7.2 HRSR 06-01-2015 - Laserfiche WebLink

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APPLICATION REVIEW WORKSHEET TO BE COMPLETED BY CITY STAFF In the event of multiple applicants, and limited funds dedicated to the program, the attached worksheet will be used to determine how the funds will be allocated. The project meets the criteria set forth in Section IV of the Blighted Properties Forgivable Loan Policy. Check those which apply. Must meet first four to score 20 point points if any of the first four boxes are unchecked. Creation of new jobs shall be the greater of $15.00 per hour or 150% of state or federal minimum wage, whichever is greater, exclusive of benefits required by law. Increases tax base. The project can demonstrate that investment of public dollars induces private funds. The project provides higher wage levels to the community or will add value to current workforce skills. The project results in the sale and/or redevelopment of structur properties as determined by a licensed structural engineer. (additional 100 points given) Subtotal Section 1 (maximum 120 points) 2. Consideration of Capacity. Check those which apply. Must meet all four to score 20 points. points if any boxes are unchecked. Applicant included a realistic implementation /project schedule. Applicant has the ability to administer and monitor project. Applicant has the ability to conform to city, state and federal Applicant has agreed to annual progress reports and submission of salary surveys for all new hires. Subtotal Section 2 (maximum 20 points) Points 3. Impact : Number of new jobs as a result of the project: *Award five points per job created up to 150 points Ratio of loan funds to jobs created/retained $15,000 or less/job 80 points $15,001-$24,999/job 60 points $25,000-$34,999/job 40 points $35,000 and over/job 20 points Blighted Properties Forgivable Loan Fund Application Page 15of 15 DRAFT