Ala. Admin. Code r. 305-5-5-.08

Current through Register Vol. 43, No. 1, October 31, 2024

Section 305-5-5-.08 - Criteria For Funding Construction And Renovation Or Expansion Grants

Funding decisions on applications for funding construction and renovation or expansion grants will be made by the Committee based on the criteria listed below:

(1) Purpose or mission of incubator.

(2) Match:

(a) Amount of match

(b) Percent of match relative to total project cost

(c) Certainty of match

(d) Nature of match.

(3) Suitability of community for incubator:

(a) Critical mass based on factors listed below:

1. Population base

2. Proximity of technical assistance

3. Base of potential entrepreneurs

4. Leadership potential/community support

(b) Relationship to other communities in incubator network if part of network.

(4) Suitability of building:

(a) Location

(b) Characteristics of building:

1. Size

2. Structural soundness

3. Internal configuration/layout

4. Quality of space

5. Adaptability of building

6. Cost

7. Other

(c) Appropriateness of proposed building in relation to mission of incubator.

(d) Expected results from activity:

1. Increased jobs

2. Operational efficiency

3. Effectiveness

4. Improved business environment

5. Other.

(5) Services to be provided to clients:

(a) Type of services to be provided

(b) Quality of services

(c) Suitability of services

(d) Expected cost of operation.

(6) Technical assistance and consulting services:

(a) Type of assistance to be provided tenants

(b) Quality of assistance to be provided tenants:

1. Background of provider

2. Proximity of provider

3. Expected cost of assistance

(c) Appropriateness of technical assistance and consulting services to be provided.

(7) Appropriateness of operational policies:

(a) Business plan for incubator

(b) Entrance policies for incubator

1. Business plan for applicants

2. Method of determining:

(i) Viability of business concept

(ii) Viability of marketing strategy

(iii) Soundness of principals:

(I) Financial history

(II) Business history

(c) Level of subsidy to be provided tenants:

1. Basis for determination

(d) Graduation policies:

1. Time frame

2. Profitability and soundness of company

3. Exceptional cases.

(8) Nature of policy making board of incubator:

(a) Make-up of board

(b) By-laws

(c) How elected or appointed

(d) Conflict of interest provisions.

Ala. Admin. Code r. 305-5-5-.08