Oregon Statutes - Chapter 285A - Economic Development I - Section 285A.678 - Qualifications for approval of project funding.

The Oregon Economic and Community Development Commission may approve a project proposed in an application filed as provided in ORS 285A.669, if, after investigation, the commission finds that:

(1) The proposed project is feasible and a reasonable risk from practical and economic standpoints, and the loan has reasonable prospect of repayment.

(2) Moneys in the Oregon Port Revolving Fund are or will be available for the proposed project.

(3) There is a need for the proposed project, and the applicant’s financial resources are adequate to provide the working capital needed to ensure success of the project.

(4) The applicant has received all necessary permits required by federal, state or local agencies.

(5) The applicant will not owe more than $3 million to the Oregon Port Revolving Fund if the loan is approved.

(6) The standards under ORS 285A.055 have been met. [Formerly 285.883; 2001 c.883 §12; 2003 c.773 §12]

Section:  Previous  285A.657  285A.660  285A.663  285A.666  285A.669  285A.672  285A.675  285A.678  285A.681  285A.684  285A.687  285A.690  285A.693  285A.696  285A.699  Next

Last modified: August 7, 2008