(A) Any qualifying entity meeting the definition set forth in §34.04 may propose an economic development project to the city. Meeting the definition of a qualifying entity does not create any obligation on the part of the City of Elephant Butte.
(B) Applications from qualifying entities shall be submitted to the City of Elephant Butte on forms provided by the city.
(C) Applications shall contain the following information for business applicants:
(1) Identification information:
(a) Complete name and address of entity;
(b) Incorporate papers with by-laws;
(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 principles);
(a) Financial statement (income statement and balance sheets) for the past three years;
(b) Federal tax number, New Mexico State Taxation and Revenue number and county business license; and
(c) Projected income statement for at least three years.
(3) Evidence of organizational capacity;
(a) Brief history of the entity;
(b) Organizational chart of the entity;
(c) Business plan 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 the public meeting.
(Ord. 166, passed 7-19-2017)