A preliminary application must include the following information:
the names, qualifications, and addresses of the applicant and other project participants;
a summary of the project;
anticipated project outcomes;
anticipated project costs; and
The commissioner shall evaluate each preliminary application to determine whether the project is eligible for funding. The commissioner shall further evaluate those preliminary applications that are eligible using the following criteria:
the likelihood that the project will achieve the expected project outcomes identified in the preliminary application; and
for direct loans, the likelihood that no sufficient source of financing other than a direct loan by the agency can be obtained to conduct the project.
The commissioner shall invite applicants whose preliminary applications best meet the criteria in subpart 2 to submit final applications. Only invited applicants remain eligible for grants or loans. For direct loans, applicants that are not invited to submit final applications for direct loans because they do not meet the criteria in subpart 2, item D, but that best meet the other criteria in subpart 2, shall be invited to submit final applications for participation loans in lieu of direct loans.
MS s 115A.0716
22 SR 23; L 2005 1Sp1 art 2 s 161
October 10, 2013
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