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<br />CWCB, Members <br />September 3, 1980 <br />Page three <br /> <br />(c) applications for projects requiring very substantial sums for <br />feasibility studies. Given the present practice of taking applica- <br />tions on strictly a first come first served basis, and given the <br />very narrow set of,criteria heretofore employed in reviewing appli- <br />cations, all of these applications would presently by approved and <br />a feasibility study automatically initiated. The staff, however, <br />questions the advisability of spending money on feasibility studies <br />for projects which the Board may not care to embrace. This then <br />implies the need to develop criteria for screening out projects before <br />a feasibility study is initiated. <br /> <br />In establishing future Board policy, several factors should be considered: <br /> <br />(a) Should the staff continue historic practice of simply accepting <br />applications on a first come first served basis? <br /> <br />(b) Should the financial capability of a project sponsor to obtain adequate <br />financing from other sources be sufficient grounds for rejecting an <br />application? <br /> <br />(c) Should applications for proposed projects benefiting only individual <br />families be automatically rejected? <br /> <br />(d) Shou~d the tota~ estimated cost of a project (e.g., projects exceeding <br />say $10,000,000) be rejected? <br /> <br />(e) Should available construction funds be pro-rated to different kinds of <br />projects with applications for those kinds of projects for which allo- <br />cated funds are used up being automatically rejected? <br /> <br />RECOMMENDATIONS <br /> <br />The staff recollllllends the following procedure and criteria Jor accepting or <br />rejecting applications: <br /> <br />(a) If adequate funds are available, the staff will continue to accept appli- <br />cations on a first come first served basis. Applications that have <br />unique characteristics will be referred to the Board for their considera- <br />tion and approval or rejection, including applications for which it is <br />determined that a project sponsor can obtain adequate financing from <br />other sources. <br /> <br />(b) Applications for projects benefiting only individual families will be <br />rejected by the staff. <br /> <br />(c) We have, and probably will continue to receive applications for proposed <br />projects whose costs would greatly exceed our present funding capabilities. <br />Should substantial increases in our funds be forthcoming, such projects <br />