A.
DEVELOPMENT FUND
The Development Fund (DF) Program provides funding to local
governments to assist businesses to create or retain jobs for low and
moderate-income persons.
1.
Threshold Criteria:(a)
Eligible
Applicants: All units of general local government in Maine, including
plantations, are eligible to apply for and receive DF funds. County governments
may apply on behalf of unorganized territories.
(b) At least 51% of the jobs created or
retained as a result of DF expenditures proposed by the applicant must be taken
by persons of low and moderate income;
(c) the cost per job created or retained with
DF funds shall not exceed $35,000.
(d) complete the required DF application
materials.
2.
Special Program Requirements:(a)
Necessary and Appropriate: A DF loan to a business must be for
projects that are necessary and appropriate. The application must describe the
need for DF assistance, reasonableness of the amount requested, the repayment
plan, and assurance that the assistance provided is commensurate with the
community benefits that will accrue from the project. Documentation must be
provided that the project cannot proceed without DF participation. The
Development Fund is gap financing.
(b)
Financing Plan: The DF
application shall present a financing plan for a project in which the DF loan
comprises the lesser of $200,000 or 40% of total project cost. Project
activities and use of funds to calculate the non-DF financing must represent a
new investment or a new project. The financing necessary to support
at least 60% of the total project cost must be firm commitments
from non-CDBG funds and must be documented by binding commitment letters
submitted with the application.
(c)
Maximum Grant Award:
$200,000
(d)
DF Loan:
The DF is provided as a grant to a unit of local government. The local
government must use designated grant monies as a loan to the business
identified in the DF application. The loan must be provided under the terms
stated in a DF Letter of Commitment and the contract between DECD and the local
government.
(e)
Repayment
Terms: Justification for the repayment terms relate to filling the
financing gap, identifying the rate of return allowed through the repayment
terms, or specifying the locational cost differentiations and the benefit
derived from the assistance.
3.
Selection Process: The DF
project will be evaluated as a viable business proposal. The following will be
considered:
(a)
Strategy Priority: The
Development Fund program will give priority to business activities that support
the state's economic development strategy. The Development Fund will, whenever
possible, be targeted towards economic sectors identified in the
strategy.
(b)
Eligible
activities: Acquisition, relocation, demolition, clearance,
construction, reconstruction, installation, rehabilitation and working
capital.
(c)
Chance of
Success: The business must demonstrate that a market exists for its
product or service, the cost of the product or service is competitive in
current market conditions, the cash flow projections are adequate to support
operating expenses and indebtedness, and management has the capacity to carry
out the business or development plan. The project must demonstrate that there
are no unidentified costs necessary for implementation.
(d)
Financial Plan: The
financing for the project must be in place and legally binding commitments must
be submitted; the proposal is structured to meet cash flow projections; and the
project pro forma must be reviewed by an independent qualified financial
professional. The financing plan must be complete with no unidentified uses of
funds necessary to complete the project.
(e)
Equity: The proposed loan
recipient has made an equity commitment to the project, preferably through cash
injection. Other substantial participation may substitute for a cash equity
injection with appropriate explanation regarding equity
participation.
(f)
DF Loan
repayment: Loan repayment terms will allow a project to be implemented
while providing the maximum and most expeditious return of CDBG DF
monies.
(g)
Security:
The proposed loan recipient presents collateral appropriate to secure the DF
Loan and indicates willingness to execute security agreements.
(h)
Benefit: The DF proposal
will be evaluated on the basis of the community and economic benefits that will
result from the project. A fundamental component of CDBG assistance is the
provision of Public Benefits.
(i)
Cost: The number of permanent jobs created or retained as per DF
project dollars will be compared with current and past DF projects. The
increase in local tax dollars resulting form the project will be evaluated.
Overall project cost effectiveness also will be considered.
(1)
Low and Moderate Income
Benefit: Benefit to LMI persons will be evaluated. The integration of
job training programs, job advancement opportunities, education and training
programs, and referral services from Joint Training Partnership Act and Job
Service will also be reviewed.
