Section 15-307-24 - Eligible developer, information required; determination by corporation(a) An individual, partnership, limited liability company, cooperative, including a limited equity housing cooperative as defined in chapter 421H, HRS, firm, a profit or a nonprofit corporation, or a public agency that desires to be considered to develop a project either together with the corporation, or independent of the corporation, and who, in connection with the development of a project will need assistance such as acquisition of land or development rights to land, financing, subsidies, exemptions from general excise taxes, or expedited processing of a project under the provisions of chapter 201H, HRS, and the rules promulgated thereunder, shall submit to the corporation a developer's application, on forms provided by the corporation, along with any additional information that the corporation determines to be applicable. Information requested may include, but is not necessarily limited to:(1) Name, address, email address, and telephone number of the applicant and each member of the project team, and evidence of the applicant's status as a corporation, partnership, joint venture or other business organization;(2) A summary of the role and responsibilities of each team member as it pertains to the project;(3) If the applicant is a corporation, certified copies of the articles of incorporation, and the names, addresses, email addresses, and telephone numbers of each of the officers and directors of the corporation, and of any shareholder of the corporation holding more than twenty-five per cent of the outstanding shares issued by the corporation. If the applicant is a partnership, joint venturer, or sole proprietorship, certified copies of the partnership, joint venture agreement or proprietorship, as applicable, and the names, addresses, email addresses, and telephone numbers of each of the individual partners, joint venturers, or owners;(4) A resume of the applicant's experience in the development of housing projects including a list and a brief description of the projects in which the applicant participated;(5) The name, title, address, email address, and telephone number of the person to whom communications should be addressed;(6) Evidence of the applicant's legal authority to incur obligations and to sign and deliver such documents as may be necessary to finance, develop, and construct the project;(7) A current certificate of good standing from the department of commerce and consumer affairs, tax clearance from the department of taxation, and certification of compliance with department of labor and industrial relations requirements;(8) Evidence of the applicant's capability to develop, own, manage, and provide appropriate services in connection with housing;(9) Evidence of the applicant's credit worthiness including the following financial information, which shall be kept confidential to the extent permitted by law: (A) The most recent year's financial statements. If the statements are unaudited, tax returns shall be provided. In the event the applicant is an entity not yet formed, federal and state tax returns and financial statements for the previous year of the applicant entity, or additional information the corporation may require;(B) Interim balance sheets and income statements of the applicant and principal developer if the fiscal yearend data is over nine months old;(C) Tax returns if the applicant or guarantor is an individual;(D) Articles of incorporation, bylaws, resolutions, and certificates of good standing as are appropriate to support corporate actions; and(E) Any other financial data deemed appropriate by the corporation for proper credit-worthiness analysis;(10) The applicant's ties to the community and support from local community groups;(11) Description of all housing projects or facilities owned or operated by the applicant;(12) A description of any financial default, modification of terms and conditions of financing, or legal action taken or pending against the applicant or its principals;(13) A description of the applicant's past or current business experience or involvement in any programs or of its provision of services, other than housing, if any, that would give evidence of the applicant's management capabilities;(14) Evidence of ability to secure the necessary performance or payment bond or other evidence of surety and the ability to perform the work required to be performed in the housing project proposed;(15) A statement of the applicant's past or current involvement with the corporation or its predecessors, and the assistance, if any, received from those entities;(16) A project proposal in substantial compliance with section 15-307-26, which the applicant intends to submit to the corporation for approval; and(17) Any other information that the corporation deems necessary to determine the qualification of the applicant.(b) The board may certify that the applicant is an eligible developer for the purposes of development of housing projects approved by the corporation under chapter 201H, HRS, if the board finds that the applicant: (1) Has demonstrated compliance with all laws, ordinances, rules, and other governmental requirements that the applicant is required to meet;(2) Has the necessary experience;(3) Has adequate and sufficient financial resources and support and has secured or has demonstrated the ability to secure a performance or payment bond, or other surety to develop housing projects of the size and type which the applicant proposes to develop; and(4) Has complied with the requirements of a government assistance program approved by the corporation, or met all other requirements that the corporation determines to be appropriate and reasonable. [Eff DEC 04 2010] (Auth: HRS §§ 201H-4, 201H-33) (Imp: HRS § 201H-40)