Section R305-4-7 - Prioritization of Awards for Loan ApplicationsAs required by Subsection 19-1-404(1)(b)(iii), the department shall consider the following criteria in prioritizing and awarding loans:
(1) The feasibility and practicality of the project;(2) The financial need of applicant including its financial condition and the availability of other grants, rebates, or low-interest loans for the project;(3) Whether and to what extent the project is leveraged;(4) The environmental and other benefits to the state and local community attributable to the project; and(5) The applicant's creditworthiness.(6) When determining feasibility, the committee established in Subsection R305-4-4(4) may consider criteria including:(a) information regarding the cost of the project relative to market cost; and(b) the length of time proposed to complete the project.(7) When determining practicality, the committee established in Subsection R305-4-4(4) may consider criteria including:(a) the technology selected for the project; and(b) the location of the project.(8) When determining the environmental and other benefits to the state and local community attributable to the project, the committee established in Subsection R305-4-4(4) may consider criteria including: (a) the pollution reduction benefits attributable to the project;(b) the location of the project;(c) the accessibility and openness of any refueling equipment to the public, if applicable; and(d) the ratio of the total project cost to the environmental and other benefits attributable to the project.Utah Admin. Code R305-4-7
Amended by Utah State Bulletin Number 2023-04, effective 2/2/2023