Kan. Admin. Regs. § 110-3-1

Current through Register Vol. 43, No. 49, December 5, 2024

Section 110-3-1 - Application criteria

Each application for a loan through the Kansas partnership fund shall be reviewed and evaluated by the secretary of commerce. Unless waived by the secretary, each application shall provide sufficient information to document:

(a) The applicant's need for economic develop-ment;

(b) the number of new, permanent, private sector jobs to be created by the project;

(c) the projected impact of resulting business activity on the area, including new tax revenues to the borrower, and the availability of that revenue to help repay the program loan;

(d) the estimated cost based on an engineering or other reliable estimate of the complete project to be funded by the loan;

(e) the basis of the applicant's need for a loan from the State, including evidence that other financing options have been investigated and either are not readily available or will not cover total project costs;

(f) the availability of other funds to adequately finance any related improvement or service incidental to the project, and to finance any part of the project costs not covered by the loan;

(g) the applicant's total current and projected future debt obligations;

(h) the project's consistency with the applicant's comprehensive plans and with the applicant's five-year capital improvement plans; and

(i) any other information deemed pertinent by the secretary.

Kan. Admin. Regs. § 110-3-1

Authorized by and implementing L. 1988, Ch. 394, Sec. 2; effective Feb. 27, 1989.