Minn. R. agency 148, ch. 4900, APARTMENT RENOVATION MORTGAGE LOANS, pt. 4900.0358

Current through Register Vol. 49, No. 28, January 6, 2025

Part 4900.0358 - SELECTION CRITERIA FOR APARTMENT RENOVATION MORTGAGE PROGRAM LOANS

In determining whether or not to accept applications for apartment renovation mortgage loans, the agency shall take the following criteria into consideration:

A. whether the location of the structure to be improved is such that it will enable the housing to be successfully marketed at the proposed rents;

B. accessibility to schools, shopping, health care, recreation and social facilities, and centers of employment;

C. availability of a convenient access to public transportation;

D. availability and proximity of adequate sewer and water facilities, public utilities, and paved roads;

E. freedom from serious adverse environmental and site conditions;

F. the extent to which displacement of residents is minimized;

G. rental management qualifications and financial strength of the owner; and

H. reasonableness of property and property related costs.

Minn. R. agency 148, ch. 4900, APARTMENT RENOVATION MORTGAGE LOANS, pt. 4900.0358

11 SR 2077

Statutory Authority: MS s 462A.06