<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".08" citation="COMAR 11.07.09.08" title_num="11" subtitle_num="07" chapter_num="09" heading="Evaluation of Proposed Projects and Selection Process.">
  <paragraph num="A.">
    <text>A proposal for a vehicle parking facility project is subject to an initial review by the Authority to determine the eligibility of a project in accordance with this chapter and the Act.</text>
  </paragraph>
  <paragraph num="B.">
    <text>If a proposal is eligible under this chapter and the Act, the Authority shall review the proposal and determine whether the Authority will finance the vehicle parking facility project.</text>
  </paragraph>
  <paragraph num="C.">
    <text>In making a determination as to whether to finance a vehicle parking facility project, the Authority shall base the financing decision on the following criteria:</text>
    <paragraph num="(1)">
      <text>The financing plan is allowable under any trust agreement between the Authority and a corporate trustee or the Act, or both, and provides for access to the necessary capital to finance the vehicle parking facility;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Market demand and the amount of project debt can be supported by the projected revenue stream;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Consistency with local and State planning, transportation, and Smart Growth plans;</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Integrity of engineering architectural and design specifications and accuracy of construction, operational, and maintenance costs; and</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Any other factor that the Authority considers relevant.</text>
    </paragraph>
  </paragraph>
  <paragraph num="D.">
    <text>Authority approval of the financing of the vehicle parking facility shall by evidenced by a signed resolution of the Authority, and represents the final approval for the vehicle parking facility project.</text>
  </paragraph>
</regulation>