New Mexico Administrative Code
Title 8 - SOCIAL SERVICES
Chapter 321 - SPECIALIZED BEHAVIORAL HEALTH SERVICES
Part 7 - BEHAVIORAL HEALTH CAPITAL FUND PROGRAM
Section 8.321.7.8 - LOAN APPLICATION PROCEDURES
Universal Citation: 8 NM Admin Code 8.321.7.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. Contingent upon a sufficient balance in the fund, the authority may accept applications at any point during the state fiscal year.
B. The authority will provide forms and guidelines for a loan application and applications must be submitted on that form. The application shall be signed by the authorized representative and submitted to the department. Only applications that are complete will be considered for a loan. The application shall include the following.
(1) The amount of the loan
requested and an itemization of the proposed use or uses of the loan.
(2) A detailed description of the
circumstances that demonstrate the need for the project, including:
(a) the eligibility of the
applicant;
(b) the programmatic
appropriateness;
(c) the facility's
need;
(d) the needs of
community.
(3) A
detailed description of the project, including:
(a) a description of the scope of work of the
project;
(b) the estimated cost of
the project;
(c) the target date
for the initiation of the project and the estimated time to
completion;
(d) the estimated
useful life of the project and selected components (furnishings, equipment,
etc.), as detailed on the application form;
(e) proof of applicable licenses and
certifications; and
(f) other data
as requested by the department or the authority.
(4) A copy of the applicant's articles of
incorporation and by-laws and a certificate of good standing from the New
Mexico public regulation commission.
(5) A copy of the applicant's internal
revenue service tax exempt determination letter.
(6) A letter certifying that the project was
duly authorized and approved by the applicant's governing body.
(7) The identification of the source of funds
for repayment of the loan and the source of funds to operate and maintain the
project over its useful life.
(8)
The applicant's audited financial reports for the most recent five years, or
term of existence, along with its projected cash flows for five
years.
(9) The requested loan
payback period.
(10) Any existing
title insurance policies, title abstracts or searches of the real property
owned by the applicant.
(11)
Information on the current and proposed services of the applicant to the sick
and medically indigent.
(12)
Additional information as requested by the department or the authority that is
requested at any point in the application process.
Disclaimer: These regulations may not be the most recent version. New Mexico 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.
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