Application Requirements

Every application to the Department for approval of a project as defined inM.G.L. c. 121A, §1 shall be submitted in triplicate. It shall contain the following: (1) Description of Applicant(s). The Application shall state the name, residential address, and occupation of each individual applicant and the structure of the M.G.L. c. 121A entity (a joint venture, a partnership, a limited partnership, a trust or a corporation) including the names and addresses of management and those which will have any beneficial interest in the M.G.L. c. 121A entity. Associations shall include the agreementto associate, if required; and corporations shall include articles of organization. Except in the case of an insurance company, savings bank, or cooperative bank, each applicant shall submit bank and financial references. The application shall designate an individual with his or her title and address as an authorized person with whom the Department may communicate. (2) Location and Owners of Project Area. The applicant shall specify the location of the project area. The application shall include a metes and bounds description ofthe projectarea and the names of the present owner or owners. (3) Description of the Project. The application shall describe the proposed project, including the buildings, structures and facilities to be constructed or rehabilitated and the use or uses to which they will be put. In connection with the description of the project, applicants shall submit one copy of the following: (a) A site plan prepared by an engineer or surveyor showing the project area and the approximate location of structures and facilities to be constructed as a part of the project. (b) Drawings showing the buildings and other improvements to be constructed in a form adequate to show the nature and extent of the project, including typical elevations and floor plans. (c) Construction specifications showing generally the character and quality of the construction to be employed. (d) Such further material, ifany, as may be necessary to describe the pertinent characteristics of the project. (4) Relationship of Project to City or Town Master Plan. The application shall set out the relationship of the project with the city or town’s master plan (if any) and explain why any conflicts with the master plan are warranted. 25.02: continued (5) Explanation Why the Project Area Is Blighted, Decadent, or Sub-Standard. The application shall state in detail the reasons why the project area is a blighted open area, a decadent area, or a substandard area as defined in M.G.L. c. 121A, § 1 and specify whether the project area is part or an urban renewal project or an urban revitalization and development project. If located in an urban renewal area for which a finding of blight, decadence or substandard conditions has previously been made, reference shall be made to such finding. In detailing the reasons why the project area is a blighted open, substandard or decadent area, recitation of extensive technical matter is not required, but more than a conclusory restatement of the statutory definition is necessary. (6) Amenities Which Warrant Additional Tax Exemption. (a) Application. If extension of the period of tax exemption is sought as part of the original application or subsequently, the application shall describe the amenities which the project contains and uponwhichapplicant relies for requesting extension of the period of tax exemption. (b) Subsidized Housing. If applicant seeks an additional period of tax exemption on the basis that the project or a portion thereof is state or federally subsidized housing, the applicant shall specify the subsidy program to be utilized, the number of subsidized units, the duration of the period of any subsidy, and copies of all commitments or contracts from a subsidizing agency, or, if no commitment or contract has been made, copies of any applications made for subsidy. (c) Housing for Low and Moderate Income Persons. If applicant seeks an additional period of tax exemption onthe basis that the project or portion thereof will be housing for persons of low and moderate income, the applicant shall provide a description of any financing or insurance program and any financing or insurance commitments issued at the time of the application, or, if no such financing or insurance commitment exists at such time, any application submitted to obtain such financing or insurance. (d) Description of Other Amenities. If the applicant claims an additional period of tax exemption on the basis of other amenities, the applicant shall so state and shall provide detailed information sufficient for the Department, the local chief executive and the planning board to evaluate each proposed amenity, according to the standards set out in 760 CMR 25.05. If the applicant claims anexemptionfromthe excise imposed by M.G.L. c. 63 §32, the applicant shall also provide with such supporting documentation as the Department may require. (7) Development Schedule. The application shall include the schedule for the phases of development of the project after the approval by the Department. Such schedule shall provide for foreseeable contingencies which could delay development. (8) Cost of Project. The application shall set out the estimated cost of the project broken down by category. A detailed statement of the source and use of funds, income and expense projections, and an operating pro forma shall be included. (9) Method of Financing. The application shall, except inthe case ofan application by an insurance company, savings bank, or cooperative bank, specify: (a) The amount proposed to be raised by mortgage or debt financing and the cost of such financing; (b) All amounts to be contributed by equity capital and the source of such capital; (c) All other amounts to be raised, the manner, and the source; (d) Any stock, securities or other financial interest to be issued, created or transferred in payment for services, together with a description of the services and their value; (e) A list of all persons and entities who have or will have any financial interest in the project, and the nature and amount of that interest. (f) The method by which any stock in the M.G.L. c. 121A entity shall be offered to owners of real estate in the project area pursuant to M.G.L. c. 121A, § 7. 25.02: continued (10) Estimated Fiscal Impact on The City or Town. The application shall estimate in reasonable detail the fiscal impact of the proposed project on the city or town, includingsuchinformation as the expected cost of services for the project, increased employment resulting from the project, gains or losses in tax receipts, and anyadditionalpayments, to be made to the city or town, under any agreement withthe M.G.L. c. 121A entity. (11) Copy of the Proposed Contract with the Municipality. The application shall include the proposed form of contract required by M.G.L. c. 121A, § 6A between the M.G.L. c. 121A entity and the municipality. A copy of the final executed contractshall be provided to the Department by the M.G.L. c. 121A entity within five days following its execution by the municipality and the M.G.L. c. 121A entity. (12) Relocation Plan. The application shall include a relocation plan meeting any applicable requirements of M.G.L. c. 79A and regulations of the Department. (13) Environmental Assessment. The application shall include an Environmental assessment form, and, if required, an environmental impact report meeting the requirements of M.G.L. c. 30, §§ 61 and 62. (14) Agreements for Public Improvements. The application shall state whether or not the proposed project includes or anticipates an agreement with the city or town with respect to the matters covered in M.G.L. c. 121A, §14, and, if so, shall specify the agreement as to such matters. (15) Local RegulatoryCompliance. The applicationshallstate whether or not the proposed project would be in compliance with all applicable zoning, health and building bylaws or ordinances and any other applicable laws, bylaws, ordinances, rules and regulations. Any non-compliance shall be specified, and the applicant shall explain how the non-compliance will be cured. (16) Condominiums. If an Application includes condominiums, additional documentation specified in M.G.L. c. 121A, §18D shall be included. (17) Regulatory Agreement. The application shall include a signed but undated draft of the regulatory agreement. (18) Statement of Non-Disposal of M.G.L. c. 121A Interests. Except in the case ofanapplication in which an insurance company, savings bank, or cooperative bank is an applicant, a legally binding instrument forbidding any change in the M.G.L. c. 121Aentityor inits ownership prior to completion of the project without the prior approval of the Department. (19) Supplementation of Application. Every application submitted to the Department shall be supplemented from time to time prior to its approval in order to keep the information contained therein current and accurate.