A. Any "qualifying entity" meeting the definition set forth in section 1-9-4 of this chapter may propose an economic development project to the village. Meeting the definition of a "qualifying entity" does not create any obligation on the part of the village of Cloudcroft.
B. Applications from qualifying entities shall be submitted to the village of Cloudcroft on forms provided by the village.
C. Applications shall contain the following information for business applicants:
1. Identification information:
a. Complete name and address of entity;
b. Incorporation papers with bylaws;
c. List of board of directors and executive director, with addresses; and
d. Resumes of all directors and officers.
2. Evidence of financial solvency (personal statement of principals):
a. Financial statement (income statement and balance sheets) for the past three (3) years;
b. Federal tax number, New Mexico state taxation and revenue number and village business license; and
c. Projected income statement for at least three (3) years.
3. Evidence of organizational capacity:
a. Brief history of the entity;
b. Organizational chart of the entity; and
c. Business plans for the entity and proposed project (shall include pro forma cash flow analysis).
4. The project participation agreement and any other pertinent information will be forwarded to the governing body for final consideration at a public meeting. (Ord. 346, 8-11-2008)