Section Bfa 304.04 - Evaluation of an Application(a) Upon receipt of a complete application in accordance with Bfa 301, the executive director and staff of the authority shall review the material contained in the application. The executive director or any designated member of the staff of the authority shall request any additional information from the applicant or other interested party as shall be deemed by the executive director and staff of the authority to be necessary or advisable to evaluate the credit worthiness of the applicant or the proposed transaction or to provide additional information to permit the board to evaluate the quality of the proposed credit enhancement as required by RSA 162-A:18.(b) All records, materials, documents or information submitted to the authority in connection with an application for award of a credit enhancement shall constitute confidential, commercial and financial information the disclosure of which could adversely impact the competitive status of an applicant or an interested party. Accordingly, such records, materials, documents or information shall be maintained as confidential by the authority and, pursuant to RSA 91-A:3, II(h) and RSA 91-A:5, IV, shall not be subject to public inspection unless the applicant shall request in writing that such information be subject to public disclosure.(c) Upon completion of review by the executive director and staff of the authority, the application shall be considered at a meeting of the board. Consideration of an application under RSA 162-A:7, RSA 162-A:8, RSA 162-A:9, RSA 162-A:10 and 162-A:13 shall be conducted in nonpublic session, unless the applicant requests a meeting that is open to the public. Attendance by the staff of the authority or professional advisors to the authority shall not cause the nonpublic session to be treated as a public session.(d) Minutes of proceedings in nonpublic session shall be kept and shall be withheld from public disclosure until the applicant requests public disclosure of such minutes or until it is determined by a majority of the voting board members that public disclosure of such minutes likely would not adversely affect the reputation or competitive position of the applicant or interested party. The board shall consider any written submission concerning the application which may be supplied to the authority by a party other than the applicant.(e) The board shall approve an application for recommendation to governor and council if the board determines, after considering the following criteria, that the credit enhancement proposed in the application serves a public use and provides a public benefit: (1) Whether the likely number of jobs that will be preserved or created by the project is significant;(2) Whether the level of unemployment and the need for economic development in the area in which the project is to be located will be improved;(3) Whether in the judgment of the board the project and the proposed credit enhancement is feasible;(4) Whether the applicant or business subject to a proposed credit enhancement is an equal opportunity employer;(5) Whether the project will improve and promote the orderly development of business activities, create or preserve employment opportunities, or protect the physical environment;(6) Whether the project will preserve or increase the social welfare or economic prosperity of the state and one or more of its political subdivisions, and will promote the general welfare of the state's citizens;(7) Whether the project and credit enhancement complies with all applicable statutory requirements;(8) Whether the proposed credit enhancement contains terms of conditions which reduce the risk of loss to the state as a result of the award of the credit enhancement; and(9) Whether, in the judgment of the board, the proposed credit enhancement is an appropriate use of the limited capacity available to provide credit enhancements under the authority's programs.N.H. Admin. Code § Bfa 304.04
(See Revision Note at chapter heading for Bfa 100) #5719, eff 10-13-93