LD 1554
pg. 2
Page 1 of 3 An Act Regarding Eligibility under the Municipal Investment Trust Fund Page 3 of 3
Download Bill Text
LR 2077
Item 1

 
available to meet these costs and recommendations
for meeting costs required to implement the plan.

 
(2) A municipality is eligible to receive a loan if
that municipality:

 
(a) Has adopted a comprehensive plan that is
determined by the Executive Department, State
Planning Office to be consistent with section
4326, subsections 1 to 4.

 
(3) A municipality is eligible to receive a grant or a
loan if that municipality is a service center
community.

 
Subject to the limitations of this subsection, 2 or more
municipalities that each meet the requirements of
subparagraph (1) or, (2) or (3) may jointly apply for
assistance under this section; and

 
E. In the case of a downtown improvement grant or loan, the
Department of Economic and Community Development affirms
that the applicant has met the conditions of this paragraph.
A municipality is eligible to receive a downtown improvement
grant or loan if that municipality has:

 
(1) Shown broad-based support for downtown
revitalization;

 
(2) Established a comprehensive downtown revitalization
work plan, including a definition and a map of the
affected area;

 
(3) Developed measurable goals and objectives;

 
(4) Demonstrated an historic preservation ethic;

 
(5) Established an ongoing board of directors, with
associated committees;

 
(6) Provided an adequate operating budget;

 
(7) Hired a professional downtown manager;

 
(8) Established an ongoing training program for staff
and volunteers;

 
(9) Developed the capacity to report on the progress of
the downtown program; and


Page 1 of 3 Top of Page Page 3 of 3