(2)
Community and Economic Development: The primary and secondary
impacts of the DF project on the community's current and future economic
development will be evaluated.
4.
Approval Process
(a)
Application: Applications
shall be submitted by the first Thursday of each month. DECD staff will review
the applications to determine if the threshold criteria have been met. DECD or
its designee will conduct a credit analysis. The DF Review Committee will then
review applications. The Committee will make recommendations to the Director of
the Office of Business Development. The DF Committee is appointed by the
Director and consists of a representative of local government, a certified
public accountant, an attorney, a representative of private financing, a
businessperson, and two at-large appointees.
(b)
DF Committee
Recommendations: The DF Committee will review staff reports, credit
analysis and make recommendations to the Director for awards. The Committee
will recommend one of four options:
(i)
approval of requested amount and terms;
(ii) approval of requested amount but under
different terms;
(iii) rejection
with staff recommendation for resubmission; or,
(iv) rejection.
(c)
Quarterly Allocation: The
allocation will be limited to $300,000 per quarter, plus any unobligated
portion of allocations of previous quarters. The Director of OBD can waive this
limit. The Director reserves the right to reject any or all
applications.
B.
REGIONAL ASSISTANCE FUND
The Regional Assistance Fund (RAF) Program provides financial
resources to local governments to be used as leverage to obtain funds from
Federal, State and private programs. RAF money can be used as match to obtain
funds from: the Economic Development Administration (EDA); Economic Adjustment
Assistance Program (Title IX); and the EDA Public Works Program (Title I) or
the Rural Development Agency (RDA), Rural Business Enterprise (RBE) Grant and
the Intermediary Relending Program (IRP) and/or other Federal, State, and
private programs. The purpose of the RAF is to bring additional money into the
State, and therefore, RAF cannot be used as match with the State's CDBG program
or conventional lending institutions.
1.
Threshold Criteria:
(a)
Eligible Applicants: All
units of general local government in Maine, including plantations and Counties,
are eligible to apply for and receive a RAF grant. County governments may also
apply on behalf of unorganized territories. Groups of local governments may
apply for a multi-jurisdictional or joint RAF project. Multi-jurisdictional
applications require designation of one local government as the lead applicant
and consent for that designation by each participating local
government.
(b) be an eligible
planning activity or a project with 51% of the jobs created or retained as a
result of RAF expenditures proposed by the applicant are taken by persons of
low and moderate income;
(c) be
designated by the appropriate organization providing matching funds as eligible
to receive funds; and
(d) complete
the required RAF application materials.
2.
Special Program
Requirements:(a)
RAF
Funds: Provided the RAF application is successful, a contract will be
executed between DECD and the local government to reserve funds for the
applicant. A Letter of Conditions will be included in the contract to describe
the terms that will govern the release of funds.
(b)
Limit on Amount of RAF
assistance: Each Economic Development District will be eligible for one
RAF grant per year. Additional grants within districts will be made at the
discretion of the Director of Office of Business Development (OBD). The RAF
application must present a plan in which the RAF funding comprises the lesser
of $200,000 or up to 100% of the matching funds required from the local
government. The local government must demonstrate that it is not possible to
get funding from any other source for the portion of matching funds sought from
the RAF.
(c)
Program Income
Plan: Thresholds regarding interest rates or repayment terms for RAF
assistance to revolving loan funds have not been established. Justification for
the repayment terms relate to filling the financing gap, identifying the rate
of return allowed through the repayment terms, or specifying the locational
cost differentiations and the benefit derived from the assistance. To meet
matching requirements, program income generated from RAF funds may be retained
by the local grantee or by the local grantee's assignee with the approval of
DECD.
(d)
Community Financial
Commitment: Wherever appropriate the community must demonstrate a vested
financial interest in the development project, ranging up to 33% of CDBG
funds
3.
Selection Process: The RAF project will be evaluated as a viable CDBG
proposal. The following considerations will be the focus of the Impact factor.
(a)
Financial
Plan:
The financing need for the project will be based on an assessment of its
financial resources. The proposal must have an appropriate leverage ratio of
private and public dollars.
