                                 CODE OF VIRGINIA

ELIGIBILITY AND PROJECT SELECTION (§ 33.2-1503)

A. Any entity constituting an eligible borrower or other project sponsor is
eligible to apply to the Board for project financing from the Bank.

B. All applicants for a loan or other financial assistance must file an
application with the Board, which must include all items determined by the Board
in consultation with the manager to be necessary and appropriate for the Board
to determine whether or not to approve the loan, including the availability of
reliable repayment sources to retire the project obligation as well as
creditworthiness.

C. Each applicant for a loan or other financial assistance must demonstrate that
the project is of local, regional, or statewide significance and meets the
public interest identified in subsection A of &#xA7; 33.2-214.1. Another
criterion to be considered is whether or not the loan or other financial
assistance will enable the project to be completed at an earlier date than would
otherwise be feasible. The Board shall issue guidelines for scoring projects in
accordance with subsection B of &#xA7; 33.2-214.1 and any other criteria deemed
necessary and appropriate for evaluating projects as determined by the Board in
consultation with the manager and shall apply the scoring guidelines to each
proposed project. Further, the Board shall promptly publish each proposed
project and its score using the scoring guidelines.

D. All projects for which a loan or other financial assistance is provided must
meet and remain in compliance with the policies and guidelines established by
the Board and the manager.

HISTORY: 2011, cc. 830, 868, § 33.1-23.9; 2014, c. 805; 2015, c. 684.