Ill. Admin. Code tit. 47 § 360.106

Current through Register Vol. 48, No. 50, December 13, 2024

Section 360.106 - Standards - Criteria

In administering the Program, the Authority and the Staff shall, in the exercise of discretion, consider, in addition to the criteria specifically set forth in this Part;

a) the purposes of the Program to provide affordable, decent, safe and sanitary housing, whether through the making of a Loan, a Grant or the use of Trust Fund Monies pursuant to Sections 8(b), (c), (d) and 9 of the Act;

b) the requirements of applicable State and Federal law;

c) the financial condition and previous experience of the Applicant;

d) local government and community support for the Development or Single-Family Development;

e) suitability of the location of the Development or Single-Family Development;

f) cost efficiency;

g) energy efficiency;

h) affordability to Low-Income Households and Very Low-Income Households;

i) amount of Trust Fund Monies requested per unit;

j) term of the Loan and other sources of financing;

k) secured position of the Loan;

l) equity contribution of Applicant;

m) amount and appropriateness of non-construction costs; and

n) results of site and market study, or rental analysis, if applicable.

Ill. Admin. Code tit. 47, § 360.106

Amended at 18 Ill. Reg. 8663, effective May 25, 1994