Effective date: 7/5/1995

    (1) The minimum criteria to be used by the Department in identifying a project as facilitating rural agricultural economic development and the growth of Florida shall consist of satisfaction of the following:

Terms Used In Florida Regulations 5H-21.005

  • Quorum: The number of legislators that must be present to do business.
    (a) Each Project for Consideration must address the production of alternative crops, value-added processing and/or marketing or vocational training.
    (b) Each project must benefit agricultural development within agriculturally depressed areas of the state.
    (2) Prior to consideration by the Committee, Department staff shall review each Project to determine that the project will facilitate the agricultural economic development and growth of rural Florida.
    (3) Project Business Plans which are submitted for review by Department staff and the Committee shall, when applicable, contain the following format:
    (a) Executive Summary.
    (b) Project Description.
    1. Present Situation.
    2. Goals.
    3. Methods and Procedures Proposed to Reach Goals.
    (c) Organizational Setup.
    1. History of the Business Entity.
    2. Documentation.
    a. Articles of Incorporation.
    b. By-laws.
    3. Special Status (501(c)(3), Minority Business, Etc.).
    (d) Projected Schedule of Activities.
    (e) Management Plan — Description of Personnel.
    1. Resumes of Project’s “Leaders” (two-page maximum per resume).
    2. Job Descriptions of Proposed “Key Personnel”.
    3. Salaries and Compensation.
    (f) Actual or Proposed Facilities.
    1. Description.
    2. Location.
    3. Suitability (i.e., Advantages or Disadvantages).
    4. Cost to Build, Purchase or Rent.
    (g) Operations.
    1. Production Method.
    2. Equipment.
    (h) Marketing.
    1. Market Analysis.
    2. Marketing Plan.
    (i) Finances.
    1. Financial Statements — Previous, Present and/or Pro Forma (Three Year Historical and Three Year Pro forma, if applicable).
    a. Income Statement.
    b. Cash-Flow.
    c. Balance Sheet.
    2. Financial Commitment of Principals.
    (j) Economic Impact.
    (k) Proposed AED Assistance.
    1. Request for Financial Assistance.
    a. Amount and Specific Purposes.
    b. Estimates from Suppliers.
    2. Request for Non-Financial Assistance.
    a. Amount and Specific Purposes.
    b. Estimates from Suppliers or Consultants.
    3. Repayment Schedule.
    (4) The Department shall publish in the Florida Administrative Register, at least seven (7) days prior to Committee meetings, notification of the time and place the Committee shall meet. Such meetings shall be open to the public. The Department shall also provide prior notification of Committee meetings by mailing a notice to each applicant whose agricultural economic development project is to be considered.
    (5) The following criteria will be used by the Committee to evaluate agricultural economic development projects and to recommend funding by the Department:
    (a) The importance of the project to the financial well-being of farmers in the region or state.
    (b) The location of the project and its potential impact on the local and state economies. Projects are to be located in or directly benefiting agriculturally depressed areas, as defined in Florida Statutes § 570.242(1).
    (c) The amount of AED Program funds requested.
    (d) The amount of previous and new capital investment by the agribusiness relative to the amount of AED Program funds requested.
    (e) The absence or insufficiency of other funds to carry out the agricultural economic development project.
    (f) The number and type of new full-time or part-time permanent jobs to be created or retained by the agribusiness and the cost per job created relative to the amount of AED Program funds requested.
    (g) The number of principals directly benefiting from the project.
    (6) Three members of the committee present shall constitute a quorum. An affirmative vote of a majority of the quorum is required to recommend assisting a project.
    (7) The Department will determine the level of funding for any agricultural economic development project and may limit the amount of funds available during any time period to ensure future availability of funds for other projects of higher priority or to establish reserves in the AED Program Trust Fund.
Rulemaking authorized by Florida Statutes § 570.247. Implements Florida Statutes § 570.242, 570.247. History—New 12-31-91, Amended 7-5-95.