Md. Code Regs. 11.07.09.08 - Evaluation of Proposed Projects and Selection Process
A. 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.
B. 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.
C. 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:
(1) 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;
(2) Market demand
and the amount of project debt can be supported by the projected revenue
stream;
(3) Consistency with local
and State planning, transportation, and Smart Growth plans;
(4) Integrity of engineering architectural
and design specifications and accuracy of construction, operational, and
maintenance costs; and
(5) Any
other factor that the Authority considers relevant.
D. 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.
Notes
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