(b)
Benefit: The RAF proposal will be evaluated on the basis of the
community and economic benefits that will result from the project. A
fundamental component of CDBG assistance is the provision of Public
Benefits.
(c)
Cost:
The number of permanent jobs created or retained per RAF project dollars will
be reviewed on a case by case basis. The increase in local tax dollars
resulting from the project will be evaluated. Overall project cost
effectiveness also will be considered.
(d)
Low and Moderate Income
Benefit: Benefit to low and moderate income persons and families will be
evaluated. The integration of job training programs, job advancement
opportunities, education and training programs, and referral services from Job
Training Partnership Act and Job Service will also be reviewed.
(e)
Community
and
Economic
Development: The primary and secondary
impacts of the RAF project on the community's current and future economic
development will be evaluated.
(f)
Local Commitment/Match: The commitment of local funds to the
project. Additional weight will be given to applications showing a local
commitment of funds.
4.
Approval Process:(a)
Application: Once the applicant has submitted a pre-application to
the appropriate agency and is working toward a full application, it may submit
a RAF application to DECD. DECD staff will review the RAF applications on a
first-come first-served basis to determine if the threshold criteria and
special program requirements have been met. Successful applicants will be
invited to continue to the project development phase. A project development
analysis will be conducted by DECD or its designee for each proposal.
(b)
Staff Recommendations:
Following the project development analysis, staff will make one of the
following three recommendations to the Director of the OBD for awards:
(i) approval of requested amount with
requested or different terms
(ii)
approval of lesser amount with requested or different terms; or,
(iii) rejection.
C.
MICRO-LOAN
PROGRAM
The Micro-Loan Program (ML) provides communities with funds
to assist existing and new businesses to create and/or retain jobs for low and
moderate-income persons.
1.
Threshold Criteria and Certifications: Micro Loan Program funds will be
distributed through an annual grant application selection process.
(a)
Eligible Activity: The
establishment of a local commercial loan program for the purpose of assisting
businesses.
(b)
Project
Benefit: At a minimum,51% of the jobs created or retained as a result of
EDI expenditures must be taken by persons of low and moderate income.
2.
Special Program
Requirements:(a)
Past
Performance: In order to be eligible to apply for the 2000 Micro-Loan
program, communities that received CDBG grants in or prior to 1996 must have
closed their grants prior to application date. Communities that received CDBG
grants in 1997 must have conditionally closed their grants prior to application
date. Communities that received CDBG grants in 1998 must have obligated 50% of
their benefit activity funds prior to application date.
Exceptions: Applicants may request a waiver of
this requirement under the following circumstances: l) program delays have
occurred beyond the control of the grantee due to unforeseen changes in
availability of funds or acts of nature; 2) the recipient has received
unanticipated program income and expenditure of grant funds has been delayed;
3) the job creation goals of a previous grant have not been fulfilled; or 4)
special circumstances as determined and approved by the OCD Director.
(b) Maximum Micro-Loan Grant
Amount: $100,000, part of which may be used to provide technical
assistance to loan applicants. Funds not loaned out within 12 months of
contract start date will be withdrawn.
(c) Necessary and Appropriate:
All loans made from the Micro-Loan Program to for-profit and non-profit
businesses must be for projects that are necessary and appropriate as defined
by HUD. Documentation must be provided that the project cannot proceed without
Micro-Loan assistance.
(d)
Financing Plan: Micro-Loans are limited to a maximum of $25,000
per loan. Micro-Loans may provide 100% of the financing for loans up to
$15,000. Micro-Loans exceeding $15,000 require a dollar-for-dollar match for
the portion of the loan exceeding $15,000.
(e)
Micro-Loan Program Income:
Grantees who demonstrate demand for additional Micro-Loan Program (MLP)
eligible loans will be able to capitalize a MLP revolving loan fund with their
MLP loan repayments. Grantees that do not close MLP loans to three or more
different businesses and do not demonstrate demand for additional eligible
loans will return MLP repayments to DECD.
