70:05:03:06.  Factors for board action. When making a decision on an application, the board shall consider the following:

    (1)  Number of primary jobs created;

    (2)  Amount of the loan requested;

    (3)  Net economic effect on the area and state;

    (4)  Transportation needs of the area served by the project;

    (5)  Support of the public entities of the community and area;

    (6)  The amount of the financial contribution by the applicant or others to the project;

    (7)  The effect of the project on the environment, health, and safety of the people in the area and state;

    (8)  Compatibility with the economic development plans of the area and state;

    (9)  The potential success of the project;

    (10)  The character, experience, management record, and financial capacity of the rail operator and any other benefitted entity;

    (11)  The capacity of the applicant to repay the loan. In determining the capacity of the applicant, the board may consider the following:

        (a)  The amount of the loan;

        (b)  The economic feasibility of the project;

        (c)  The ability of the applicant to service the debt;

        (d)  The financial status of the project, applicant, and rail operator; and

        (e)  The satisfaction of engineering, legal, and environmental regulations;

    (12)  The total capitalization of the project, including any capitalization subordinated to the trust fund loan; and

    (13)  The terms and conditions of the loan.

    Source: 19 SDR 107, effective January 24, 1993; 49 SDR 47, effective November 21, 2022.

    General Authority: SDCL 49-16C-3.

    Law Implemented: SDCL 49-16C-3.