Current through Register Vol. XLI, No. 50, December 13, 2024
Section 145-6-5 - Review Guidelines5.1. Determination of Eligible Projects. When evaluating any request for funding assistance to plan, acquire, construct, improve or otherwise develop an infrastructure project with assistance from the Infrastructure Fund, the Council may consider, where relevant, the following: 5.1.1. The actual number of full time or full time equivalent jobs to be created, the time frame for job creation and the economic impact of jobs created based on wage rates and benefit packages;5.1.2. To the extent that the proposed infrastructure project would compete with or eliminate existing jobs, the net effect on actual full time equivalent employment of the proposed infrastructure project.5.1.3. The number of temporary or seasonal jobs provided with respect to the construction aspect of the proposed infrastructure project and the economic impact of such temporary or seasonal jobs based on wage rates and benefit packages.5.1.4. The proposed schedule for the expenditure of funds to develop the infrastructure project and the ability of the infrastructure project sponsor to meet the proposed time schedule.5.1.5. Projected impact on the state's tax base including projections for business and occupation taxes, corporate net income taxes, personal income taxes, consumer sales and service taxes, and real property taxes.5.1.6. If appropriate, the ability of the sponsor of the infrastructure project to comply with the state worker's compensation, employment security and other state regulatory requirements.5.1.7. Degree that private and other public moneys are available and the extent to which they can be leveraged with infrastructure Fund dollars;5.1.8. The cost effectiveness of the infrastructure project as compared with alternatives which achieve substantially the same economic development benefits;5.1.9. The availability of alternative sources of funding which could finance all or a part of the infrastructure project, and the need for assistance from the Infrastructure Fund to finance the infrastructure project or attract other sources of funding;5.1.10. The project sponsor's ability to operate and maintain the infrastructure project;5.1.11. The degree to which the infrastructure project achieves State or regional planning goals;5.1.12. The estimated date upon which the infrastructure project could commence if funding were available and the estimated completion date of the infrastructure project; and5.1.13. Such other considerations as the Council may consider necessary or appropriate to promote job creation and economic growth.