Current through Register No. 12, March 21, 2024
(a)
Applications with an EDE as a subrecipient shall be awarded a maximum of 155
points for EDE indicators, based on (c) through (m).
(b) If the EDE is other than a regional
development corporation, as defined by
Cdfa
302.49, then
(1) 20%
of the principal and interest on a project loan must be paid to the regional
development corporation in whose area the project takes place, or
(2) If the project is for real estate
development, 20% of the net sale amount must be paid to the regional
development corporation in whose area the project takes place upon the sale of
the real estate developed with CDBG funds.
(c) Up to 10 points shall be awarded for the
EDE's experience at acquiring project-related, non-CDBG loan and grant funds
including, but not limited to, U.S. Department of Agriculture-Rural Development
rural business enterprise grants/rural business opportunity grants/intermediary
relending program (USDA-RD RBEG/RBOG/IRP), NH business finance authority (BFA),
US Department of Commerce Economic Development Administration (EDA), and NH
department of environmental services (DES), as follows:
(1) A score of 10 points if the EDE has or
had more than 6 projects;
(2) A
score of 5 points if the EDE has or had between 2 and 5 projects; and
(3) A score of 0 points if the EDE has or had
1 or no projects.
(d) Up
to 15 points shall be awarded for the EDE's history of serving LMI constituents
through job creation, as follows:
(1) A score
of 15 points if the EDE has a demonstrated history; and
(2) A score of 0 points if the EDE has no
demonstrated history.
(e) Up to 15 points shall be awarded for the
EDE's experience in making commercial loans, as follows:
(1) A score of 15 points if the EDE has more
than 10 years of experience;
(2) A
score of 10 points if the EDE has between 5 and 10 years of
experience;
(3) A score of 5 points
if the EDE has between 3 and 5 years of experience; and
(4) A score of 0 points if the EDE has less
than 3 years of experience.
(f) Up to 5 points shall be awarded if the
EDE has experience making commercial loans, as measured by their collection
history, as follows:
(1) A score of 5 points
if an EDE has a successful history; and
(2) A score of 0 points if an EDE has no
history or a negative history.
(g) Up to 5 points shall be awarded if the
EDE has demonstrated experience in re-lending RLF funds, as follows:
(1) A score of 5 points if the EDE has
re-lent RLF funds; and
(2) A score
of 0 points if the EDE has not re-lent RLF funds.
(h) Up to 10 points shall be awarded if the
EDE has participated in real estate-related projects, as follows:
(1) A score of 10 points if the EDE has or
had 6 or more real estate projects;
(2) A score of 5 points if the EDE has or had
between 1 and 5 real estate projects; and
(3) A score of 0 points if the EDE has or had
no real estate projects.
(i) Up to 25 points shall be awarded for the
EDE's lending experience, as follows:
(1) A
score of 5 points if the EDE has or had one or more participation loans with a
commercial bank;
(2) A score of 5
points if the EDE has or had one or more participation loans with a non-profit
lending institution;
(3) A score of
5 points if the EDE has closed at least one CDBG project during the previous 5
years;
(4) A score of 5 points if
the EDE has or had access to other RLF funds, such as RBEG, RBOG, and IRP;
and
(5) A score of 5 points if
their board of directors is comprised of community representatives as a
requirement of their by-laws.
(j) Up to 10 points shall be awarded for the
scope of the EDE service area, as follows:
(1)
A score of 10 points if the EDE serves more than 5 municipalities;
(2) A score of 5 points if the EDE serves at
least 2 and not more than 5 municipalities; and
(3) A score of 0 points shall be awarded if
the EDE serves only 1 municipality.
(k) Up to 15 points shall be awarded if the
EDE manages its own RLF, as defined in
Cdfa
302.52, and documented with an audit or compiled
financial statements, as follows:
(1) A score
of 15 points if the EDE's RLF is over $2,000,000;
(2) A score of 10 points if the EDE's RLF is
at least $1,000,000 and less than $2,000,001;
(3) A score of 5 points if the EDE's RLF is
at least $100,000 and less than $1,000,000; and
(4) A score of 0 points if the EDE's RLF is
less than $100,000.
(l)
Up to 15 points shall be awarded if the EDE has the capacity for loan
origination, closings, and disbursements and collections, as follows:
(1) A score of 15 points if the EDE has
in-house capacity;
(2) A score of
10 points if the EDE has a long-term arrangement with a qualified outside
entity;
(3) A score of 5 points if
the EDE contracts on a project-by-project basis; and
(4) A score of 0 if the EDE has no
capacity.
(m) Up to 30
points shall be awarded for the EDE's management and experience, as follows:
(1) A score of 5 points if the EDE's loan
portfolio is reviewed regularly by the board of directors or loan
committee;
(2) A score of 5 points
if the EDE utilizes an adequate financial management and accounting
system;
(3) A score of 5 points if
the EDE uses an attorney for loan closings;
(4) A score of 5 points if the EDE maintains
a funded loan loss reserve (LLR), and has documented LLR guidelines;
(5) A score of 5 points if at least one EDE
staff member has 5 or more years of commercial financing experience;
and
(6) A score of 5 points if at
least one EDE staff member has a recognized economic development certification
or post-graduate related degree.
(See Revision Note at chapter heading for Cdfa 300) #8387,
eff 6-29-05; ss by #8515, eff
1-1-06
