§ 185. Revitalization programs. In addition to the criteria described
in section one hundred eighty-four of this article and such other
criteria as the board may by rule or regulation define, an economic
development power allocation may be made to a business in serious,
long-term distress that is not primarily caused by normal, short-term
changes in the business cycle, when the applicant demonstrates to the
satisfaction of the board:

(a) that the applicant has formulated and will implement a
comprehensive business revitalization plan which is described in its
application, and which:

(1) contains a detailed strategy for actions to be taken by the
applicant to continue as a successful business, including, but not
limited to, productivity and efficiency improvements, changes in
operations, financing or management, measures to enhance labor and
management cooperation and to improve the skills and performance of the
work force at all levels, capital investment in new equipment and plant
modernization, development of new markets and products, and such other
actions as will enable the business to stabilize and sustain its
operations;

(2) has been endorsed by the board of directors; and

(3) establishes a verifiable schedule for completion of proposed
actions;

(b) that an allocation of economic development power will
significantly contribute to the revitalization plan;

(c) that the business is likely to close, partially close or relocate
out of state resulting in the loss of substantial numbers of jobs;

(d) that the business is an important employer in the community and
efforts to revitalize the business are in the long-term interests of
both employees and the community;

(e) that a reasonable prospect exists that the proposed revitalization
plan will enable the business to remain competitive and become
profitable and preserve jobs for a substantial period of time;

(f) that the applicant demonstrates cooperation with the local
electricity distributor and other available sources of assistance to
reduce energy costs to the maximum extent practicable, through
conservation and load management; and

(g) that the allocation will not unduly affect the cost of electric
service to customers of the local electricity distributor.