Minnesota Administrative Rules

4900.2903 APPLICATION PROCESS.

Subpart 1.

With prequalification.

Applicants who intend to apply as prequalified receivers must follow the procedures in items A to E:

A.

become prequalified as an eligible receiver according to the selection criteria in part 4900.2902, subparts 3 and 4, for a specified line of credit amount subject to fund availability and court appointment;

B.

submit to the agency a project approval application that includes information on scope of work, estimate of funds needed, and evidence that funding needed for repairs has been secured;

C.

the project must be approved by the agency according to the selection criteria under part 4900.2902, subpart 3;

D.

submit a court order; and

E.

complete and submit a loan commitment agreement to the agency.

Subp. 2.

Without prequalification.

Applicants who do not intend to apply as prequalified receivers must follow the procedures in items A to E:

A.

submit a loan application;

B.

submit to the agency a project approval application that includes information on scope of work, estimate of funds needed, and evidence that funding needed for repairs has been secured;

C.

the project and receiver must be approved by the agency according to the selection criteria under part 4900.2902;

D.

submit a court order; and

E.

complete and submit a loan commitment agreement to the agency.

Statutory Authority:

MS s 462A.06

History:

15 SR 376

Published Electronically:

June 11, 2008