Section 3.103.110. Application evaluation standards.

	(a)  The authority may approve or reject a full application for financing under the Arctic infrastructure development program and fund by evaluating the following:  
		(1) whether the application requirements of this chapter have been met;  
		(2) the applicant's credit standing;  
		(3) the economic and financial viability of the proposed Arctic infrastructure development;  
		(4) the impact of the proposed infrastructure development on the portfolio of the Arctic infrastructure development program and fund, considering the concentration by industry area, technology, and geographic region and the concentration of financing provided to a single borrower and related obligors with respect to all of the authority's financing programs;  
		(5) whether and the extent to which the financing is consistent with the fulfillment of the purposes of the Arctic infrastructure development program and fund established in AS 44.88.800; and  
		(6) any other commercially reasonable underwriting criteria the authority, in its discretion, determines to be pertinent to the application, given the terms of the financing or the nature of the applicant or the proposed infrastructure development.  
	(b)  In evaluating the factors of (a) of this section, the authority may treat more favorably than otherwise would be the case an Arctic infrastructure development that will provide employment in an area of chronic or high unemployment.  

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 103.110 was effective 12/3/2015, it was not published until Register 218, July 2016.

History

Eff. 12/3/2015, Register 218

References

3.103.110