New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 21 - COMMUNITY REVITALIZATION AND DEVELOPMENT
Part 3 - LENDING PROCEDURES OF THE MAIN STREET REVOLVING LOAN FUND
Section 12.21.3.14 - PRIORITY RANKING OF MAIN STREET PROJECTS AND PRELIMINARY LOAN APPLICATION FORM

A. The committee in consultation with the division shall annually review and adopt a system for priority ranking of criteria applied to loan applications in a regular public meeting of the MSRLC. The priority ranking will assist the committee and the division in the review of applications and in funding decisions.

B. The division shall provide annual public notice of the availability of loans or loan subsidies from the main street revolving loan fund and the availability of a main street preliminary loan application form from the division.

C. A preliminary loan application form shall consist of the street address of the property, the names and street addresses of the parties, and their tax identification; the status of the property in a main street district per Subsection E of 12.21.3.7 NMAC, ownership, existence of legal protections, application date, description of proposed work, photographs, statement of condition, drawings or plans when required to describe work, and cost estimates of rehabilitation, restoration, or repairs, project start and completion dates, agreement to provide financial information per Paragraph (9) of Subsection B of 12.21.3.10 NMAC, and signature and date lines for the applicants. It will also include a certification page with a statement that the division has reviewed the project according to the priority ranking and the MSRL standards and recommends the project to the committee for approval, approval with conditions, denial, or tabling the application pending further information, division staff and committee signature and date lines.