New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 93 - OPPORTUNITY ENTERPRISE ACT ENTERPRISE ASSISTANCE › Part 1 - GENERAL PROVISIONS › Section 2.93.1.9 - ENTERPRISE DEVELOPMENT PROJECT PROPOSAL, REVIEW, PRIORITIZATION AND APPROVAL PROCESS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				board and the department will administer an outreach program to local
				governments and potential opportunity enterprise partners for the purpose of
				making recommendations to the authority regarding enterprise assistance, and to
				notify applicants that enterprise development project proposals are being
				accepted for review by the project review committee and the board for
				prioritization and recommendation for funding to the authority.
B. The authority will provide forms and
				guidelines for enterprise development project proposals and applications for
				enterprise assistance. The authority may consider the recommendations and
				priorities of the board.
C.
				Applications for enterprise assistance shall describe the scope and plans of
				the enterprise development project or proposed use of leased property,
				demonstrate that the enterprise development project or lease will create or
				expand economic development opportunities within the state, demonstrate that
				the enterprise project or lease will contribute to the diversification of the
				state's economy, demonstrate that the enterprise development project or lease
				will comply with all applicable state and federal law, provide sufficient
				evidence that other means of financing a proposed enterprise development
				project are unavailable or insufficient, and include any other documentation or
				certifications that the authority deems necessary.
D. Department staff will complete an initial
				evaluation of the application for enterprise assistance and enterprise
				development project proposals promptly following receipt in consideration of
				information provided by applicants according to the factors listed in
				Subsection C of 2.93.1.9.NMAC. Such evaluation will include recommendations
				regarding suitability for enterprise assistance. The department may obtain
				input and information relevant to carrying out the purposes of the act from
				outside consultants in evaluating enterprise development project proposals and
				applications for enterprise assistance. The department will then forward to the
				project review committee for review, the relevant application and the
				corresponding recommendation of the department, along with all third-party
				input and information compiled by the department.
E. The project review committee will consider
				the proposed enterprise development project and may confer with outside
				parties, including any person familiar with the proposed enterprise development
				project, as necessary to obtain more information on the feasibility, merit, and
				cost of the proposed enterprise development project. The project review
				committee will make a recommendation to the board on each enterprise
				development project proposal.
F.
				Upon the recommendation of the project review committee, the board will
				prioritize the proposed enterprise development projects for recommendation to
				the authority for consideration of enterprise assistance.
G. After completion of the review process by
				the project review committee and the board and receipt of a favorable
				recommendation on the enterprise development project proposal, the prioritized
				enterprise development projects will be recommended by the board to the
				authority for consideration of enterprise assistance.
H. NMFA may request an additional application
				from recommended enterprise assistance projects.
I. A member of the board or employee of the
				authority with an interest, either direct or indirect, in an application or
				contract relating to enterprise assistance, shall disclose his or her interest
				to the authority and the board in writing and shall not participate in actions
				by the board or the authority with respect to that conflict.