At the beginning of each state fiscal year the authority and the Ports will make reasonable efforts to identify and initiate high priority projects. Funding of up to 50% of that year’s transfer of funds will be reserved exclusively for high priority projects for the first four months of the state fiscal year, after which it will become available for any eligible project.
Regional or cooperative projects that benefit more than one port;
Projects that leverage other marketing and development efforts by the state or other government units;
Projects leading to economic diversification, development of a new or emerging industry or redevelopment of existing public facilities.
Priority will be given for immediate job or revenue creation projects. Other opportunities not cited in a port’s adopted strategic business plan may be given priority, provided that the port consults with the authority and the Peer Review Committee and, if required to do so by the authority, the ruling body of the port acts to amend its strategic business plan.