261—113.8 (15) Contract and reporting.
	 113.8(1) Notice of award. Successful applicants will be notified in writing of an award of financial assistance, including any conditions and terms of the approval.
	 113.8(2) Contract required. The department shall prepare a contract, which includes but is not limited to a description of the activities to be completed by the community microenterprise development organization(s); conditions of disbursement; required reports; and the repayment requirements imposed in the event the community microenterprise development organization(s) does not fulfill its obligations described in the contract and other specific repayment provisions (“clawback” provisions) to be established on a project-by-project basis.
	 113.8(3) Reporting. An applicant shall submit any information requested by the department in sufficient detail to permit the department to prepare reports deemed necessary by the department, the board, the general assembly or the governor’s office.
[ARC 7764B, IAB 5/6/09, effective 4/17/09; ARC 7948B, IAB 7/15/09, effective 8/19/09]