Ill. Admin. Code tit. 47 § 380.606

Current through Register Vol. 48, No. 45, November 8, 2024

Section 380.606 - Agency Review

The Agency shall review each complete Application and approve or reject it. The Agency's review of an Application may include, but is not limited to, the following criteria:

a) the availability of funds under the RHS Program that have been reserved for the LTOS Program;

b) the increase of the geographic diversity of Projects funded under the LTOS Program;

c) the level of local government and community support for the proposed Project;

d) the suitability of the Project site;

e) cost per Unit of the Project, including soft costs (non-construction costs);

f) the need for funding for the Project;

g) the affordability of the Units to Extremely Low-Income Households and Severely Low-Income Households;

h) the amount of LTOS Program funds requested;

i) the number of Units to be available for Special Needs Households;

j) the proposed term of the Allocation, which shall not exceed 30 years from the date of completion, construction or rehabilitation;

k) the site and market study for the Project; and

l) the Developer's Plan for Services.

Ill. Admin. Code tit. 47, § 380.606