Sec. 26.10.12.07. Application Process

A. Procedures. The Department shall establish application and loan processing procedures that facilitate the application and financing process. These procedures may be amended from time to time and are binding upon all applicants.

B. Application Form and Deadline.

(1) In order for an applicant to be eligible for a loan, the applicant shall have submitted a final application or loan processing form to the Department on or before June 30, 1998.

(2) The application or loan processing form referred to in §B(1) of this regulation shall include:

(a) Type of business;

(b) Description of land control;

(c) Description of existing mortgages;

(d) Size of the loan requested;

(e) Cost and nature of the work; and

(f) Other relevant information the Department requests.

C. Initial Review. An application is subject to an initial review to make a preliminary determination of the eligibility of the applicant and the project in accordance with these regulations.

D. Ranking of Projects.

(1) Based on the applications and any other relevant information, the Department shall rank the projects by priority based upon the following criteria:

(a) The financial capacity and fiscal accountability of the applicant;

(b) The location of the underground storage tank and the degree to which removal of the tank would impose a geographical hardship on the surrounding community or industries dependent on availability of the petroleum;

(c) The extent to which the existence of the underground storage tank is required for an essential public service;

(d) Previous efforts expended to correct any existing environmental problem and to maintain compliance with State and federal regulations;

(e) Measures to assure accountability for all funds awarded under the Program;

(f) Anticipated time and cost to the Department to underwrite and close a loan for the project; and

(g) Any other criteria the Secretary considers appropriate.

(2) The ranking in §D(1) of this regulation may be adjusted by the Department from time to time as it receives additional information, including information submitted pursuant to Regulation .08A of this chapter.