3.
Selection Process: The
selection process will consist of two phases - an application phase (Phase I)
and a project development phase (Phase II).
Phase I Application: The maximum length of an
application is six pages. The application deadline is February 4, 2000.
Each application will be rated in relation to all other
Micro-loan applications. A minimum of 80 points from the Problem
Statement, Proposed Solution and Citizen Participation sections will be
required for an application to be considered for funding.
(a)
Problem Statement (35
points):
Scope of Problem: (35 points) -
Description of the economic base and business trend problems of the community
and the impact on job opportunities for LMI persons. Description of the need
for funds including data on area capital availability and the inability of
potential applicants to obtain loans.
(b)
Proposed Solution (45
points):(i)
Scope of
Solution: (17.5 points) - Description of how funds will be used to
solve the identified problems.
(ii)
Capacity: (17.5 points) - Description of the capacity
of the applicant to market and conduct a Micro-Loan Program. Identify
accomplishments in administering loan programs or completing similar
responsibilities.
(iii)
Potential Loan Applicants: (10 points) - Description
of efforts to identify potential loan applicants, who these prospects are, and
type of business and capital needs.
(c)
Citizen Participation (20
points):(i)
Business
Involvement: (10 points) - Description of how the business
community participated in the development of the proposed program such as
repayment policies, targeted sectors, etc.
(ii)
General Citizen
Involvement: (10 points) - Description of how the need for, and
priority of, a Micro-Loan program was defined by the general citizenry in the
application process.
D.
ECONOMIC DEVELOPMENT INFRASTRUCTURE
PROGRAM
The Economic Development Infrastructure (EDI) Program
provides Maine communities with funds to develop or rehabilitate public
infrastructure or facilities that is essential for the location or expansion of
business and industry. EDI funds will leverage local and private sector capital
to create and retain jobs for low and moderate-income persons, generates taxes
and create market place opportunities.
1.
Threshold Criteria and
Certifications: Applications for the EDI Program will be accepted on an
ongoing basis beginning January 3, 2000. The official application acceptance
will be the 1st Thursday of each month.
(a)
Eligible Activities:
Eligible activities include acquisition, relocation, demolition, clearance,
construction, reconstruction, installation, and rehabilitation
associated with
public infrastructure
projects such as water and sewer facilities, flood and drainage
improvements, publicly-owned commercial/industrial buildings, parking, streets,
curbs, gutters, sidewalks, etc. which are necessary to create or retain jobs in
the non-retail private sector for low and moderate income persons.
Eligibility of projects that are not in support of a specific business,
such as the development of an industrial park or incubator building, will be
determined on a case by case basis by OCD.
(b)
Cost per Job: The targeted
cost per job created or retained with EDI funds is $10,000.
(c)
Project Benefit: At a
minimum,51% of the jobs created or retained as a result of EDI expenditures
must be taken by persons of low and moderate income.
(d)
Local Match: All communities
applying for EDI funds must provide a local match equivalent to 20
percent of the total grant award. This match must be directly
related to the EDI infrastructure portion of the project and is in addition to
any investment made by the assisted business.
(e)
Applicant Surety: If the
proposed EDI activity is not in support of a specific business, prior to
contracting with OCD, the applicant community must have in place a surety
instrument equal to the amount of the EDI grant.
2.
Special Program
Requirements:(a)
Past
Performance: In order to be eligible to apply for the 2000 Economic
Development Infrastructure program, communities that received CDBG grants in or
prior to 1996 must have closed their grants prior to application. Communities
that received CDBG grants in 1997 must have conditionally closed their grants
prior to application. Communities that received CDBG grants in 1998 must have
obligated 50% of their benefit activity funds prior to application.
Exceptions: Applicants may request a waiver of
this requirement under the following circumstances: l) program delays have
occurred beyond the control of the grantee due to unforeseen changes in
availability of funds or acts of nature; 2) the recipient has received
unanticipated program income and expenditure of grant funds has been delayed;
3) the job creation goals of a previous grant have not been fulfilled; or 4)
special circumstances as determined and approved by the OCD Director.
