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A Council's policy defined the term "economic development"' for L A program purposes and covers the time period frori January 25, 2006 to June 28, 2006. on June 29, 2oo the Council adopted. a revised eminent domain policy that is consistent with. the statutory definitions and restrict .ons contained in Minnesota Statutes chapter 117 as amended (effective May 20, 2006) during the 2006 legislative session. The revised policy appli -es to L A grant awards and grant agreements made on or after June 28, 2006. The Council's January 25, 2006 and ,lute 28, 2006 eminent dornai n policies are available online at: http : /Iwww.metrocouncil.org/ services/ livcomm /EminentDornainPolicy-htm. (a) If a notice of petition was served between January 25, 2006 and May 20, 2006 in connection With. the Grantee's Project (or any component of the Project) for which grant- funds were awarded, the grant funds may not. be used to fund or support the Project unless the Project: (1) would have been eligible under the Council's January , 2006 policy; or (2) dual i f ios for an exemption under- Minnesota Statutes section 1 1 7.01 } subdiv1 lion 3) or 2006 M i.nnesota l -,aws chapter 214, section -, clauses (b) thr-or.rgh (e), (b) If a notice of petition was served on or after May 20, 2006 i.n connection with the Grantee's Project (or any component of the Project) for which grant funds were awarded, the grant funds may not be used to Band or support the Project unless the Project qua- lifies for are exem.ptiorl under Minnesota Statutes section 117.012, subdi vi s'ion _3 or 2006 Minnesota Laws chapter 214, section 22, clauses (b) through (e). 2.15 Lees of Grant Funds. The rantee agrees to rent i t to the CoUncil in a prompt manner: any unspent grant funds, including any grant funds that are not expended prior to the l� piration lute identified at Page I of this Agreement ; - any grant funds that are riot used for the authorized pui- poses; and any interest earnings described in Paragraph 2.07 that are not used for the purposes of tniplernen.ting the Project activities described in Attachment A. For the purposes of this Agreement, grant funds are "expended" prior to the Expiration Late if the Grantee pays or is obligated to pay for expenses of eligible Project activities that occurred prier- to the Expiration Date and the eligible expenses were incurred prior to the Expiration Tate. Unspent or unused grant funds and other funds remitted to the Council shall revel -t to the Council }s. Tai Base Revitalization. Account for distributioli through application processes 11-1 futrr-rc Funding Cycles. 2.06 Payment bequest Forms and Disbursements. The COUncil will disburse grant funds ire response to written payment requests submitted by the Grantee and reviewed and approved by the ouncil "s authorized agent. written payment requests shall be made using payment request forms, the fora and content of which will be determined by the Council. Payment request and other reporting forms are available online at: http,Hwww.me!trocouncil.org/ services /livcomm /LCAresources.htm. The Council will disburse grant funds on a reimbursement basis or a "-cost incurred" basis. The Grantee must provide with its written payment requests documentation that shoes grant - funded Project activities actually have been completed. Disbursem.en.ts prior to the performance of a grant - funded Project activity will be subject to tear as and conditions mutually agreed to by the Council's authorized agent and the Grantee. Subject to verification of each payment request form (and its documentation) and approval for r corns istency with this A -een -ient, the Council will disburse a requested a.nio unt to the grantee within two (2) weeks after receipt of a properly completed payment request. form. 2.07 Interest Earnings. If the Grantee earns any interest or other income from the grant funds received from the Council under this Agreement, the Grantee will use the interest earnings or income only for the purposes of implementing the Project activities described in Attachment A. Pale 4 of 10 Pages f)<