French General Code of Local Authorities
In forceI. - Aid for property investment may only be granted if the beneficiary has submitted an application to this effect before the start of the investment.
Where the beneficiary is a large company, aid may only be granted if the application file shows that at least one of the following conditions is met:
a) A significant increase, as a result of the aid, in the size of the project or activity;
b) A significant increase, as a result of the aid, in the scope of the project or activity;
c) A significant increase, as a result of the aid, in the total amount spent by the beneficiary on the project or activity ;
d) A significant increase, as a result of the aid, in the speed with which the beneficiary carries out the project or activity;
e) Failing this, the fact that the project would not have been carried out in the regional aid area in which the investment is carried out without the aid applied for.
II. - The granting of aid for property investment is subject to the undertaking by the company to maintain its business for a period of at least five years on the land or in the buildings for which it has received aid. This period is three years for aid granted to small and medium-sized enterprises within the meaning of the regulation referred to in Article R. 1511-5. The agreement mentioned in Article L. 1511-3 sets out the conditions under which the local authority or grouping that granted the aid will recover it if the beneficiary company fails to honour its commitment.
III. - Aid for property investment may only be granted if at least 25% of the expenditure relating to the property investment is financed without any public aid. This rate is reduced to 20% in French Guyana.
The obligations resulting from this article are mentioned in the agreement provided for in Article L. 1511-3.
