OAR 123-027-0161: Non-Federal Project Application Review and Approval

To approve an application for assistance from the fund, the Authority must make the determinations as follows: (1) The project is an eligible project. If the Authority determines that the project is not eligible, it may reject an application or require further documentation from the Port; (2) The requisite need for the project has been demonstrated to the Authority in the application or the local planning process; (3) If application is for a loan, the loan security includes the pledge of revenues and/or other funds, and is sufficient, when considered with other security, to assure repayment; (4) The Port is willing and able to enter into a contract with the Authority; and (5) Moneys in the fund are or will be available for the project.