Minnesota Administrative Rules

4900.3550 SELECTION CRITERIA.

The agency shall use the criteria in this part to determine whether an applicant will get a loan from the affordable rental investment fund program:

A.

the need, documented by the applicant, for the development in the proposed geographic area;

B.

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

C.

the applicant's prior experience in developing, owning, and operating similar development;

D.

the cost-reasonableness and quality of the development;

E.

the geographic distribution of loan funds, to the extent that loan funds can be used to assist developments 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 extent to which other programs are available to assist the development;

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 families and individuals;

I.

the extent to which existing units of rental housing are available to low-income households; and

J.

the extent to which the development encourages or maintains economic integration.

Statutory Authority:

MS s 462A.06

History:

19 SR 1150

Published Electronically:

June 11, 2008