Current through Register Vol. 46, No. 39, September 25, 2024
(a) In order to
be considered to receive financial assistance from the fund, each project
sponsor must submit a pre-application to the corporation. The pre-application
shall include information sufficient for the corporation to evaluate the
proposed project. The corporation may request from a project sponsor:
(1) a written request from the project
sponsor that the proposed project be listed in the DWIUP, if
eligible;
(2) a description of the
proposed project, including its location, estimated cost, a project
construction schedule that includes the estimated dates of construction
commencement and completion;
(3) a
description of the need for the project;
(4) the economic development impact of the
proposed project, including, but not limited to, the number of jobs estimated
to be created or retained, the economic benefit to the State, and the costs and
benefits of the project;
(5)
information regarding the creditworthiness of the project sponsor, including
financial statements and other relevant documents the corporation determines
are necessary to determine such creditworthiness;
(6) information regarding the project
sponsor, including information on any past felony convictions and other crimes
of moral turpitude; and
(7) such
other information as the corporation may deem necessary to determine the
project's eligibility for assistance from the fund.
(b) In order to be considered to receive
assistance from the fund, each project sponsor shall submit a completed
pre-application to the corporation prior to the pre-application deadline
contained in the notice described in section
2605.4 of this Part.
(c) Following the pre-application deadline:
(1) The corporation will evaluate the
reasonableness and viability of each of the projects for which a complete
pre-application has been submitted. In making such an evaluation, the
corporation shall consider such factors as the corporation deems necessary,
including, without limitation, evaluating the creditworthiness and background
of project sponsors, as well as consulting with DED and other State
agencies.
(2) The corporation shall
request that DOH determine whether each proposed project is eligible for DWSRF
financing. For those projects deemed eligible for DWSRF financing, the
corporation shall request DOH to determine the DWSRF score and include the
project in the DWIUP with a notation that the eligible project may also be
eligible for assistance from the fund. Those eligible projects deemed
ineligible for DWSRF financing shall also be included with the DWIUP, as a
separate list, and clearly marked as only being eligible for assistance from
the fund.
(3) For any projects that
would create, construct or modify a public water system, the corporation shall
request DOH to review such projects to ensure that such projects meet all
applicable State and Federal regulations.
(4) The corporation shall also request that
DEC review all pre-applications and determine whether any projects require any
DEC permits or approvals.
(5) The
corporation may also seek other assistance it deems necessary to review the
projects for which pre-applications were submitted.
(d)
(1)
Once the corporation has completed its evaluation of the pre-applications, the
corporation shall forward a list of eligible projects to DED along with a
statement of the available funding period resources.
(2) Using the information obtained during the
pre-application period, DED will then recommend to the corporation the projects
to be financed with the available funding period resources. In making this
recommendation, DED shall consider the number of jobs the project will create
and/or retain, the costs and benefits of the eligible project as compared to
other projects, the overall economic benefit of the project to the State and
the potential for the proposed project to enhance the State's technology
industry development effort, as well as any other criteria determined by DED to
reflect the proposed project's potential benefits to the State.
(3) As part of this request, the corporation
shall also request that DED prioritize the listed projects.
(e) The corporation will review
the list of eligible projects compiled by DED and the recommendations. The
corporation will then make a final determination as to which projects will be
provided assistance from the fund based upon this determination and any other
factors that the corporation deems appropriate.
