Code of Maine Rules
01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY
001 - AGRICULTURE - GENERAL
Chapter 31 - RULES FOR OPERATION OF POTATO MARKETING IMPROVEMENT FUND
Section 001-31-L - Administration

(a) Make final decisions on participation by the Potato Marketing Improvement Fund in loans and grants;

(a) Provide overall supervision and policy oversight to the program;

(b) Assign employees of the Maine Potato Board or contract for services to advise and assist potential borrowers in applying for funds and to work with other lenders in packaging loan proposals;

(c) Enter into agreements with individuals or organizations for the purposes of financial record keeping, to facilitate collection of funds owed to the PMIF, and to develop appropriate loan forms.

(d) Annually, at the beginning of each calendar year, make a best estimate of the amount available for loans and grants to be made in that calendar year, by projecting principal and interest repayments to the PMIF due in that year and subtracting operating costs and expenses projected to be incurred during that calendar year and provide a copy of this best estimate to the Commissioner.

(a) Membership shall consist of:

(a) Purpose

A Project Review Committee shall be established for the purpose of reviewing proposals for funding under the New Facilities Fund. This review shall encompass the marketing, technical, business and other aspects of the proposal with particular attention paid to the intent of the Legislature in establishing the Fund.

Under no circumstances will financial data about the applicant and the project be available to this Committee, but all other aspects of the proposed project will be reviewed by this group.

The Project Review Committee's evaluation of a proposed project will be forwarded to the Commissioner, together with the supporting rationale for its recommendations regarding loan decisions.

(b) Membership

The Project Review Committee shall consist of eight (8) people appointed by the Maine Potato Board and approved by the Commissioner. The Committee shall include people with the following qualifications:

* Knowledge of the potato industry in Maine and/or other potato producing regions;

* Experience as growers;

* General marketing expertise; and

* Engineering and/or technical expertise.

(a) Purpose

A Credit Committee shall be established for the special task of providing financial analysis of proposals for funding through the New Facilities Fund. For any project proposal whose total estimated cost exceeds $100,000, the Credit Committee shall review all financial aspects of the proposal, as well as other information about each project, and evaluate each project from a credit perspective. The Credit Committee shall not provide financial information to the Project Review Committee. The Credit Committee will report its findings and recommendations on individual proposals directly to the Commissioner.

(b) Membership

The Credit Committee shall consist of four (4) members each of whom has commercial or agricultural lending experience, two of whom shall represent the USDA Farm Service Agency and the Farm Credit System. Committee members are appointed by the Commissioner and approved by the Maine Potato Board.

(a) Purpose

An Irrigation Grant Review Committee shall be established for the purpose of reviewing proposals for grant funding under the Irrigation Grant Fund. This review shall encompass the technical aspects and eligibility criteria of the proposal.

The Irrigation Grant Review Committee's evaluation of a proposed project will be forwarded to the Commissioner, together with the supporting rationale for its recommendations regarding grant decisions.

(b) Membership

The Irrigation Grant Review Committee shall consist of three (3) people appointed by the Maine Potato Board. The Committee shall include people with one of the following qualifications:

* Knowledge of the potato industry in Maine and/or other potato producing regions;

* Experience as growers;

* Engineering and/or technical expertise.