To be eligible for selection as a recipient of a grant under the program, the application must satisfy the following requirements:
The proposed residential housing must be exclusively for the use of low income persons living alone.
The amount of the grant requested must not exceed 50 percent of the total development cost of the proposed residential housing.
The application must include a comprehensive plan for the development and management of housing for low income persons living alone and document the ability of the applicant to develop and maintain that housing for a period of time specified by the agency. At a minimum, this plan must include:
a description of the applicants' goals and objectives in meeting the area's need for this type of housing;
a detailed budget for the development of the proposed housing showing all development costs and the sources of funds to pay them;
a detailed budget for the operation of the housing showing all anticipated operating costs and the proposed rents and other income;
documentation of the experience and fiscal responsibility of the applicant in developing similar housing; and
MS s 462A.06
12 SR 1147; 18 SR 2277
June 11, 2008
Official Publication of the State of Minnesota
Revisor of Statutes