When applications for financial assistance under the program
are reviewed, the criteria below will be considered and the application scored
as described. When scoring the application according to each of the criteria
below, to the extent that a proposed project involves multiple public and
private sector entities, for-profit and nonprofit organizations, and economic
development and educational institutions, the council will review such
partnerships as indicating that a commonly utilized asset is being proposed and
therefore may award more points under each criterion. The criteria under which
each application will be scored are:
(1) The overall quality of the project,
especially as reflected in the description and explanation submitted pursuant
to subrule 118.5(1): 20 points.
For purposes of this subrule, the council will consider a
project's estimated economic impact and the extent to which it contributes to
the overall quality of the project. The council will also consider the
structure of the proposed project and the nature of the partnerships proposed
to be formed as part of the proposed project.
(2) The extent to which the commonly utilized
asset proposed by the project benefits one or more private sector entities and
the extent to which the commonly utilized asset creates necessary physical
infrastructure in the state: 20 points.
For purposes of this subrule, more points will be awarded to
projects demonstrating greater benefits or benefits to more entities and to
projects demonstrating more critical necessary physical infrastructure.
(3) The extent to which the
proposed project provides benefits that are not adequately provided by the
public or private sectors: 20 points.
(4) The importance of the vertical
infrastructure improvement developments, facilities and equipment upgrades, or
the redevelopment or repurposing of underutilized property or other assets that
are proposed, the extent to which the proposed project will attract additional
public or private sector investment, and the likelihood that the project will
result in broad-based prosperity in the state: 20 points.
(5) The sufficiency of the proposed project's
financing structure, the feasibility of the sources of funds, and the
appropriateness of the proposed uses of the funds: 20 points.
For purposes of this subrule, the council will consider a
proposed project's overall financing gap and the total amount of funds
leveraged from other sources.
