Minnesota Administrative Rules

4900.1930 SELECTION CRITERIA.

The agency shall take the following criteria into consideration when determining whether an application and an applicant will be selected for a loan under the program:

A.

the likelihood of repayment of the loan funds, as determined by standard underwriting procedures of the agency;

B.

the ability of the applicant to proceed expeditiously with the project;

C.

the cost and quality of the proposed housing;

D.

the extent to which the proposed project meets the housing needs of the community;

E.

the extent to which the project will build the organization's capacity to provide housing and housing related services; and

F.

the geographic distribution of loan funds, to the extent that loan funds can be used to assist projects throughout the state.

Statutory Authority:

MS s 462A.06

History:

15 SR 12

Published Electronically:

June 11, 2008