La. Admin. Code tit. 33 § VI-1119

Current through Register Vol. 50, No. 11, November 20, 2024

Section VI-1119 - Prioritization of Applicants and Sites to Receive Loan Funds

A. Applicants may be prioritized for receipt of loan funds based on the ranking criteria in this Section. These factors may be further elaborated, refined, or detailed in the loan application.

B. The criteria (not in order of importance) for ranking applicants are as follows:

1. the potential of the site for redevelopment and productive reuse;

2. the potential for creation of temporary and permanent jobs and/or increased state and local tax revenues by the cleanup, redevelopment, and reuse of the site;

3. the potential of the project to create greenspace;

4. the ability of the applicant to repay the loan;

5. other cleanup funds available to the applicant to supplement revolving loan fund dollars;

6. funds available to the applicant to redevelop the property;

7. the degree of need for community revitalization in the area surrounding the site, as evidenced by significant deterioration, job loss, majority low-income households, or other factors as determined by the department;

8. the estimated value of the remediated property as compared to the estimated cost of the cleanup of that property; and

9. other ranking factors provided by the department.

La. Admin. Code tit. 33, § VI-1119

Promulgated by the Department of Environmental Quality, Office of the Secretary, Legal Affairs Division, LR 31:2220 (September 2005).

AUTHORITY NOTE: Promulgated in accordance with R.S. 30:2001 et seq., and in particular R.S. 30:2551-2552.