(a) Basic application. A local government, in conjunction
with a financial institution, may submit an application to the commission
for the designation of a proposed banking development district, as
provided by §6.4 of this title (relating to Submission and Processing
of Application). The application must include the following information
to the extent available:
(1) identification of the local government applicant
and evidence of the approval of the application by its governing body;
(2) identification of the participating financial institution
by type and name, and identification of its primary state and/or federal
regulator;
(3) a description of the geographic area comprising
the proposed district, including a map that identifies the borders
of the proposed district;
(4) a compilation and explanation of the population
demographics included within the proposed district, including the
number of residents and the percentage of the population that can
be described as comprised of, for example, elderly (age 64 and over),
disabled, non-English speaking, and identifiable racial, ethnic or
other minorities;
(5) a compilation and explanation of economic indicators
pertinent to the proposed district, to the extent available, including
per capita annual income, median household annual income, unemployment
data, percentage of the population at or below the poverty level,
and percentage of the population receiving public assistance within
the proposed district;
(6) a description of the type and nature of commercial
businesses located in the proposed district, including the number
and percentage of which constitute small business, as that term is
defined by Government Code §2006.001(2);
(7) a compilation and summary of significant business
developments within the past three years, including corporate restructurings,
plant closings, other business closings, and recent or proposed business
openings or expansions;
(8) the location, number, and proximity of sites where
banking services are available in or near the proposed district, including
branches of financial institutions and credit unions, and deposit-taking
ATMs other than those located at branches;
(9) a compilation and description of alternate providers
in the proposed district;
(10) a description of the anticipated impact that additional
banking services would have on potential economic development within
the proposed district.
(b) Optional information. An application for designation
of a banking development district may also include:
(1) a description of other local government and community
initiatives proposed to be undertaken and coordinated with establishment
of the proposed district;
(2) indications of community support or opposition
for the application, as evidenced by letters from entities such as
local chambers of commerce, local businesses, community-based organizations,
non-profit organizations, government officials, or community residents;
and
(3) such other information that the applicant believes
will demonstrate that the proposed district meets the standards set
forth in §6.5 of this title (relating to Criteria for Approval).
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