Section 85-1C-004 - Content of the Application Proposals mil be submitted to the Department for evaluation as to tax credit status. Proposals must include the following:
004.01 The Application must include all of the following:004.01A A description of the project or program to be conducted, including and the Community Assistance or Community Services that will be provided as a result of the project or program.004.01B A description of the Community Development Area, including the geographical location and boundaries of the Community Development Area.004.01C Evidence that the program or project addresses at least one (1) of the following priorities established by the Department: (a) the program or project substantially contributes to self-help effort by building the capacity of residents of the area to be served in addressing locally defined objectives; (b) the program or project will result in the provision of essential services to low and moderate income persons which are not adequately being provided in the affected neighborhood and for which there are no other readily available resources; or(c) the program or project tangibly contributes to the development of lasting cooperation and partnership efforts of area organizations and businesses.004.01D The estimated amount to be required for completion of the program or project, including: (1) a proposed budget for the program or project with information on personnel and administrative overhead costs;(2) the amount of Tax Credits requested for the year of Application; and(3) the amount of contributions pledged and/or anticipated from Individuals or Business Firms eligible for Tax Credits, and other sources of funding for the program or project.004.01E The annual estimated amount required for an ongoing program, including a proposed annual budget with information on personnel and administrative overhead costs, and the amount of Tax Credits anticipated to be sought in future years.004.01F A description of the Community Betterment Organization's plans and capacity for implementing the program or project and continuing the program or project.004.01G Documentation that the Application was reviewed by the appropriate Subdivision of Local Government, including any comments on the Application provided by the Subdivision of Local Government; and information regarding whether the Application is consistent with any community development plan that may exist for the area in which the Community Betterment Organization will provide Community Services or Community Assistance.004.01H If the Community Betterment Organization is recognized by the Internal Revenue Service of the United States Department of the Treasury as an organization to which contributions are tax deductible, documentation of such recognition.004.02 Proposal must include documentation of the chronic economic distress in the area. Applicants must include the currently available data in the following categories certifying that the proposed area meets a majority of the categories. 004.02A Unemployment - An unemployment rate which exceeds the statewide average unemployment rate.004.02B Per Capita Income - A per capita income below the statewide average per capita income,004.02C Vacant and Substandard Housing Stock - The percentage of vacant and substandard housing stock which exceeds the statewide average for vacant and substandard housing stock.004.02D Depressed housing valuations which exceed the statewide average rate for depressed housing valuations.004.02E Crime - A crime rate index which exceeds the statewide average crime rate index.004.03 Each proposal must evidence that it addresses at least one (1) of the following established state priorities. 004.03A The project substantially contributes to self-help effort by building the capacity of residents of the area to be served in addressing locally defined objectives;004.03B The project will result in the provision of essential services to low and moderate income persons which are not adequately being provided in the affected neighborhood and for which there are no other readily available resources;004.03C The project tangibly contributes to the development of lasting cooperation and partnership efforts of area organizations and businesses.004.04 Each proposal must contain a proposed budget and narrative to include004.04A A breakdown of personnel and non-personnel costs.004.04B A breakdown of administrative overhead and direct project costs, where applicable.004.04C The estimated total amount required for completion of the program/project or the annual estimated amount for an ongoing program, if a multi-year program is proposed.004.04D The amount of contributions committed and/or anticipated from business firms for such activities or services.004.04E The amount of tax credits required for the completion of the project.004.04F Documentation on how the requested tax credits and proposed activities/services fit into the overall budget and ongoing activities of the applicant.004.05 Each proposal must include proof of review by a subdivision of local government in which the community betterment organization exists.004.05A Subdivision of Local Government - If the subdivision of local government has adopted a community development plan for an area in which the community betterment organization is providing community assistance or community services, the organization shall submit a copy of the program proposal to the chief executive officer of such subdivision. If the program proposal is not consistent with the adopted community development plan of the local subdivision, the chief executive officer shall so indicate and the proposal shall not be approved by the Department. If the proposed activities are consistent with the adopted community development plan, but for other reasons they are not viewed as appropriate by the local subdivision, the chief executive officer shall so indicate.004.05B County Division of Local Government - If the local subdivision of government does not have an existing community development plan, but such a plan exists on the county level, the program proposal may be submitted to the county for review. Comments shall be forwarded by the county to the Department.004.06C Governing Board - If there is no existing community development plan for the area in which the community betterment organization is providing community assistance or community services, a copy of the program proposal shall be submitted to the governing board of the local subdivision for review and comment. Comments shall be forwarded by the local subdivision to the Department.004.05D Failure to Approve - In all cases, the local subdivision shall review the proposal within forty-five days from the date of receipt. If the subdivision does not issue its finding concerning the proposal within forty-five days after receipt, the proposal shall be deemed approved,85 Neb. Admin. Code, ch. 1C, § 004