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FY 15 <br /> <br /> <br />AWARDING LOANS: <br /> DEED will award loans to projects that provide the highest return in public <br />benefits for the public costs incurred and meet all of the statutory requirements. In order to evaluate the <br />applications for public benefits with respect to the costs incurred, the law specifies priorities that DEED <br />must consider. <br /> <br />To fulfill this requirement of reviewing applications in an objective and fair manner, the following <br />criteria have been assigned maximum point values in order to systematically award loans. All assigned <br /> <br />scores will be relative to scores awarded to other applications. <br /> <br />1. The extent to which the existing property conditions threaten public safety. Maximum = 15 points <br /> <br />2. The length of vacancy of the property. Maximum = 5 points. <br /> <br />3. The development potential of the property. Maximum = 10 points <br /> <br />4. The proximity of the property to existing sufficient public infrastructure. Maximum = 5 points. <br /> <br />5. The applicant’s financial condition and ability to repay the loan. Maximum = 15 points <br /> <br /> <br />6. Other public benefits, including but not limited to, health, safety, environmental benefits, blight <br /> reduction, community stabilization, crime reduction and reduction of maintenance costs. <br />Maximum = 5 points <br /> <br /> Page iv <br />Redevelopment <br /> <br />