§ 1836-c. Applications for loans. 1. Any employee ownership
association may apply to a local development corporation serving the
municipality in which the eligible project is located for an employee
ownership assistance loan to be used to help finance an eligible
project. Such application must include a written statement from the
entity from which the project is being acquired, stating that such
entity consents to the acquisition. The application shall include in
detail:

(a) the history and membership of the association;

(b) the history and circumstances of the plant to be acquired;

(c) financial and marketing projections and analyses sufficient to
allow the authority to evaluate the continued economic viability of the
project;

(d) estimate of the number of jobs to be saved or created by the
project; and

(e) total anticipated project cost.

2. The application shall also include a detailed financial statement
of funding partner participation in the project, which shall include:

(a) the identity of all funding partners; and

(b) the terms of the financing agreements with the funding partners,
including any repayment schedules and finance charges to be included in
such agreements.