Sec. 05.05.05.04. Eligible Borrowers — Local Governments and Local Government Entities

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A. A local government or local government entity shall meet the requirements in §§B-F of this regulation to qualify for capital assistance.

B. The local government shall provide a local contribution that meets the requirements of Regulation .17 of this chapter.

C. The local government or local government entity shall assure that any off-site improvements necessary for a project are provided without capital assistance from the Program.

D. The local government or local government entity shall develop a project or contract with a qualified for-profit or nonprofit developer to develop the project.

E. The local government or local government entity shall own the project.

F. A local government entity shall also meet the requirements of Regulation .05A(1)-(4) of this chapter.

                    
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