16-8-150  Administration.
   (a)   The department shall administer the Industrial Corridor System Fund and all projects funded under this chapter. Any grant or loan of funds for a private project shall require city council approval and shall be subject to jobs covenants and other covenants, conditions and restrictions to ensure that the funds are devoted to the purpose described in this chapter.
   (b)   The commissioner is authorized to prescribe application forms and other forms necessary to collect relevant information concerning participants and projects utilizing the Industrial Corridor System Fund, and to adopt such rules as the commissioner may deem necessary for the proper implementation, administration, and enforcement of this chapter, including without limitation, rules setting forth criteria and guidelines for the selection of projects and disbursement of funds in a fair and equitable manner. The commissioner is further authorized, subject to the availability of duly appropriated funds, to negotiate and enter into contracts from time to time with outside providers to assist in administering this chapter. The contracts authorized by this section may contain terms that the commissioner determines to be reasonable and appropriate, including terms governing reasonable compensation.
   (c)   The commissioner shall post on the department's website an annual report detailing the receipt and expenditure of funds from the Industrial Corridor System Fund.
(Added Coun. J. 7-26-17, p. 53898, § 1)