(b) Maximum Economic
Development Infrastructure Grant Amount: $400,000. In no case will the
amount of EDI assistance be greater than 50% of the project cost including EDI,
local, and business contributions. Projects involving collaboration among
communities may be eligible for grants exceeding the maximum.
(c)
EDI Projects in Support of Retail
Businesses: OCD will accept EDI Program applications in support of
retail businesses only under the following limited
conditions:
(i) The retail business represents
the provision of new products and services previously unavailable in the
community or is a tourism-related business;
(ii) The development or expansion of the
retail business represents a net economic gain for the community and the
region. EDI applications supporting a retail business or businesses are
required to certify that the development represents a net overall gain for the
regional economy and not a shift from existing established businesses to a new
or expanded one; and
(iii) At least
50% of the jobs created by the retail business must be full time
jobs.
(d)
Exclusions: Communities will be eligible to receive either
Economic Development Infrastructure (EDI) or Business Assistance funds, but not
both for the same project.
3.
Selection Process: The
selection process will consist of two phases - a pre- application and an
application phase.
(a)
Pre-Application: Eligible EDI applications must submit a completed
pre-application to OCD. Pre-applications will be reviewed by the OCD Review
Team to determine if the following threshold criteria are met:
(i) Applicant eligibility
(ii) Consistency with State Economic
Development Strategy
(ii)
Activities are eligible and comply with national and state CDBG
objectives
(iv) No legal actions
will significantly effect the project
(v) Financial profile of the applicant
community and/developer
(vi)
Financial condition of the business or development entity
(vii) Amount of proposed EDI assistance is
reasonable
(viii) Match funds meet
program requirements
(ix)
Assessment of success of the project
(x) Project will not result in relocation of
the business from community to another, unless:
(a) the current host community certifies it
cannot meet the needs of the business
(b) there is a plan to mitigate the potential
for dislocation of the current workforce
If all pre-application requirements are met, OCD will invite
the applicant, in writing within 15 working days, into the application phase. A
Project Development Specialist will be assigned to work with the applicant. If
the pre-application is rejected, the applicant will be notified in writing of
the reasons for rejection. Pre-applications may be re-submitted after 30 days
of notification.
(b)
Application Phase: The
applicant must submit a completed application within 120 days from invitation.
The OCD Review Team will evaluate the project using the following criteria:
(i) Completeness
(ii) Ability to proceed
(iii) Quality of LMI jobs
(iv) Status of matching funds
(v) Level of risk
(vi) Community benefit
(vii) Reasonableness of EDI
assistance
(viii) Citizen
participation
(ix) Environmental
review
The Review team will complete its review within 15 working
days from the date of official application acceptance. The Team will recommend
either: 1) Approval; 2) Request further information or documentation; or 3)
Denial.
Upon receiving the recommendation from the Review Team, the
OCD Director will forward the recommendation to the DECD Commissioner for final
action. The Commissioner has the authority to ask for reconsideration by the
Review Team. Within five (5) working days of review completion OCD will notify
applicants of the status of their application. Applicants approved for funding
will begin the process of contracting with OCD. If an application requires
further information or documentation, the applicant may re-submit the amended
application at any time.
Applications denied by OCD may not be re-submitted prior to
30 working days from notification and only after discussion between the
applicant, Project Development Specialist, the OCD Technical Assistance
Director or Program Manager.
The Office of Community Development reserves the right
to fund only those applications deemed to be in the best interests of, and that
offer definable benefits to, the State of Maine and the Community Development
Block Grant Program.
E.
BUSINESS ASSISTANCE PROGRAM
The Business Assistance (BA) program provides funds to assist
businesses to create or retain jobs for low and moderate-income persons. The
Business Assistance program will provide either loans, grants or a combination
of each to meet the infrastructure, capital equipment and real property needs
of businesses. The program will assist those economic initiatives and
development opportunities that are of sufficient magnitude to have a
significant impact on a local or regional economy.
1.
