§ 237. Issuing of loans for industrial park planning and development projects
Before issuing any loan under this subchapter for industrial park planning and development,
and the purchase of land in connection therewith, the Authority shall determine and
incorporate in its minutes the findings that:
(1) The proposed industrial park is on adequate land owned or to be owned by the local
development corporation or leased by the local development corporation on terms satisfactory
to the Authority.
(2) An adequate access road from a public highway is provided to the proposed site, and
utilities, including water, sewer, and power facilities, are available or will be
available for any future tenant located in the park.
(3) The total industrial park will be planned by architects and engineers acceptable to
the Authority.
(4) No more than 80 percent of the fair market value of the industrial park, as shown
by appraisal by an appraiser acceptable to the Authority, is to be financed under
the loan.
(5) The park project is within the scope of this chapter, will be of public use and benefit,
and may reasonably be expected to create new employment opportunities.
(6) The park project complies with all applicable environmental, zoning, planning and
sanitary laws and regulations of the municipality in which it is to be located and
of the State of Vermont.
(7) The local development corporation is responsible and has presented evidence to demonstrate
its ability to carry out the park project as planned.
(8) Evidence has been presented demonstrating the feasibility of the site as a location
for industry, and additional evidence has been presented that an adequate supply of
labor is available within the labor market area to serve an industry located on the
site.
(9) The park project will be without unreasonable risk of loss to the Authority, and the
local development corporation is unable to secure on reasonable terms the funds required
for the project without the assistance of the Authority. Such findings when adopted
by the Authority shall be conclusive. (Added 1973, No. 197 (Adj. Sess.), § 1.)