Award requirements.

§ 306.5 Award requirements. EDA provides Investment Assistance to University Center Projects in accordance with the general evaluation and selection criteria set forth in part 301 of this chapter, the competitive selection process outlined in the applicable FFO, and the extent to which the Project: (a) Addresses the economic development needs, issues and opportunities of the Region and will benefit distressed areas in the Region; (b) Provides service and value that are unique and will maximize coordination with other organizations in the Region; (c) Has the commitment and support (both financial and non-financial) of the highest management levels of the sponsoring institution; (d) Outlines activities consistent with the expertise of the proposed staff, academic programs and other resources available within the sponsoring institution; and (e) Documents past experience of the sponsoring institution in operating technical assistance programs.