| (a) The Office may not designate a nominated qualified
business as a readjustment project unless it determines that:
(1) the business meets the requirements set forth in
the Act, §2310.301, and this chapter;
(2) the qualified business is located in or has made
substantial commitment to locate in a readjustment zone;
(3) the project demonstrates viability as determined
by the Office;
(4) the applicant's governing body or bodies have demonstrated
that a high level of cooperation between public, private, and neighborhood
entities exists in the zone; and
(5) the designation of the qualified business as a
readjustment project will contribute significantly to the achievement
of the plans of the applicant for development and revitalization of
the zone.
(b) The Office will use the scoring mechanism set forth
in the Act, §2310.306, making readjustment project designation
decisions.
(c) The Office may approve the assumption of a readjustment
project that leases or transfers ownership to another entity that
will continue operations in the readjustment zone in the same way
that was originally committed to in the initial readjustment project
application or which otherwise demonstrates to the satisfaction of
the Office that the designation assumption is warranted to avoid disruption
of operations and loss of jobs.
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