261—113.3 (15) Program funding.
	 113.3(1) The department shall award competitive grants to eligible community microenterprise development organizations. The maximum award shall not exceed $80,000 for any one community microenterprise development organization.
	 113.3(2) The department shall award grants to at least three community microenterprise development organizations in rural areas of the state that show an economic growth rate lower than the average economic growth rate of the state.
	 113.3(3) The department shall award grants to at least two community microenterprise development organizations in neighborhoods in urban areas of the state that show high rates of poverty and signs of economic distress.
	 113.3(4) The form of financial assistance shall be a grant.
[ARC 7764B, IAB 5/6/09, effective 4/17/09]