99-626 C.M.R. ch. 2, § 3 - EXCEPTIONS TO PUBLIC CONTRIBUTION REQUIREMENT

Current through 2022-14, April 6, 2022

The Authority, with the advice of the Department of Economic and Community Development, the Department of Labor, the State Planning Office and such other agencies as the Authority determines are appropriate, may waive the requirements of Section 2(E) or (F) above, if the Municipality in which the Development Project or Redevelopment Project is located has experienced a historical lack of private investment, and it is reasonably expected that private investment will not be available to assist with financing of the Project and one of the following conditions is met:

A. The Project is located in a Municipality that has experienced a sudden and severe economic dislocation, which may include but is not limited to:

(1) The loss of a significant percentage of jobs within the Municipality due to the closure or downsizing of a business or other employer;

(2) The loss of a significant percentage of the Municipality's tax base due to the closure or downsizing of a business or other commercial taxpayer; or

(3) The unanticipated loss of a significant percentage or component of a Municipality's economic development infrastructure as a result of an accident, natural disaster or other catastrophe; or

B. The Project is located in a Municipality that has experienced long-term economic distress, as evidenced by factors that may include, but are not limited to:

(1) An unemployment rate that is significantly greater than the average state unemployment rate;

(2) The significant migration of workers or population out of the area; and

(3) An average personal income that is significantly below the state average or considered to be at or below the poverty level as defined in 22 MRSA §5321.

Notes

99-626 C.M.R. ch. 2, § 3