The following factors will be considered in the loan review process for all RLF loan applications.
(A) Highest priority will be given to projects creating at least one job per every $5,000 of RLF monies. Except under exceptional circumstances, the RLF will not consider projects where the ratio exceeds $10,000 per new long-term job created. Jobs used for purposes of this ratio are those existing at the end of two years after startup. Construction jobs in the building of the facility are not included.
(B) Highest priority will be given to projects in which RLF funds do not exceed 33% of total project costs. Except under exceptional circumstances, the RLF will not consider projects which exceed 50% of total project costs.
(C) No RLF loans shall be made if funding is otherwise available from private lenders on terms that would allow for the successful completion of the project.
(Res. passed 12-27-1993)