Section 3.103.070. Full application.

A full application for financing under the Arctic infrastructure development program must be submitted to the authority on the form the authority has approved. The authority may require the applicant to include with the completed full application form any or all of the following:  
		(1) a letter of transmittal;  
		(2) current balance sheet and profit and loss statement for the applicant, not more than 90 days old; a fiscal-year balance sheet and profit and loss statement for the prior three years of operation of the applicant; current balance sheet and federal income tax return for the prior two years for any proposed guarantors and co-borrowers;  
		(3) copies of the applicant's federal income tax returns for the prior three years;  
		(4) a statement of all outstanding indebtedness of the applicant;  
		(5) proof of ownership of land on which the Arctic infrastructure development is to be sited, or a copy of the lease or other real property documents for the land related to the Arctic infrastructure development;  
		(6) a detailed description of the Arctic infrastructure development, including detailed legal description of all real property and detailed specifications for all tangible personal property that will be part of the Arctic infrastructure development;  
		(7) a detailed estimate of the cost of construction, improvement, rehabilitation, or expansion of the Arctic infrastructure development;  
		(8) an estimate of number of construction and permanent jobs to be created or retained by the Arctic infrastructure development;  
		(9) a copy of any pre-existing appraisals estimating the value of the real property where the Arctic infrastructure development is located;  
		(10) a financial feasibility analysis in a form and with a level of detail satisfactory to the authority;  
		(11) agreements or the terms for agreements in support of the financial feasibility analysis that the applicant reasonably expects to obtain; the agreements or terms must be provided for review;  
		(12) an environmental risk assessment satisfactory to the authority, followed by an environmental audit at the level specified by the authority, if required by the authority;  
		(13) a detailed development schedule, to include site selection, geotechnical investigation, schedule for and status of processes under 42 U.S.C. 4321 - 4347 (National Environmental Policy Act of 1969) (NEPA), status of project permits, including wetlands, wildlife impacts, and archeological data; the full application must include a discussion of whether NEPA requires an environmental impact statement or environmental assessment, and schedule for any level of NEPA activities and issuance of a record of decision;  
		(14) a public benefit statement enumerating the community and statewide benefits that the proposed Arctic infrastructure development will create, which may include  
			(A) improvement of environment;  
			(B) reduction in flow of money out of communities;  
			(C) economic development; and  
			(D) attraction of job creating industries to communities or regions;  
		(15) any other information the authority requests.  

Authorities

44.88.085;44.88.800;44.88.820;44.88.830

Notes

Authority

AS 44.88.085 AS 44.88.800 AS 44.88.820 AS 44.88.830 Editor's note: Even though the adoption of 3 AAC 103.070 was effective 12/3/2015, it was not published until Register 218, July 2016.

History

Eff. 12/3/2015, Register 218

References

3.103.070