Ala. Admin. Code r. 460-X-25-.10

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

Section 460-X-25-.10 - [Effective until 12/15/2024] Criteria Descriptions

The Committee shall rank the Qualifying Projects based on the established criteria for each Application Period. Projects shall be ranked in order by their total score.

(a) Relative value of the proposed project to the community. Relative value is a method of determining a Project's merit when considering the similar Projects in the area. 0 to 14 points

(b) The maintenance of the historic fabric of the community. The Project should retain its historic integrity after the rehabilitation and complement and enhance other historic properties in the area. Will buildings that are underutilized or not occupied be rehabilitated? 0 to 14 points

(c) Possible return on investment for the community.

Does the Project address a specific community need? Will the Project lead to the development of public/private partnerships? Will the Project create economic growth in distressed areas?

0 to 16 points

(d) Geographic distribution of projects. For each quarterly Evaluating Committee meeting, the Commission will develop a map that plots the location of each Qualifying Project to be used by the Committee to determine geographic diversity.

0 to 14 points

(e) What is the likelihood of the project proceeding without the state historic tax credit?

0 to 14 points

(f) Strength of local support for the proposed project. Has the Project received support from the local municipality, county, legislative delegation, or community stakeholders? 0 to 14 points

(g) Public Financing. Are there any additional tax credits or state, federal, or local government grants the applicant expects to utilize for the construction of the Project? 0 to 14 points

Ala. Admin. Code r. 460-X-25-.10

Adopted by Alabama Administrative Monthly Volume XXXV, Issue No. 11, August 31, 2017, eff. 9/24/2017.

Amended by Alabama Administrative Monthly Volume XL, Issue No. 03, December 30, 2021, eff. 2/13/2022.

Authors: Chloe Mercer; Lee Anne Wofford; Clara Nobles

Statutory Authority: Act 2017-380.