The system for ranking loan applications pursuant to Section 80485 shall establish priority scores for projects that are the subjects of the loan applications using scales that measure all of the following factors:
(a) The degree of community support expressed for the project, including, but not limited to, letters of support from local governmental entities, state or local elected officials, community leaders, and the general public.
(b) Financial support for the project provided at the local level, including grants or other subsidies, and funding provided by the issuance of bonds pursuant to the Mello-Roos Community Facilities Act of 1982 (Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the Government Code) or financing under the Community Redevelopment Law (Part 1 (commencing with Section 33000) of Division 24).
(c) The potential for the project to provide additional protection of the public health and safety.
(d) The potential for the project to enhance strategic community development, including, but not limited to, all of the following:
(1) The creation of new jobs.
(2) Generation of additional tax revenue.
(3) The likelihood that the project will stimulate additional redevelopment in adjacent areas.
(4) The degree to which implementation of the project will improve local property values.
(5) The degree to which implementation of the project will result in the development of new parks.
(6) The extent to which the project may have a beneficial effect on the construction of new schools.
(7) The extent to which the project will result in the construction of affordable inner-city housing.
(8) The potential for the project to have a beneficial impact on existing local and regional infrastructure or projected infrastructure needs, or otherwise promote infill development.
(e) The economic viability of the project, including, but not limited to, an analysis of the current value of the property as compared to its projected value after all necessary response actions have been completed.
(f) The ability of the loan applicant to successfully perform the response action at the site and repay the loan if funding is provided.
(g) The geographic location of the project, taking into consideration the number and amounts of loans approved for projects located in that area, as compared to those approved for other needy areas throughout the state.
(h) The degree of likelihood that the response action would not be completed if a loan pursuant to Article 6 (commencing with Section 80450) is not made, including whether any necessary response action is already being paid for by a responsible party pursuant to an administrative order, an agreement issued or entered into with a federal, state, or local agency, a judicial order, or a consent decree.
(i) The ability to obtain conventional financing absent a loan under this program.
(Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.)