Minnesota Administrative Rules

4900.0358 SELECTION CRITERIA FOR APARTMENT RENOVATION MORTGAGE PROGRAM LOANS.

In determining whether or not to accept applications for apartment renovation mortgage loans, the agency shall take the following criteria into consideration:

A.

whether the location of the structure to be improved is such that it will enable the housing to be successfully marketed at the proposed rents;

B.

accessibility to schools, shopping, health care, recreation and social facilities, and centers of employment;

C.

availability of a convenient access to public transportation;

D.

availability and proximity of adequate sewer and water facilities, public utilities, and paved roads;

E.

freedom from serious adverse environmental and site conditions;

F.

the extent to which displacement of residents is minimized;

G.

rental management qualifications and financial strength of the owner; and

H.

reasonableness of property and property related costs.

Statutory Authority:

MS s 462A.06

History:

11 SR 2077

Published Electronically:

June 11, 2008