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<br />3. Upon Community Development Department approval, the applicant will be <br />forwarded a revolving loan fund application. <br /> <br />4. Pre-application forms may be submitted on an open basis throughout the year. <br /> <br />E. Application process. All parties seeking revolving loan funds must file an application. <br />Application forms may be obtained from the Community Development Department. <br /> <br />1. Components of application. Only completed applications will be reviewed for <br />consideration by community development staff. A completed application is one that <br />satisfies the checklist provided below: <br /> <br />a. Business plan describing the scope ofthe project, including site plans, building <br />plans, renderings, or blueprints; <br />b. Project budget; <br />c. Private financing commitment; <br />d. Equity investment commitment; <br />e. Proposed security; <br />f. Company financial statements (3 years); <br />g. Personal fmancial statements (2 years); <br />h. Credit check release; <br />1. Mortgage or lease of property to be improved; <br />J. Proof of insurance of property to be improved; <br />k. Number of jobs to be created or retained; <br />I. Wage information; <br />m. Amount of loan request; and <br />n. Other documentation as requested. <br /> <br />2. Incomplete applications. Community development staff, in its sole discretion, will <br />determine if the application is complete and actionable. Incomplete applications will <br />be assigned pending status and the applicant will be informed in writing of the <br />missing documentation. <br /> <br />"3. Transmittal. Applications transmitted by oral, telegraphic, facsimile, or e-mail will <br />not be accepted. <br /> <br />4. Determination of eligibility. Applicant eligibility will be determined by community <br />development staff using criteria enumerated in subsection D (1) of this section. <br /> <br />5. Site inspection. As part of the eligibility determination process, the city will inspect <br />the property or building designated for improvements for compliance with the city <br />administrative ordinances and zoning codes. <br /> <br />6. Credit check. A credit check for the company and each of its principal owners shall <br /> <br />28 <br />