Current through September 17, 2024
Section 85-1C-005 - Evaluation of Application; Certification of Program or Project005.01 The Department will review all Applications based on the following criteria: 005.01A Extent and severity to which an area is experiencing chronic economic distress;005.01B Extent to which the proposed program or project will reduce chronic economic distress of the area;005.01C Extent to which the proposed program or project addresses the priorities established by the Department;005.01D Demonstrated capacity and performance of the Community Betterment Organization to execute the proposed program or project;005.01E The involvement of residents of the affected area in the planning of the proposed program or project and the extent to which they will be involved in its implementation;005.01F Extent to which private sector contributions have been committed to the proposed program or project, contingent upon approval of the program or project by the Department;005.01G Proposals submitted subsequent to the first year will be evaluated on performance of the prior year's program or project, other resources developed, and continued need.005.02 The decision of the Department to approve or disapprove all or any portion of an Application and/or certify a program or project for a designated amount of Tax Credits will be provided in writing within forty-five days of receipt of a complete Application. If the program or project is approved and/or certified for a designated amount of Tax Credits, the Department will prepare and transmit a written agreement to the Community Betterment Organization. The date the written agreement is fully executed by the Community Betterment Organization and the Department will determine the date from which contributions can be made to the approved program or project.85 Neb. Admin. Code, ch. 1C, § 005