.
Structure Rhode Island General Laws
Title 30 - Military Affairs and Defense
Chapter 30-32 - National Security Infrastructure Support Fund
Section 30-32-1. - Short title.
Section 30-32-2. - Establishment of fund.
Section 30-32-3. - Definition.
Section 30-32-4. - Administration of funds.
Section 30-32-5. - Military facility protection program.
Section 30-32-5.1. - Defense economy community reinvestment program.
Section 30-32-6. - Priority of funding.
Section 30-32-8. - National security infrastructure support fund advisory commission.