Project Priorities and Funding
The authority may consider the following priorities when determining a development project’s eligibility, including but not limited to:
Projects that help create or retain permanent jobs.
Projects for which a municipality has documented a strong likelihood of creating construction jobs or otherwise promoting or contributing to economic and community development.
Projects for which a municipality has documented substantial local commitment to the project’s success.
Projects for which a municipality has documented how the benefits of the project will be preserved over the project life.
The authority may apply the following procedure when determining whether to make an award for an eligible development project:
The authority will review project concepts and/or project information contained in the project intake form.
Proposed projects that the authority determines to be eligible, meet the Board approved prioritization criteria, are a high priority and address the goals of the program, will be advanced to the next step. A proposed project that is not advanced will be referred to other possible funding source(s) or referred back to the proposing municipality for further project development.
High priority projects will be funded on a funds available basis.