Section 1826. The project occupant  


Latest version.
  • The project occupant must be found by
      the authority to be financially responsible and  presumptively  able  to
      comply  with  the  terms  and conditions of any lease, mortgage or other
      agreement  made  by  it  with  the  authority  or  a  local  development
      corporation  in  respect  of  the  project.  In making this finding, the
      authority shall consider all information  reasonably  available  to  it,
      including  information  as  to  the  business  reputation of the project
      occupant, the character and ability of its management, the  adequacy  of
      its  financial  resources,  the  market  demand  for  its  products, the
      adequacy  of  its  distribution  methods,  its  past  earnings  and  the
      likelihood  that  it  can  successfully meet any required payments under
      such lease, mortgage or other agreement out of current income.