Oregon Business Development Department
Chapter 123
Division 165
RECOVERY ZONE BONDS
123-165-0040
Criteria for Reallocation Award of Recovery Zone Economic Development Bonds Cap
In accordance with the intent of the code and state priorities, the following criteria will be used to prioritize reallocation requests by the department:
(1) The relative level of economic distress in the local community.
(2) The number of citizens benefiting from the project.
(3) The estimated positive economic, health, or environmental impact of the project on the local community, region, and state.
(4) The number of jobs created or retained by the project as can be best estimated.
(5) Whether the availability of the reallocation is a crucial part of attracting a new company or keeping an existing company in place;
(6) Whether the requested reallocation will benefit a project for which a recipient or other unit of local government is issuing recovery zone bonds;
(7) Whether the requested reallocation will benefit a project that was designated by a recipient in connection with a previous waiver of its allocation.
(8) The readiness of the project to proceed including consideration for the likelihood that the issuer will use the allocation within the timelines.
(9) The amount of other public and private funding leveraged by the recovery zone economic development bond allocation.
(10) The amount of local community support for the project, other agency support, and the degree the project supports efficient use of resources.
Statutory/Other Authority: ORS 286A.630 & 285A.075
Statutes/Other Implemented: ORS 286A.6304 & 285A.075
History:
OBDD 16-2010, f. 4-30-10, cert. ef. 5-1-10
OBDD 3-2010(Temp), f. & cert. ef. 1-14-10 thru 7-13-10