(1) The following information shall be presented to the department by applicants that seek certification as a CRDC:

(a) an outline of the region the applicant is proposing to represent that includes a description of the communities, economy, demographics, and culture;

(b) evidence the applicant is a nonprofit corporation organized under applicable state and federal laws;

(c) a staffing plan that includes current job titles, job descriptions, and qualifications of primary personnel. At a minimum, the applicant is required to provide 4,160 hours of staff time annually to economic development activities, which must include at least 2,080 hours of professional economic development staff time. The applicant shall include a hiring plan or a contracting plan in meeting this requirement. For the purpose of this rule, economic development activities means work in the development and management of revolving loan funds, business technical assistance, state and federal grants and programs, local and regional planning, business retention and expansion programs, and business recruitment programs all directly related to regional strategic plans;

(d) documentation of the composition of board(s) of directors;

(e) evidence of financial stability that includes:

(i) a copy of the most recent audited or professionally reviewed financial statements of the applicant, including a supplemental schedule or other detailed information to specifically disclose the financial condition and results of operations of the applicant;

(ii) a proposed budget for the applicant that includes sources and uses of funds; and

(iii) any other information deemed necessary by the department to evaluate the financial stability of the applicant;

(f) evidence of matching funds, including those from local governments, in the ratio of $1 for every $1 of assistance grants requested:

(i) matching funds for assistance grants shall be provided through existing or new cash from the applicant's administrative budget;

(ii) the assistance grant awarded may not displace existing funds in the applicant's administrative budget; and

(iii) any other information deemed necessary by the department to document the amount and source of matching funds;

(g) a plan based upon a comprehensive economic development strategic plan model for encouraging and organizing full participation in regional economic development activities, meetings, and projects in the region;

(h) evidence of written, broad-based support from the region;

(i) a plan for the development and publication of a five year strategic plan for the region;

(j) a plan for delivery of, and evidence of the ability to administer a revolving loan fund. To meet a minimum application threshold, the applicant shall include pertinent experience in the management of a revolving loan fund;

(k) a plan for delivery of, and evidence of the ability to provide business technical assistance. To meet a minimum application threshold, the applicant shall include pertinent experience in providing business technical assistance;

(l) evidence of the ability to apply for, facilitate, and manage state and federal grant and loan programs, in particular, department loan and grant programs;

(m) a plan for delivery of, and evidence of the ability to perform local and regional planning. To meet a minimum application threshold, the applicant shall include pertinent experience in local and regional planning;

(n) a plan for performance of a business retention and expansion program (optional);

(o) a plan for performance of a business recruitment program (optional); and

(p) any other information deemed necessary by the department for a complete review of an applicant's proposal for certification as a CRDC.

(2) The procedures for certifying a CRDC are as follows:

(a) the department shall issue a formal request for proposal for interested individuals or organizations to respond to;

(b) the department's staff shall review timely submitted proposals and determine whether to recommend certification of the CRDC. The proposal and staff's recommendation regarding certification shall be forwarded to the department director for a final decision;

(c) the department will review CRDC performance on a quarterly basis for continued program certification; and

(d) any other procedures deemed necessary by the department to certify a CRDC.