Minn. R. agency 148, ch. 4900, AFFORDABLE RENTAL INVESTMENT FUND PROGRAM, pt. 4900.3650
Current through Register Vol. 49, No. 20, November 12, 2024
Part 4900.3650 - FUNDING PRIORITY The agency shall give priority in awarding loans or grants under the challenge program to those proposals that best address the greatest number of the following priorities:
A. the extent to which the proposal includes contributions that comply with Minnesota Statutes, section 462A.33, subdivision 3, and whether the proposal includes contributions from a unit of local government; an area employer; and a private philanthropic, religious, or charitable organization;B. the extent to which the proposal addresses the housing needs of underserved populations;C. the extent to which the proposal contains clearly identified goals relating to the housing element of a cooperatively developed plan consistent with the mission of the agency;D. the extent to which the proposed housing is located near jobs; transportation, including regional and interregional transportation corridors and transitways; recreation; retail services; social and other services; and schools;E. the extent to which the proposed housing is part of the infrastructure necessary to sustain economic vitality;F. the extent to which the proposed housing maximizes the adaptive reuse of existing buildings and the use of existing infrastructure. If the proposal includes new housing, the agency shall consider the extent to which the efficient use of land and infrastructure is maximized and the loss of agricultural land and green space is minimized;G. the extent to which private investment is included as a funding source;H. the projected long-term affordability of the proposed housing;I. the extent to which the proposed housing provides or maintains housing opportunities for households with a wide range of incomes and housing needs within a community or provides housing opportunities for a wide range of incomes within the proposed housing;J. the extent to which the cost per unit is held as low as possible while not compromising the quality and sustainability of the proposed housing;K. the extent to which the proposal identifies and includes identifiable cost avoidance or cost reductions from regulatory changes, incentives, or waivers by the local governing body, including, but not limited to: (2) reduced setbacks and parking requirements;(3) decreased road widths;(4) flexibility in site development standards and zoning code requirements and waiver of permit or impact fees;(5) fast-track permitting and approvals; and(6) other regulatory incentives that will result in cost avoidance or reductions. If a proposal identifies and includes cost savings, the application must provide a quantified breakdown of the cost savings due to regulatory incentives or innovative building techniques or materials;
L. the extent to which the site and design of the proposed housing is suitable for the housing needs of the proposed tenant and homebuyer populations;M. the extent to which the applicant has the capacity to complete the proposed housing in a timely fashion and, if the proposal includes rental housing, maintain the rental housing after completion; andN. temporary priorities, as established by the members or the legislature, that reflect unexpected short-term changes in the demand for housing. An example of an unexpected short-term change is the need to direct resources to respond to a natural disaster, such as a flood or tornado. Temporary priorities are described in the application guide.Minn. R. agency 148, ch. 4900, AFFORDABLE RENTAL INVESTMENT FUND PROGRAM, pt. 4900.3650
Statutory Authority: MS s 462A.06