Section 3.99.560. Evaluation standards.

	(a)  The authority may approve or reject a full application for development project financing for a development project that the authority will not own and operate by evaluating the following:  
		(1) whether the application requirements of this chapter have been met;  
		(2) the project applicant's credit standing;  
		(3) the economic and financial viability of the proposed development project;  
		(4) the impact of the proposed development project on the authority's portfolio of development projects, 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 development project financing is consistent with the fulfillment of the authority's purposes under AS 44.88.070, including the number of temporary and permanent jobs created by the proposed development project;  
		(6) the interests of local governments impacted by the proposed development project; and  
		(7) 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 project applicant or the proposed development project.  
	(b)  In evaluating an application for development project financing, the authority may utilize experts, professionals, counsel, or consultants the authority determines will be of assistance to the evaluation. The authority may require the project applicant to reimburse the authority for all or a designated portion of the cost of any expert, professional, counsel, or consultant used in the evaluation process.  

Authorities

44.88.070;44.88.080;44.88.085;44.88.172

Notes

Reference

3 AAC 99.590

Authority

AS 44.88.070 AS 44.88.080 AS 44.88.085 AS 44.88.172

History

Eff. 12/5/2013, Register 209