Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 309 - WASTE REDUCTION AND RECYCLING LOAN FUND PROGRAM
Section 457-309-3 - Eligibility
Universal Citation: 94 ME Code Rules ยง 457-309-3
Current through 2024-38, September 18, 2024
To be eligible for financial assistance under the program, a borrower must demonstrate each of the following:
A. The Borrower is the owner or operator of a project which is:
1 designed to substantially
reduce or eliminate the production in a trade or business of solid waste as
defined in Title 38, Section 1308-C; or
2 devoted to resource recovery, as defined in
Title 38, Section 1303-C, except that the combustion of solid or hazardous
waste shall not be considered resource recovery for purposes of this Rule,
or
3 devoted to the reuse of
post-consumer materials and
B. The project will not result in a net increase in solid or hazardous waste to be disposed of within the State.
C. The Borrower demonstrates the ability to repay the loan.
D. The Borrower demonstrates that other sources of capital will be used to finance the Project.
E. The Project is located in Maine.
F. At least ninety percent (90%) of the waste handled by the Project is generated in Maine.
G. The Project conforms with the goals of the State Plan.
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