(a) Applications for program assistance shall be made on or pursuant to standard application forms and in response to requests for proposals developed by the corporation. These forms and requests may require the submission of the following information, as may be appropriate to the nature of the project, applicant and the type of assistance requested:

1. (1) information about the applicant and companies involved, including history, ownership, size, primary products manufactured or services rendered, major customers, and major assets;
2. (2) information about the proposed project, including total cost, total assistance requested, proposed uses of funds, other proposed sources of funding, the number of jobs to be created or retained, and the current status of the proposed project;
3. (3) information about the applicant's and company's previous business activities;
4. (4) information with respect to the site of the proposed project and the impact, if any, on the environment and any landmark or historic properties;
5. (5) a business plan, resumes of principal officers, a list of owners, shareholders, or partners, a market analysis and marketing strategy;
6. (6) a description of the need for the requested funds, a specific justification of the request for assistance, a description of the expected impact of the assistance on the applicant, companies, and the community, and an indication of the reason for seeking State assistance;
7. (7) a complete set of financial statements for at least the three preceding fiscal years, and operating pro formas going forward three years;
8. (8) a list of proposed collateral, with appraisals;
9. (9) a budget breakdown of the sources and uses of funds associated with the proposed project;

10. (10) for proposed projects involving construction or the acquisition of real estate the following documentation:

    1. (i) a copy of the purchase option or contract of sale (if applicable);
    2. (ii) a legal description and survey of the property;
    3. (iii) a construction-to-occupancy schedule; and
    4. (iv) copies of the preliminary architectural drawings, scope of work, and schematics;
11. (11) for proposed training projects, a breakdown of any on-the-job training funds to be paid to trainees; and
12. (12) such other information as may be relevant to the eligibility requirements and funding preferences set forth in this Part or otherwise reasonably requested by the corporation.

(b) The corporation shall accept and approve applications for program assistance on at least a four-month cycle basis, pursuant to a schedule developed by the corporation. Applications may be submitted directly to the corporation or to the regional office of the State Department of Economic Development for the region in which the project is located.

1. (1) Applications submitted to the regional office of the State Department of Economic Development shall be forwarded by such regional office to the regional council for the region in which the project is located. The regional council shall:

   1. (i) review each application, in accordance with the eligibility requirements and evaluation criteria established under this Part;
   2. (ii) certify applications for consistency with the regional strategic plan;
   3. (iii) rank each application in priority order; and
   4. (iv) forward the applications, with their certification and rank, to the corporation. The corporation shall not consider or approve for funding any application submitted through the regional office of the State Department of Economic Development that has not been certified by the regional council as consistent with the regional strategic plan and ranked.
2. (2) Applications submitted directly to the corporation will be given a preliminary review for eligibility in accordance with the requirements and evaluation criteria established under this Part. In addition, the corporation shall certify applications for consistency with the regional strategic plan. The corporation shall not consider or approve for funding any application that the corporation has not certified as consistent with the regional strategic plan. The corporation shall provide the applicable regional council with a copy of each application from that region that was submitted directly to the corporation and the regional council shall have 20 days from receipt of such application to make a written funding recommendation to the corporation. The corporation may act on any such application after the expiration of such 20-day period.

(d) Applications shall be evaluated by the corporation in accordance with the following:

1. (1) In addition to any other preferences stated in this Part, the corporation shall give priority consideration to projects located in a distressed area.

2. (2) In addition, the corporation shall consider the following factors in evaluating applications:

   1. (i) the number of jobs created or retained, with preference for projects that create jobs for persons eligible for benefits under the provisions of the Federal Job Training Partnership Act;
   2. (ii) the impact of the project on the employment and economic condition of the community in which it is located;
   3. (iii) the cost per job created or retained based upon the total project cost;
   4. (iv) the participation of minority- or women-owned business enterprises in the project;
   5. (v) the level of local public support for the project;
   6. (vi) the amount of private investment leveraged;
   7. (vii) the likelihood of accomplishing the project in a timely fashion; and
   8. (viii) the priority accorded the proposed project by the regional council.