175-6-02 Application for a Development Loan.

(A) A sponsor or private developer shall submit, on a form provided by the agency, an application for a development loan.

(B) Applications that meet all minimum criteria as defined in this chapter and in agency guidelines shall be presented to the agency or committee of the agency for review.Approval shall be made by the agency.

(C) All applications shall include, at a minimum, the following items:

(1) Evidence that appropriate zoning has been obtained.

(2) Evidence that site control has been obtained.

(3) Evidence of sufficient collateral to secure the amount of the development loan.

(4) Evidence of the need for the proposed development project at the proposed location.

(5) Sufficient information on the identity and experience of all officers, general or limited partners and other personnel who would be involved in the project.

(6) A detailed budget of the sources and amounts of all lenders and other financing needed for the development project.

HISTORY: Eff 12-29-87; 3-23-04

Rule promulgated under: RC 119.03

Rule authorized by: RC 175.02

Rule amplifies: RC 175.04(Q), 175.06

RC 119.032 Review Date: 3/23/09