Minnesota Administrative Rules

4900.2805 SELECTION CRITERIA.

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

A.

the documented need for the residential housing in the proposed geographic area;

B.

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

C.

the applicant's prior experience in developing, owning, and operating residential housing;

D.

the cost and quality of the proposed housing;

E.

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

F.

the relationship of the proposed development to public facilities, sources of employment, and services, including public transportation, health, education, and recreation facilities;

G.

the appropriateness of the development for occupancy by individuals; and

H.

the extent to which the loan funds are combined with other sources of funding to make the development economically feasible and rents affordable for low-income individuals.

Statutory Authority:

MS s 462A.06

History:

15 SR 12

Published Electronically:

June 11, 2008