§ 33-7. Application requirements.

A. 

Any qualifying entity meeting the definition set forth in the definition of "qualifying entity" in § 33-4 may propose an economic development project to the City. Meeting the definition of a "qualifying entity" does not create any obligation on the part of the City of Las Vegas.

B. 

Applications from qualifying entities shall be submitted to the City of Las Vegas on forms approved by the City.

C. 

Applications shall contain the following information for business applicants:

(1) 

Identification information:

(a) 

Complete name and address of entity;

(b) 

Incorporation papers with bylaws;

(c) 

List of board of directors and executive director, with addresses; and

(d) 

Resumes of all directors and officers.

(2) 

Evidence of financial solvency (personal statement of principals):

(a) 

Financial statement (income statement and balance sheets) for the past three years;

(b) 

Federal tax number, New Mexico State taxation and revenue number and county business license;

(c) 

Projected income statement for at least three years.

(3) 

Evidence of organizational capacity:

(a) 

Brief history of the entity;

(b) 

Organizational chart of the entity;

(c) 

Business plans for the entity and proposed project (shall include three-year pro-forma cash flow analysis);

(d) 

Evidence of ability to manage the project, such as, but not limited to:

[1] 

List and description of previously completed projects;

[2] 

Resumes of key staff involved with project.

(e) 

Entity shall disclose the following information (if the answers is yes the entity shall attach a written explanation):

[1] 

Has the business or any of its officers ever been involved in a bankruptcy?

[2] 

Has the business or any of its officers ever defaulted obligations on which payments are not current?

[3] 

Does the entity have any loans or other financial obligations on which payments are not current?

(4) 

The project participation agreement and any other pertinent information will be forwarded to the governing body for final consideration at a public meeting.

(5) 

Funding source for project:

(a) 

Equity investment of qualifying entity;

(b) 

Assistance being request of the City (e.g., specific parcel of land, applicable fees, etc.), with estimate of value; and

(c) 

Funding sources other than the City with letters of commitment of intend to fund.

(6) 

Identification of the terms, conditions, location, scope and requirements to the economic development project.

(7) 

Information sufficient for the LVSMEDC to make its determination whether the applicant is a qualifying entity.

(8) 

Any other information required of the applicant by the LVSMEDC or governing body.