Section 15-127-15 - General Guidelines(a) All actions taken by the corporation shall be necessary to achieve the purposes and objectives of this chapter. The corporation shall evaluate all programs after three years to determine their effectiveness.(b) Financial participation shall be made on the condition that the recipient of the assistance shall utilize the money to assist economic development projects within the State that have potential for increasing the diversification of the economic base and employment.(c) Investments by the corporation with persons shall be made on the basis of solicitation and a competitive technical review process, subject to the availability of funds allocated to the corporation for making investments. Any organization applying for an investment shall meet the following standards: (1) Have bylaws or policies that describe the manner in which business is conducted;(2) Be licensed and accredited as applicable, in accordance with requirements of federal, state, and county governments;(3) Comply with applicable federal and state laws prohibiting discrimination against any person on the basis of race, color, national origin, religion, creed, sex, age, or physical handicap; and(4) Comply with other requirements as the board may prescribe.(d) The corporation shall develop procedures to set priorities as to which types of businesses and industries are most likely to provide significant opportunities for economic development and diversification in the State, consistent with the purposes of this chapter. This evaluation shall take into account the guidelines provided by the state plan for economic development. Based on these findings, the corporation shall establish general targets by which the operations and investments of the corporation shall be guided.[Eff JUL 20 1991] (Auth: HRS § 211F-2) (Imp: HRS § 211F-2)