(1)  An applicant for an agricultural marketing or business development investment project shall submit an investment proposal to the council, not to exceed a maximum of eight typewritten pages in at least 12-point font.

(2)  The investment proposal must include the following items:

(a)  applicant cover page which includes the investment proposal title, name and contact information of the applicant, applicant tax identification number, and project duration;

(b)  executive summary of the investment proposal;

(c)  identification of need or opportunity which contains a description of the agricultural product and/or process proposed to be developed or marketed with particular emphasis on any proprietary characteristics which would result in a competitive advantage for the applicant;

(d)  investment proposal objectives which detail the intended accomplishments of the project;

(e)  investment proposal deliverables which detail the tangible or intangible outcome(s)  of the project;

(f)  investment proposal plan of work which details the timeline, steps, and actions that will be taken to achieve the outcomes defined by the project's objectives and deliverables;

(g)  investment proposal potential use which details the expected benefit or consequence to Montana's agricultural industry(s)  should the project result in a favorable outcome and may include an estimate of projected sales revenue, jobs creation or preservation, or other positive economic impact;

(h)  investment proposal key personnel which identifies the project team members and may include a description of the project team's experience and qualifications relevant to the particular focal area;

(i)  investment proposal facilities and equipment which detail the project's facility or equipment needs, if relevant, for the investment project;

(j)  investment proposal current and pending support which detail the nature and amount of both monetary and nonmonetary forms of support pledged toward the investment project and includes a listing of the potential investors; and

(k)  investment proposal budget which:

(i)  details the amount of funding needed for the current round of financing;

(ii)  expenses associated with the investment project;

(iii)  delineates how those expenses are proposed to be funded;

(iv)  identifies the amount and nature of matching contributions; and

(v)  the expenditure categories that state monies will be allocated toward.

(3)  The investment proposal is evaluated by the council for a determination of whether the project:

(a)  complies with ARM 4.16.701(2)  ;

(b)  should receive a financial investment assistance grant;

(c)  should have any repayments provisions associated with an award of funding; and

(d)  should be approved as the executive summary for a seed capital loan application and subject to the processes defined under ARM 4.16.301 through 4.16.305.

(4)  The investment proposal should not contain any information that the applicant does not want subject to public inspection.