Threshold Criteria: The
state will distribute Business Assistance Program funds through an annual grant
application selection process.
(a)
Eligible Applicants: All units of general local government in
Maine, including plantations, are eligible to apply for and receive BA funds.
County governments may only apply on behalf of unorganized territories;
(b)
Project Benefit:
At a minimum,51% of the jobs created or retained as a result of BA
expenditures must be taken by persons of low and moderate income.
(c) The targeted cost per job created or
retained with BA funds is $10,000.
2.
Special Program
Requirements:(a)
Necessary and
Appropriate: A BA loan or grant to a business must be for projects that
are necessary and appropriate. The application must describe the need for
assistance, reasonableness of the amount requested, the repayment plan, and
assurance that the assistance provided is commensurate with the community
benefits that will accrue from the project. Documentation must be provided that
the project cannot proceed without BA assistance.
(b)
Financing Plan: The
application shall present a complete financing plan for a project. The
financing necessary to support the total project cost must be documented with
binding commitment letters submitted with the application. Project activities
or uses of funds used to calculate any non-CDBG financing must represent new
investment.
(c)
Funds:
The Business Assistance funds are provided as a grant to a unit of local
government. The local government will loan or grant to the business identified
in the BA application. The loan or grant must be provided under the terms
stated in a Business Assistance Letter of Commitment and the contract between
DECD and the local government.
(d)
Repayment Terms: Terms must be based on the business' maximum
capacity for principle and interest payments as documented in their pro formas
and reviewed by DECD or its designee as appropriate to remain
profitable.
(e)
Maximum
Business Assistance Grant Amount: $400,000
(f)
Exclusions: Communities will
be eligible to receive either Economic Development Infrastructure (EDI) or
Business Assistance funds, but not both for the same project.
3.
Eligible Activities:
Eligible activities to be carried out with BA funds include acquisition,
reconstruction, rehabilitation or installation of commercial or industrial
buildings, structures, fixtures, capital equipment and real property
improvements.
4.
Selection
Process: The BA Project will be evaluated as a viable business proposal.
The following will be considered:
(a)
Strategy Priority: The Business Assistance program will give priority to
business activities that support the state's economic development strategy. The
Business Assistance Program, whenever possible, will be targeted towards
economic sectors identified in the strategy.
(b)
Chance of Success: The
project demonstrates that a market exists for its product or service, the cost
of the product or service is competitive in current market conditions, the cash
flow projections are adequate to support operating expenses and indebtedness,
and management has the capacity to carry out the business or development plan.
The project must demonstrate that there are no unidentified costs necessary for
implementation.
(c)
Financial
Plan: The financing for the project is in place and legally binding
commitments have been submitted; the proposal has an appropriate leverage ratio
of private and public dollars and is structured to meet cash flow projections;
and the project pro forma has been reviewed by an independent qualified
financial professional.
(d)
Equity: The proposed loan/grant recipient has made an equity
commitment to the project, preferably through a cash injection. Other
substantial participation may substitute for a cash equity as determined by the
Director.
(e)
BA Loan
repayment: Loan repayment terms will allow a project to be implemented
while providing the maximum and most expeditious return of CDBG BA
monies.
(f)
Security:
The proposed loan recipient presents collateral appropriate to secure the BA
loan and indicates willingness to enter into security agreements.
(g)
Public Benefit: The BA
proposal will be evaluated on the basis of the community and economic benefits
resulting from the project.
(h)
Cost: The number of permanent jobs created or retained per BA
project dollars and the increase in local tax dollars resulting from the
project will be evaluated. Overall project cost effectiveness also will be
considered.
(i)
Low and
Moderate Income Benefit: Benefit to LMI persons will be evaluated. The
integration of job training programs, job advancement opportunities, education
and training programs, and referral services from Joint Training Partnership
Act and Job Service will also be reviewed.
(j)
Community and Economic Development:
The primary and secondary impacts of the project on the community's
current and future economic development will be evaluated.
(k)
Community Financial
Commitment/Match: The community must demonstrate a vested financial
interest in the development project. The program's goal is to obtain community
participation ranging up to 33% of CDBG funds.
