Preliminary Approval of Secretary

(1) If, based on the Preliminary Economic Development Proposal, the Preliminary Certificate of the Commissioner and the Preliminary Certificate of the Agency, the Secretary determines that the Preliminary Economic Development Proposal is eligible for approval and that it is reasonably likely that the contemplated Economic Development Proposal will satisfy the criteria for approval identified in 801 CMR 51.03, the Secretary may issue a Preliminary Approval Letter. (2) Any Preliminary Approval Letter shall state all conditions that must be satisfied prior to final approval of the contemplated Economic Development Proposal. If the Developer is seeking approval of the Economic Development Project as a Phased Project, the Preliminary Letter of Approval shall also state all conditions that must be satisfied prior to final approval of each phase of the Economic Development Project. (3) Any Preliminary Approval Letter shall incorporate by reference the related Independent Consultant Analysis, the Preliminary Certificate of the Commissioner confirming the estimated state tax revenues, New Revenues and New State Tax Revenues to be realized from the Economic Development Project and the Preliminary Certificate of the Agency confirming the estimated Project Costs for the Public Infrastructure Improvements that may be supported by New State Tax Revenues in accordance with 801 CMR 51.00. (4) The Preliminary Approval Letter shall state the portion of the Project Costs for the Public Infrastructure Improvements eligible for final approval based on the Preliminary Certificate of the Agency.