At the time a preapplication is made for a project, the qualified taxpayers submitting the application must designate the one qualified taxpayer authorized to determine when a project is complete and a Certificate of Completion may be requested. In no case may a project be designated complete until it becomes capable of being occupied and used.

A project will not be considered complete simply because the cost of the eligible investment specified on the preapproval letter has been reached. The determination of whether the project is complete will be based on the totality of the information submitted with Request for Certificate of Completion for Brownfield Redevelopment Credit Project, Form 3694.