rehabilitate vacant industrial facility for multi- tenant use or as an incubator; (3) establish revolving loan funds, and/or recapitalization of revolving loan funds. CRITERIA FOR SELECTING PROPOSALS: All proposals and applications for funding submitted to EDA are evaluated competitively for: 1) Conformance to statutory and regulatory requirements; 2) relative severity of the economic problem of the area; 3) quality of the scope of work proposed to address the problem; 4) merits of the activity(ies) for which funding is requested; and 5) the ability of the prospective applicant to carry out the proposed activity(ies). Additional criteria in the project selection process will be reviewed, as applicable, for: Strategy Grants: 1) Proper authority, mandate, and capacity of the applicant to lead and manage the planning process and strategy implementation; 2) representation of the public and private sectors in the development of the strategy's objectives, which may include: public program and service providers, trade and business associations, educational and research institutions, community development corporations, minorities, labor, low-income, etc; and 3) the proposed scope of work for the strategy focuses on the structural economic problem(s) and includes provisions for undertaking appropriate research and analysis to support a realistic, market-based, adjustment strategy. Implementation Grants: 1) An understanding of the economic problems being
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