The director shall develop performance standards for judging the effectiveness of the program. Such standards shall include, to the extent possible, examining the effectiveness of grants in regard to: (1) Job creation for individuals of low and moderate income; (2) Retention of existing employment; (3) The creation of new employment opportunities; (4) The diversification of the economic base of local communities; (5) The establishment of employee cooperatives; (6) The provision of assistance in cases of employee buy-outs of firms to prevent the loss of existing employment; (7) The degree of risk assumed by the fund, with emphasis on loans which did not receive financing from commercial lenders, but which are considered financially sound.
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