870 R.I. Code R. 11

Current through December 3, 2024
Rule 11 - Review Process.
(a) Each Preliminary and Final Application shall be reviewed to confirm compliance with the Act and these Rules, and the Corporation may reject any incomplete or deficient Application.
(b) The Corporation may require the submission of additional information in connection with any Preliminary or Final Application or the revision of any Preliminary or Final Application, and may permit the resubmission of a Preliminary or Final Application rejected as being incomplete or deficient.
(c) After submission of complete Preliminary and Final Applications and review by the Corporation in accordance with the requirements of the Act and these Rules, the Corporation will determine whether to recommend to the Board that it approve a Tax Credit for the Applicant and the amount of the Tax Credit. Factors considered in formulation of the recommendation may include, but not be limited to:
(1) the number of New Full-Time Jobs created;
(2) the compensation for the New Full-Time Jobs created including benefits;
(3) the length of time the New Full-Time Jobs are committed to remain in the State;
(4) whether the jobs created are in a Targeted Industry;
(5) whether the Qualifying Relocation benefits a Hope Community;
(6) whether the Qualifying Relocation occurs in a Redevelopment Area;
(7) the strategic importance of the Qualified Business and/or the Applicant;
(8) the economic return to the State; and
(9) area brokers' fees.
(d) If the Corporation determines that it will not recommend a Final Application to the Board for approval of an incentive, it shall notify the Applicant in writing of such decision.
(e) The Corporation may set periodic Application deadlines that will be published on the Corporation's web site from time to time.

870 R.I. Code R. 11