Current through Register Vol. 46, No. 12, March 20, 2024
(a) Form
of application. Applications for financial assistance from the corporation
hereunder shall be made on forms developed by the corporation in consultation
with the department. In addition to any other information deemed necessary by
the corporation or the department, applications shall require all or some of
the following information:
(1) information
about the applicant, including history, organizational structure, size and
services rendered;
(2) information
about the proposed project including, without limitations, total project costs,
total assistance requested, proposed uses of funds, other proposed sources of
funding, and the current status of the proposed project;
(3) information about the site of the
proposed project and its impact, if any, on the environment and any landmark or
historic properties;
(4) a business
plan, resumes of members of the board of directors, principal officers, a child
care needs analysis and marketing strategy;
(5) a discussion of the need for the
assistance requested and a description of the expected impact of the assistance
on the applicant and the community;
(6) a complete set of financial statements
for at least the three preceding fiscal years, and operating pro formas going
forward three years;
(7) a list of
proposed collateral, with appraisals;
(8) a budget breakdown of the sources and
uses of funds to be applied to the proposed project;
(9) copies of firm commitments from other
funding sources in an amount at least equal to the difference between total
project costs and the amount of assistance sought from the
corporation;
(10) for proposed
projects involving construction or the acquisition of real estate the following
documentation:
(i) a copy of the purchase
option or contract of sale;
(ii) a
legal description and survey of the property;
(iii) a construction-to-occupancy schedule;
and
(iv) copies of the preliminary
architectural drawings, scope of work, and schematics.
(b) Review of applications.
Applicants for assistance hereunder shall submit their applications to the
department for review and assessment. Based upon its timely review and
assessment, the department shall rank the proposed projects giving priority to
those which demonstrate the greatest capacity to satisfy the need for child day
care services as identified by the department. In addition, the department
shall take the following factors into consideration in assigning priority to
the proposed projects:
(1) the need for day
care services in the location of the proposed project;
(2) the potential for the proposed project to
succeed as a child day care center;
(3) the qualifications of the proposed
operator of the child day care center;
(4) the degree to which the proposed child
day care center may satisfy all applicable legal and regulatory
requirements;
(5) the degree to
which the location of the proposed project is appropriate for the operation of
a licensed child day care center; and
(6) such other matters as the department may
determine are relevant.
