Applicants must submit by 5 p.m. on Friday detailed financial information about the business group that will develop the proposed project, including tax returns, financial holding, debts, principal investors and officers and more to continue in the multi-step process. Applicants also must pay a $400,000 non-refundable application fee to defray costs of the commission's extensive investigation into the background of each prospective applicant, which must pass the background check and be deemed "suitable" to continue to the next phase of the application process, which focuses on the project proposal. KG Urban Enterprises, a New York-based real estate development firm, has already filed its initial application for a casino on a former power plant site on New Bedford's waterfront.
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