Part 4900.3729 - SELECTION STANDARDSSubpart 1.Generally.To be considered for capital funding under the housing trust fund program, applicants must comply with the requirements in Minnesota Statutes, section 462A.201, parts 4900.3725 to 4900.3728, and satisfy the threshold criteria in subparts 2 and 3.
Subp. 2.Overall project feasibility.The agency shall consider the following factors in determining whether an applicant has demonstrated overall project feasibility:
A. the nature of the proposed site;B. whether the proposed housing is needed in the market that is intended to be served, based upon the population, job growth, and very low housing vacancy rates;C. whether costs of developing the housing are reasonable and whether the housing is economically viable; andD. for permanent supportive housing, whether the applicant has secured long-term funding for the support services that address the special needs of proposed tenants.Subp. 3.Organizational capacity.The agency shall consider the following factors in determining whether an applicant has demonstrated sufficient organizational capacity:
A. the applicant's purpose and mission;B. the applicant's related housing experience;C. whether the applicant has successfully completed similar projects or is partnering with other organizations that have successfully completed similar projects; andD. whether the applicant has the strong current and expected ongoing capacity to complete the proposed housing as well as other proposals being developed by the organization and the expected ongoing capacity to maintain the rental housing long term.Minn. R. agency 148, ch. 4900, CAPITAL FUNDING, pt. 4900.3729
Statutory Authority: MS s 462A.06