5.
Approval Process:
(a)
Application: Applications
may be submitted at any time. DECD staff will review the applications to
determine if the threshold criteria have been met. A credit analysis will be
conducted by DECD or its designee for each proposal. Following staff analysis,
applications will be evaluated by a review committee appointed by the Director
of the Office of Business Development.
(b)
Review Committee
Recommendations: The review committee will evaluate staff reports and
make recommendations to the Director of OBD for awards.
F.
REGIONAL SUPER PARK
PROGRAM
The Regional Super Park program provides Maine communities
with funds to assist in the provision of necessary infrastructure to develop
one regional business park (Super Park) within the State. Recognizing the needs
to have an inventory of "Super Parks" in Maine, the State is challenging Maine
communities to develop the next generation of business industrial parks. These
parks should be developed through a creative regional process involving
tax-sharing and other cooperative agreements.
1.
Threshold Criteria: The
State may distribute Regional Super Park funds through an application selection
process and award one grant to the group of communities that develops the
proposal with the best chance of success.
(a)
Eligible Applicants: All units of general local government in
Maine, except entitlement communities, are eligible to apply for the Super Park
program. Entitlement communities may participate in a regional super park
development in a non-entitlement community.
(b)
Eligible Activities:
Eligible activities including acquisition, relocation, demolition, clearance,
construction, reconstruction, installation, and rehabilitation
associated with
public improvements such
as water and sewer facilities, utility infrastructure, flood and drainage
improvements, parking, streets, curbs, gutters, sidewalks, etc. which are
necessary to create or retain jobs in the non-retail private sector for low and
moderate-income persons.
(c)
Cost per Job: The targeted cost per job created ratio is
$10,000.
(d)
Project
Benefit: At a minimum,51% of the jobs created or retained as a result of
Super Park Project expenditures must be taken by persons of low and moderate
income.
2.
Special Program Requirements(a)
Maximum Grant Award: $1,000,000.
(b)
Award of Grant: DECD
reserves the right to refuse any and all applications and to make no award
under this program.
(c)
Leverage Ratio: Applicants must demonstrate committed match funds
with at least a 5-to-1 ratio of other dollars to CDBG dollars. Applicants may
utilize funds from any source (other than CDBG) to meet match
requirement.
3.
Selection Process: Applicants must include a development plan covering
the following features:
minimum 300 acre park size or 200 developable acres
(can include existing industrial park acreage)
advanced telecommunications infrastructure
advanced electric distribution facilities
a campus-like atmosphere including efficient and
attractive circulation systems for motorists and pedestrians, large landscaped
lots and attractively landscaped common areas, underground utilities and
architecturally controlled buildings and sites
centralized water and sewage treatment
facilities
access to major transport systems
access to essential community services
The successful application will demonstrate cooperation among
applicant communities, identify demand for a super park facility, include a
financial plan that has a high probability of success and outline a facility
management capacity.
Applicants must demonstrate that their project will not
compete with the Kennebec Regional Super Park currently being developed in
Oakland.
Phase I Application: No maximum length. The
application deadline is August 3, 2000. Each application will be rated in
relation to all others. There is no minimum score for funding but the Office of
Community Development reserves the right not to fund an application if it is
deemed to be in the best interests of the State and the Community Development
Block Grant Program.
(a)
Management Plan: (15 points) Description of the
management and organizational structure to be used in the development and
operation of the park.
(b)
Development Plan: (25 points) Preliminary site plan
and description of facilities and amenities.
(c)
Market Plan: (25
points) Feasibility studies and market analysis demonstrating 1) the need for
the park (suitable, available occupants), 2) availability of workforce, and 3)
build-out rate scenarios.
(d)
Financial Plan: (25 points) Plan must include 1)
demonstrated commitment of funds for leverage ratio, 2) community tax-sharing
and TIF agreements, and 3) business plan for the park.
(e)
Community
Participation: (10 points) Projects including more than two
communities will receive a higher point total.
