Funding priorities; port strategic business plans; rules

(1) The Oregon Infrastructure Finance Authority shall develop marketing grant funding priorities considering such factors as community need and whether the project will lead to economic diversification, development of a new or emerging industry and redevelopment of existing public facilities. The authority shall give priority to regional or cooperative projects, and projects that leverage other marketing efforts by the state or other local government units. (2) The authority shall review all proposals to avoid duplication of marketing efforts among ports, and to maintain consistency with the applicable county or city comprehensive plans. (3) Ports shall develop and maintain strategic business plans before obtaining funding. A strategic business plan developed and maintained under this subsection must comply with standards and requirements for strategic business plans established by the Oregon Business Development Department by rule. The department shall also establish by rule the date by which ports seeking funding must have a strategic business plan in place.