Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 700 - CHILD CARE INFRASTRUCURE PROGRAM
Section 123-700-0050 - Conditions Precedent to Award
Universal Citation: OR Admin Rules 123-700-0050
Current through Register Vol. 63, No. 12, December 1, 2024
(1) Prior to making an award for a Child Care Infrastructure Project, the Department must make the following determinations:
(a) The project is feasible as demonstrated
by certification from a professional engineer or architect registered in the
State of Oregon in a feasibility study or other feasibility documentation
approved by the Department;
(b) Any
Program loan will be secured by the pledge of business revenues or other
revenues or payments from the owners of any specially benefited properties, and
these revenues or payments are sufficient, when considered with other security,
to assure repayment of the loan and the recipient has certified to the
Department that there will be adequate funds available to repay the
loans;
(c) Moneys in the
appropriate accounts of the Fund are or will be available for the
project;
(d) The applicant is
willing and able to enter a contract with the Department;
(e) The project complies with the
requirements governing assistance from the Fund;
(f) The applicant has demonstrated that it
has, or can secure, the administrative capacity to undertake and complete the
project; and
(g) The applicant has
demonstrated:
(A) that it and its project are
eligible to receive a Program award,
(B) the ability to secure full funding for
the project,
(C) the project will
be completed within the required timeline, and
(D) the ability to provide services and
remain financially solvent throughout the term of project.
(2) For a Planning Project, the Department must determine that the requirements set out in sections (1)(b)-(g) of this rule are met.
Statutory/Other Authority: ORS 285A.075
Statutes/Other Implemented: OR Laws 2023 ch 523
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