Code of Maine Rules
19 - DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
498 - OFFICE OF TOURISM AND COMMUNITY DEVELOPMENT
Chapter 22 - RIVERFRONT COMMUNITY DEVELOPMENT BOND PROGRAM RULES
Section 498-22-8 - Application Process

Universal Citation: 19 ME Code Rules ยง 498-22-8

Current through 2024-38, September 18, 2024

The Department will conduct an application process consisting of the following steps:

1. Submission of a Letter of Intent from all interested applicants. Submitted with the Letter of Intent must be a letter of sponsorship from a State Agency as defined in §1(12) of this Rule. A completed Letter of Intent must be received by the Department no later than the announced due date set by the Panel. The Letter of Intent must include the following:

a. Demonstrate the capacity to undertake the project with a reasonable prospect of bringing it to a successful conclusion. In assessing an applicant's ability to meet the requirements of this paragraph, the panel may consider all relevant factors, including but not limited to the applicant's level of debt; fund-raising ability; past economic and community development activities; grants from federal, state or local sources; previous environmental conservation, restoration or enhancement activity; organizational history; scope of economic or environmental vision; and evidence of success in previous efforts.

a. A general description of the proposed project, projected project timeline, and design work completed to date.

b. A general description of the proposed project, projected project timeline, and design work completed to date.

c. Identification of anticipated sources of matching funds and description of the timeframe for final commitment.

2. In order to continue in the process an eligible applicant must receive written approval from the Department. Applicants deemed by the Department to have an incomplete or non-compliant Letter of Intent will receive written confirmation of the fact and will not continue in the competition;

3. All eligible applicants wishing to do so must prepare and submit a full application and required attachment to the Department no later than the announced due date;

4. Incomplete or non-compliant applications will be rejected by the Department.

Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.