4981-1-07. Eligibility criteria

The ORDC shall determine the eligibility of a project based on the following criteria:

(A) Whether environmental assessments and subsequent clearance processes are complete to the extent necessary to meet the funding source requirements;

(B) Whether preliminary engineering will be completed prior to loan closing. "Preliminary engineering" includes the major investment study, wetlands analysis and mitigation plan, and any other required studies.

(C) Whether the borrower guarantees cost overruns;

(D) Whether the project will have an identifiable revenue source which, in the ORDC's determination, likely will amortize the project debt;

(E) The borrower's ability to repay;

(F) The borrower's ability to manage the project;

(G) The borrower's working capital or operating funds;

(H) The public need or public benefit of the project;

(I) The borrower's available collateral; and

(J) The status of the project in relation to actual construction startup;

(K) Any other criteria the ORDC determines appropriate.

Five Year Review (FYR) Dates: 2/27/2020 and 02/27/2025
Promulgated Under: 111.15
Statutory Authority: 111.15
Rule Amplifies: ORC Chapter 4981, 4981.14
Prior Effective Dates: 10/31/1996 (Emer.), 01/10/1997

Prior History: (R.C. 119.032 review dates: 05/13/2014 and 05/12/2019
Promulgated Under: 111.15
Statutory Authority: 4981.14
Rule Amplifies: ORC Chapter 4981
Prior Effective Dates: 10/31/96 (Emer.), 1/10/97)