§ 73.132. Industrial parks and multiple-tenancy building projects.
(a) With respect to an industrial park project or a multiple-tenancy project when no investor-developer is involved, the limited financial requirements of the act reduce the financial analysis involved. By their nature, these projects are more speculative and require the application of different criteria. The financial strength of an industrial development agency may or may not be a primary factor respecting PIDA’s proposed participation in either an industrial park or multiple-tenancy building project. Among other things, PIDA considers the industrial development agency’s past record in developing other similar projects, the scope and completeness of the proposed project, evidence of satisfactory sources of financing for the entire industrial park or multiple-tenancy building project, proposed equity participation therein, any proposed governmental participation in the project, evidence of the demand for industrial park land or multiple-tenancy building space in the area of this Commonwealth in which the project is to be located, and the satisfactory projection of sufficient revenue generated by the project to repay the loan.
(b) When an investor-developer will be the owner of the proposed industrial park or multiple-tenancy building project, the financial analysis of the investor-developer will be similar to the financial analysis of a responsible buyer as described in § 73.131 (relating to industrial development projects).
Source The provisions of this § 73.132 amended October 19, 2007, effective October 20, 2007, 37 Pa.B. 5601. Immediately preceding text appears at serial page (230895).
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