94- 457 C.M.R. ch. 312, § 4

Current through 2024-51, December 18, 2024

Section 457-312-4 - Project Eligibility

A. Program funds may be used only for the following purposes:

(1) Business acquisitions, construction, conversion, enlargement, repair, modernization or development cost.

(2) The purchase and development of land, easements, rights-of-way, building, facilities, leases or materials.

(3) The purchase of equipment, leasehold improvements, machinery or supplies.

(4) Pollution control and abatement.

(5) Transportation services.

(6) Startup operating costs and working capital.

(7) Interest (including interest in interim financing) during the period before the facility becomes income producing, but not to exceed three (3) years.

(8) Feasibility studies.

(9) Authorized fees.

(10) Aquaculture, including conservation, development and utilization of water for aquaculture.

(11) Commercial nurseries primarily engaged in the production of ornamental plants and trees and other nursery products such as bulbs, florists' greens, flowers, shrubbery, flower and vegetable seeds, sod, the growing of vegetables from seed to the transplant stage.

(12) Forestry, which includes establishments primarily engaged in the operation of timber tracts, tree farms, forest nurseries, and related activities such as reforestation.

(13) Livestock and poultry processing.

B. Program funds may not be used for the following purposes:

(1) For agricultural production except as specifically identified in Section A.

(2) For the transfer of ownership unless the loan will keep the business from closing, or prevent the loss of employment opportunities in the area, or provide expanded job opportunities.

(3) For community antenna television services or facilities

(4) For any legitimate business activity when more than ten percent (10%) of the annual gross revenue is derived from legalized gambling activity.

(5) For any illegal activity.

(6) For any otherwise eligible project that is in violation of either a Federal, State or local environmental protection law or regulation or an enforceable land use restriction unless the financial assistance will result in curing or removing the violation.

(7) For any hotels, motels, tourist homes, or convention centers.

(8) For any tourist, recreation, or amusement centers.

94- 457 C.M.R. ch. 312, § 4